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