TAXATION

It is a term when a taxing authority, levies or imposes a tax.

• Tax credits

• Tax rate

• Taxation

• Taxpayers

Government imposes income taxes on financial income generated by all entities within their jurisdiction, including individuals and businesses.

• Consumption tax

• Inheritance tax

• Valued added tax

• Income tax

It is a tax withheld by employee's salary and paid to the government.

• Income tax

• Business tax

• Excise tax

• Payroll tax

An individual or business entity that is obligated to pay taxes to a federal, state, or local government.

• Taxpayers

• Tax credit

• Taxation

• Tax rate

The Philippine revenues are derived from sources, EXCEPT:

• Taxes

• Goods

• Capital revenues

• Grants

It is the state, place, or political unit which has jurisdiction to impose a particular tax.

• Life blood theory

• Eminent domain

• Situs of taxation

• Police power

The determination of the situs of taxation depends on various factors include the following, EXCEPT:

• Nature of tax

• Subject matter thereof

• Sources of income

• Taxpayers ability to pay

Sales tax is the tax you pay;

• when you barter

• when you buy something

• when you sell something

• when you give something as a gift

It is assed to a product at every point on the supply chain where value is added.

• Percentage tax

• Value added tax

• Excise tax

• Consumption tax

All of the following are government services, EXCEPT:

• Food inspectors

• Public schools

• FBI/NBI

• Farms