TAX-6148 - Income Taxation oed answer key

Showing 41 to 60 of 75 total answers.

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Awesome StudentQuestion • Income Taxation

Dividends received by a cooperative from a domestic corporation are tax exempt.

Answer

TRUECorrect

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Awesome StudentQuestion • Income Taxation

Tax Administration is a system involving enforcement of taxes through the use of

Answer

Tax Assessment and CollectionCorrect

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Awesome StudentQuestion • Income Taxation

Taxation co-exist with the four elements of the state which includes all, except

Answer

PropertyCorrect

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Awesome StudentQuestion • Income Taxation

It is a system of collecting taxes in accordance with the country's tax policies.

Answer

Tax AdministrationCorrect

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Awesome StudentQuestion • Income Taxation

Local tax ordinances must be uniformly and equally applied throughout the country.

Answer

FALSECorrect

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Awesome StudentQuestion • Income Taxation

Cash method of reporting income can deduct prepaid expenses in the year of payment.

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Awesome StudentQuestion • Income Taxation

Revenues derived from taxes cannot be used for the exclusive use of private persons.

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Awesome StudentQuestion • Income Taxation

Which of the following is not within the scope of authority of the BIR Commissioner?

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Awesome StudentQuestion • Income Taxation

The 13th month pay and other benefits amounting to P82,000 and below are not taxable.

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Awesome StudentQuestion • Income Taxation

Which of the following tax rates behaves in the same direction with the taxable value?

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Awesome StudentQuestion • Income Taxation

All of the following are inherent restrictions on the exercise of taxation power, except

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Awesome StudentQuestion • Income Taxation

As a rule, excess amount of liquidating dividends over cost of shares surrendered is taxable.

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Awesome StudentQuestion • Income Taxation

In taxation, it is one's civil liability to pay taxes which gives rise to criminal liability.

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Awesome StudentQuestion • Income Taxation

This refers to the process of taxation to determine the amount of tax based on existing tax law.

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Awesome StudentQuestion • Income Taxation

Sovereign equality dictates that a nation cannot impose taxes on the property of another country.

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Awesome StudentQuestion • Income Taxation

Taxation is the primary source of government revenue. Hence, all government funds come from taxes.

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Awesome StudentQuestion • Income Taxation

It is the government agency primarily in charge to assess and collect all taxes and charges imposed.

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Awesome StudentQuestion • Income Taxation

If the taxpayer is an individual, his taxable income shall be computed on the basis of calendar year.

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Awesome StudentQuestion • Income Taxation

Taxation is the government's legitimate means of interfering with private properties of its subjects.

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