[CLWTXN] 37th LLS Quizzer

Which of the following is NOT a stage of taxation?

• Levying

• Assessment

• Appropriation

• Collection

Which branch of government has the absolute power to create tax laws?

• Executive

• Judicial

• Legislative

• All branches

Who can be taxed?

• Only citizens

• Only residents

• Only property owners

• All persons and properties within the state's jurisdiction, unless exempted by law.

Which of the following is an inherent limitation on the power of taxation?

• Due process clause

• Equal protection clause

• Territoriality

• Non-imprisonment for debt

What does the lifeblood doctrine state about taxes?

• Taxes are essential for government existence and operations.

• Taxpayers must exhaust all administrative remedies before going to court.

• The same entity cannot be taxed twice for the same purpose.

• Taxes should be levied based on an individual's ability to pay.

Which of the following is a principle of a sound tax system?

• Fiscal Adequacy

• Administrative Feasibility

• Equality or Theoretical Justice

• All of the above

Which of the following is NOT a classification of taxes?

• According to scope

• According to subject matter

• According to payment method

• According to those who bear the burden

What is the tax rate for the sale of a capital asset that is real property?

• 10%

• 15%

• 6%

• 20%

Which of the following is an example of a creditable withholding tax?

• Value-added tax

• Excise tax

• Withholding tax on professional fees

• Estate tax

What is the VAT rate in the Philippines?

• 6%

• 10%

• 12%

• 15%