Online Tax Quiz_Jan. 31, 2023

Pursuant to RR 1-2023, solo parents that meet all of the following conditions shall qualify for the 10% discount and VAT exemption, except for:

• solo parents has a child with the age of 6 years or under

• solo parent is earning less than P250,000 annually

• solo parent is earning more than P250,000 annually

The 10% discount and VAT exemption shall apply to a qualified Solo Parent's purchase of the following goods, except for:

• baby's milk

• medicines

• sanitary diapers

• sanitary napkin

Beginning January 1, 2023, the filing and payment of VAT shall be:

• within 25 days following the close of each taxable quarter

• within 20 days following the close of each taxable quarter

• within 30 days following the close of each taxable quarter

• within 60 days following the close of each taxable quarter

VAT-registered taxpayers are no longer required to file the Monthly VAT Declaration for transactions starting January 1, 2023 instead file the corresponding Quarterly VAT.

• True

• False

Pursuant to RMC No. 8-2023, the Inventory List shall be submitted to the BIR in....

• hard copies

• soft copies

What is the prescribed format of Inventory List for real estate companies?

• Annex "A"

• Annex "B" and "B1"

• Annex "C"

"RPS Assessment" are tax assessments arising from the conduct of audit/investigation of taxpayer's books of accounts and other relevant records.

• True

• False

What revenue issuance circularizes the availability of revised BIR Form 1606 and 1706 version January 2018?

• RMC 6-2023

• RMC 7-2023

• RMC 8-2023

• RMC 9-2023

It is a web based system wherein the taxpayers will be able to transact their ONETT online anytime and anywhere, provided there is an internet connection.

• eONETT

• OTS

• ORUS

• eFPS

What revenue issuance announces the availability of online application for registration information updates and other online facilities for registration-related transactions through Online Registration and Update System (ORUS)?

• RMC 9-2023

• RMC 10-2023

• RMC 11-2023

• RMC 12-2023