REVIEW OF INCOME TAXATION
Authored by Vic Vic
Fun, Professional Development
1st Grade
Used 115+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Interest earned by lending company is
active income subject to regular tax
passive income subject to final tax
2.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Interest earned by a bank is subject to
regular tax
final tax
3.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Interest income earned by a depositor is
subject to final tax
subject to regular tax
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Non-operating income are generally subject to
regular tax
final tax
business tax
exempt
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Sale of real property classified as ordinary asset is subject to
CWT 6%
CGT 6%
CGT 15%
1.5%
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Raffle prizes during Christmas party in the amount of Php 1,000 is subject to
Regular tax
Final tax
Exempt
12% VAT
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Net income of a domestic corporation is Php 1 Million. Total asset is Php 1 Million. The corporate tax rate to be used is?
20%
25%
1%
3%
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