TAX-6148 - Income Taxation oed answer key
Showing 61 to 75 of 75 total answers.
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Awesome StudentQuestion • Income Taxation
The existence of a Constitution is necessary for the exercise of the inherent powers of the Sovereign State.
Answer
FALSECorrect
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Awesome StudentQuestion • Income Taxation
This tax assessment is being asked to be cancelled because there is a question as to its validity or legality.
Answer
Disputed AssessmentCorrect
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Awesome StudentQuestion • Income Taxation
The benefits from taxation have to be experienced to justify the legitimacy of collection of taxes from the people.
Answer
FALSECorrect
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Awesome StudentQuestion • Income Taxation
The power to tax includes the power to destroy because the taxpayer has no option but to pay the tax imposed to him.
Answer
Marshall DictumCorrect
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Awesome StudentQuestion • Income Taxation
The net worth method is commonly used in determining the taxable income of taxpayers with complete accounting records.
Answer
TRUECorrect
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Awesome StudentQuestion • Income Taxation
It is a contract whereby the parties, by reciprocal concessions, avoid litigation or put an end to one already commenced.
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Awesome StudentQuestion • Income Taxation
The State can still exercise its taxing powers over its citizen, even if he resides outside the taxing State's territory.
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Awesome StudentQuestion • Income Taxation
In installment method, the excess of mortgage assumed over cost of property sold is considered as part of the initial payment.
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Awesome StudentQuestion • Income Taxation
In tax capitalization, the buyer absorbs the payment if tax and includes the same as part of the cost of the acquired property.
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Awesome StudentQuestion • Income Taxation
It is a civil penalty imposed by law in addition to the main tax required to be paid dud to delinquency or misrepresentation of taxes.
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Awesome StudentQuestion • Income Taxation
These are procedures or actions available both to the government to collect taxes and to the taxpayer to avoid abuses in the payment of taxes.
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Awesome StudentQuestion • Income Taxation
All government entities regardless of their functions are exempted from taxes because it would be impractical for the government to be taxing itself.
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Awesome StudentQuestion • Income Taxation
A government officer considered as tax enforcer by having the power to ascertain the validity of tax laws subject to the review of the Courts of Justice
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Awesome StudentQuestion • Income Taxation
It is a legal claim granted to the government to secure the proper payment of the tax, surcharges, interest and costs on all property subject to levy or distraint.
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Awesome StudentQuestion • Income Taxation