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WorksheetsQUIZ 1 - TAXES
Total questions: 10
Worksheet time: 30mins
Which of the Following defines the country's tax Policy?
Philippine Constitution
National Internal Revenue Law
Pari Materia Principle
Tax Transformation
Which of the following statements is not correct?
The government automatically possesses the power to collect taxes from its inhabitants
The state has the supreme power to command and enforce contribution from people with its jurisdiction
The government can enforce contribution upon its citizen only when the Constitution grants it.
Taxation power exists inseparably with the state.
Which of the following statements is/are correct? i. Taxation is a process. ii. Enactment of Tax Laws is part of the taxation process iii. The Constitution expressly conferred to the power of Taxation to the President of the Philippines. iv. Taxation requires voluntary contribution from inhabitant to support the government.
i, ii, iii, and iv
i, ii and iii only
i and ii only
i only
One of the following is not among the basic justification for taxation
Taxation is based on necessity
Taxation is the bread and butter of the government
Taxation is the lifeblood of the government
Taxation is a voluntary contribution for the benefits received.
These refer to the rules or orders having force of law issued by the executive branch of the government to ensure uniform application of the tax law
Revenue regulations
BIR rulings
Memorandum Orders
Local Tax ordinances
It has the executive supervision and control over tax administration
Bureau of Customs
Department of Finance
Bureau of Internal Revenues
Court of Justice
Which of the following is classified as income?
Damage recovery due to physical injuries
Return of capital
Excess of selling price over cost of assets sold
Gifts received
Which of the following is/are generally subject to final tax?
Compensation Income
Business Income
Capital Gain
Return of Capital
Which of the following dividends are subject to income tax unless has satisfied three conditions provided in the TRAIN IRR?
Received by domestic corporation from another domestic corporation
Received by a resident corporation from a domestic corporation
Received by domestic from nonresident foreign corporation
Received by nonresident foreign corporation from another nonresident foreign corporation
Which of the following is taxable with income tax as its gross amount when earned within the Philippines?
Professional fee
Compensation income
Business Income
Royalty Income
