Tax Quiz on Webinar-12.7.2023

It prescribes the use of electronic mail (e-mail) and electronic signature as additional mode of service of the Warrant of Garnishment (WG) pursuant to Section 208 in relation to Section 244 of the National Internal Revenue Code of 1997, as amended.

• Revenue Regulations No. 10-2023

• Revenue Regulations No. 11-2023

• Revenue Regulations No. 12-2023

• Revenue Regulations No. 13-2023

It prescribes the policies and guidelines for the optional VAT-registration of Registered Business Enterprises (RBE) classified as Domestic Market Enterprise (DME) under the five percent (5%) tax on Gross Income Earned (GIE) in lieu of all taxes regime during the transitory period pursuant to Rule 18, Section 5 of the amended Implementing Rules and Regulations (IRR) of Republic Act No. 11534 (CREATE Act).

• Revenue Regulations No. 11-2023

• Revenue Regulations 12-2023

• Revenue Regulations 13-2023

• Revenue Regulations 14-2023

What is the withholding tax rate on the share of each co-venturer/member from the net income of the joint venture/consortium not taxable as corporation prior to actual or constructive distribution thereof?

• 5%

• 10%

• 15%

• 20%

Real properties seized by government in the exercise of its regulatory functions that were eventually sold through public auction are not considered ____________.

• "ordinary asset"

• "capital asset"

Which of the following sale of real property is subject to Value Added Tax?

• sale of a residential condominium unit with Selling Price of P5M by ABC Realty Inc.

• sale of real property utilized for socialized housing as defined by Republic Act (RA) No. 7279, as amended

• sale of a residential condominium unit with Selling Price of P2.5M by DEF Realty Inc

• sale of a residential lot only by XYZ Realty Inc. with Selling Price of P3M

When is the extended deadline for the availment of Estate Tax Amnesty?

• June 14, 2024

• June 14, 2025

What is the coverage of the Estate Tax Amnesty pursuant to R.A. 11956?

• Estate of decedents who died on or before December 31, 2017

• Estate of decedents who died on or before December 31, 2018

• Estate of decedents who died on or before May 31, 2022

What is the recent law extending the period of availment of the Estate Tax Amnesty?

• R.A. 11213

• R. A. 11956

• R. A. 11569