Beruflich Dokumente
Kultur Dokumente
a. 102,480
b. 150,000
c. 90,600
d. 0
a. The deadline for the filing of corporate quarterly income tax returns
is on the 15th day following the close of the first (1 st) three (3)
quarters of the taxable year.
b. There is only one (1) type of annual corporate income tax return
available for taxpayers under different tax regimes.
c. The deadline for the filing of annual corporate income tax return on
the fifteenth (15th ) day of the fourth (4th) month following the close
of the taxable year is applicable to both eFPS and non-eFPS filers.
d. Corporate taxpayers who will able to settle their net income tax
liabilities before the deadline can avail a maximum 20% prompt
payment discount, the amount of which will depend on the amount
of income tax liability settled.
Nature Amount
Prospective client 45,050
meetings
Directors meetings 12,500
Various sponsorships 7,500
Company promotion 20,000
activities
Total 85,050
a. 26,250 EWT
b. 39,375 EWT
c. No EWT is required to be withheld since VCMC is not a Top 20,000
Corporation or a Large Taxpayer
d. 52,500 EWT
3. AVERAGE Which of the following is not a general business type for Local
Business Tax (LBT) purposes?
a. Manufacturers
b. Banks and Other Financial Institutions
c. Healthcare providers
d. Contractors
1. EASY
I. When a donors tax return was filed and it was found by the Bureau
of Internal Revenue to have errors which gave rise to a deficiency
donors tax, the donor may be required to pay the deficiency
although he does not possess or own the property anymore.
II. The Government is not bound by any agreement between the donor
and the donee that latter shall pay the tax on the donation.
2. EASY - When is the time for filing of the estate tax return?
Donors tax due after tax credit for foreign donors tax paid:
a. 4,625.50
b. 3,208.33
c. 2,200
d. 5,500
a. Yes, since he did not obtain the requisite NGO certification before
he made the donation
b. Yes, because the donation is to be wholly used for administration
purposes
c. No, because the donation does not exceed 10% of his taxable
income for 2010
d. No, since the donation is actually, directly, and exclusively used
for educational purposes.
a. Legislation by Congress
b. Recommendation by the Commissioner of Internal Revenue to
the Secretary of Finance
c. Approval by the Secretary of Finance
d. Publication in a newspaper of general circulation
Solution:
Although revenue regulations have the force and effect of law they are,
strictly speaking not tax laws. Hence, legislation by Congress is no longer
necessary for its implementation.
2. AVERAGE
3. DIFFICULT