Business Tax

The gross receipts of banks pertain to

• Principal collection

• Interest Collection

• Principal and interest collection

• None of these

To be subject to the general percentage tax, a taxable person must not be

• Vat registered

• Non vat registered

• Operating below the VAT Threshold

• All of these

Agents of foreign insurance are subject to?

• 2% premiums tax

• 5% premiums tax

• 4% premiums tax

• 10% premiums tax

Which is not subject to amusement tax?

• Places of boxing exhibitions

• Places of professional basketball games

• Cockpits

• Golf course

The general percentage tax on winnings from a horse race is

• 3%

• 4%

• 5%

• 10%

Which is incorrect with respect to the requisites of exemption of receipts from professional boxing?

• Both contenders must be Filipino

• The promoter must be a Filipino or corporation with at least 60% Filipino ownership

• The competition must be a world or oriental championship

• All of these

The percentage tax on double forecast, quinella, or trifecta bets on horse race is

• 3%

• 4%

• 5%

• 10%

Which of the following is subject to the franchise tax?

• Electricity

• Transportation

• Water Utilitty

• Telephone

Mr Pogi practices his profession as a medical practitioner. He is registered Vat Taxpayer. Mrs Pogi is a nurse employed by a public hospital.

• Mr Pogi shall pay percentage tax

• Mrs Pogi shall pay percentage tax

• Mrs Pogi is exempt from business tax

• Mr. Pogi is exempt from business tax

Regga Transporters , a transportation contractor, transports employees of Euro Textiles Industries to and from Cagayan De Oro City to a distant factory plant in Impasug-ong, Bukidnon. In March, Regga Transporters was paid P 300,000 by Euro Textile Industries. The percentage tax is

• P 0

• P 9,000

• P 15,000

• P 36,000