WorksheetsACC 26 22Q3
Total questions: 20
Worksheet time: 19mins
How does the observance of due process of law is applied in taxation?
Tax laws should be harsh or oppressive
Tax laws should neither be harsh nor oppressive
Tax laws should only be in favor of those who earn more
Tax laws should only be mandated to government employees
Differentiate Uniformity in Taxation from Equity in Taxation.
Uniformity in taxation means that persons or things belonging to the same class shall be taxed at the same rate.
It is distinguished from equally in taxation in that the latter requires the tax imposed to be determined on the basis of the value of the property.
None of the above
All of the above
WHICH STAGE OF TAXATION WILL THE LEGISLATIVE DEPARTMENT BE INVOLVED WITH?
LEVY
ASSESSMENT
COLLECTION
IMPRISONMENT
This form is issued by employer to employees earning compensation income and can be used/presented as an Income Tax Return by the employee.
BIR Form 1700
BIR Form 1701
BIR Form 1701A
BIR Form 2316
The following statements correctly described the power of the State to tax except
It is a power inherent in every sovereign state to imposed a charge or burden upon persons, properties or rights to raise revenues for the use and support of the government and to enable it to discharge its functions.
The State can exercise the power of taxation only if it is expressly mentioned in the Constitution
It passes a legislative undertaking through the enactment of laws by the Congress which will be implemented by the Executive Branch of the government through its Bureau of Internal Revenue to raise revenue for the inhabitants in order to pay necessary expenses of the governement.
It is a way of collecting and apportioning the cost of government among those who are privileged to enjoy its benefits
Which statement is wrong
The power of taxation may be exercised by the governement, its political subdivisions, and public utilities
Generally, there is no limit on the amount of tax that may be imposed
The money contributed as tax becomes part of public funds
The power to tax is subject to inherent and constitutional limitations
The principal purpose of taxation is
To encourage the growth of home industries through the proper use of tax incentives
To implement the police power of the State
To reduce excessive inequalities of wealth
To raise revenue for governmental needs
Taxation is exercised both by the legislative and executive branch of the governement. Which of the following is not function of the Congress?
Selecting the kind of tax
Fixing amount of tax
Prescribing rules of taxation
Assessment of tax liability
The official action of an officer authorized by law in ascertaining the amount of tax due under the law from a taxpayer is
Assessment
Delinquency
Deficiency
Distraint
One of the following is not a characteristic or an element of tax
It is levied by the legislature
It is payable in money or in kind
It is proportionate in character
It is an enforced contribution
The tax law must be capable of convenient, just and effective administration
Theoretical justice
Fiscal adequacy
Administrative feasibility
Rule of apportionment
It literally mean "place of taxation" the country that has the power and jurisdiction to levy and collect the tax
Basis of taxation
Situs of taxation
Scope of taxation
Theory of taxation
Transfer of the tax burden by one whom the tax is assessed to another
Shifting
Capitalization
Transformation
Tax exemption
A tax in which the tax rate increases as the taxable amount increases.
Indirect Tax
Sales Tax
Progressive Tax
Regressive Tax
Which is illegal way of non payment or minimizing of tax?
Tax Avoidance
Tax Exemption
Tax Evasion
Indirect Double Taxation
Refers to any business entity or enterprise engaged in the production, processing, or manufacturing of products or commodities, including agro-processing, trading and services, whose total assets including those arising from loans but exclusive of the land on which the particular business entity’s office, plant and equipment are situated, shall not be more than Php 3M
(a)
is the lead government agency responsible for the promotion of investments in the Philippines
(a)
tasked to lead the promotion of investments in the Philippines
BOI - Bureau of Investments
is created to promote investments in export-oriented manufacturing industries in the Philippines
PEZA - Phil Economic Zone Authority
tasked to administer the collection of tariffs on imported articles and collections of the VAT on importation
BOC - Bureau of Customs
refers to provinces, municipalities, cities, and barangays that also imposed and collect various taxes
LGTCU - Local Govt Tax Collecting Units
Discuss the elements of a sound tax system. Limit your answer to 3 sentences
S1: Individual taxpayers are natural persons with income derived within the territorial jurisdiction of a taxing authority
S2: Individual taxpayers are natural persons classified as citizens and aliens
S1 only
S2 only
S1 and S2
None of them
