General Principles of Taxation Flashcards
Provisions of the 1987 constitution
Section 27: The president shall have the power to __________ any particular item or items in an appropriation, revenue, tariff bill, but this shall NO EFFECT the item or items to which he does not object.
VETO
Provisions of the 1987 constitution
Section 28 the RULE of taxation shall be UNIFORM & EQUITABLE.
The ______ shall evolve a progressive system of Taxation
Congress
Provisions of the 1987 Constitution
Section 28. (2) The congress may, by law, authorize the ________ to fix within specified limits, and subject to such limitations and restrictions as it may impose, tariff rates, import and export quotas, tonnage and wharf age dues, and other duties or imposts within the framework of the national development program of the Government.
President
Provision of the 1987 Constitution
Section 28. (3) Charitable institutions, churches and personages or convents appurtenant thereto, mosques, non-profit cemeteries, and all lands, buildings, and improvements, actually, directly, and exclusively used for religious, charitable, or educational purposes shall be _________ from taxation
Exempt
Provision of the 1987 Constitution
sec 28 (4) No law granting any tax exemption shall be passed without the concurrence of a _________ of all the Members of the Congress.
Majority
Provision of the 1987 Constitution
Section 29. (1) No money shall be paid out of the Treasury except in pursuance of an __________ made by law.
Appropriation
Provision of the 1987 Constitution
Section 29. (2) No ______money or property shall be appropriated, applied, paid, or employed, directly or indirectly, for the use, benefit, or support of any sect, church, denomination, sectarian institution, or system of religion, or of any priest, preacher, minister, other religious teacher, or dignitary as such, except when such priest, preacher, minister, or dignitary is assigned to the armed forces, or to any penal institution, or government orphanage or leprosarium.
PUBLIC
Provision of the 1987 Constitution
Section 29. (3) All money collected on any tax levied for a special purpose shall be treated as a special fund and paid out for such purpose only. If the purpose for which a special fund was created has been fulfilled or abandoned, the balance, if any, shall be transferred to the _________ of the Government.
General Funds
Provision of the 1987 Constitution
Section 30. No law shall be passed increasing the appellate jurisdiction of the __________as provided in this Constitution without its advice and concurrence.
Supreme Court
Provision of the 1987 Constitution
ARTICLE VIII
Section 5. The Supreme Court shall have the following powers:
1) Exercise original jurisdiction over cases affecting ambassadors, other public ministers and consuls, and over petitions for certiorari, prohibition, mandamus, quo warranto, and habeas corpus.
(2) Review, revise, reverse, modify, or affirm on appeal or certiorari, as the law or the Rules of Court may provide, final judgments and orders of lower courts in:
(b) All cases involving the legality of any _____, impost, assessment, or toll, or any penalty imposed in relation thereto.
Tax
Provision of the 1987 Constitution
ARTICLE X
Section 5. Each ______ shall have the power to create its own sources of revenues and to levy taxes, fees and charges subject to such guidelines and limitations as the Congress may provide, consistent with the basic policy of local autonomy. Such taxes, fees, and charges shall accrue exclusively to the local governments.
LGU
Provision of the 1987 Constitution
CHAPTER X
Section 6. Local government units shall have a just _____, as determined by law, in the national taxes which shall be automatically released to them.
SHARE
TITLE IX COMPLIANCE REQUIREMENTS CHAPTER I KEEPING OF BOOKS OF ACCOUNTS AND RECORDS SEC. 232. Keeping of Books of Accounts. -
(A) Corporations, Companies, Partnerships or Persons Required to Keep Books of Accounts.
That those whose annually sales, earnings, receipts, or output do not exceed _________ shall have their books of accounts audited and examined yearly.
3,000,0000
TITLE IX
COMPLIANCE REQUIREMENTS
CHAPTER I
KEEPING OF BOOKS OF ACCOUNTS AND RECORDS
SEC. 233. Subsidiary Books. - All corporations, companies, partnerships or persons keeping the books of accounts mentioned in the preceding Section may, at their ______ keep subsidiary books as the needs of their business may require:
OPTION
CHAPTER II
ADMINISTRATIVE PROVISIONS
SEC. 236. Registration Requirements. -
(A) Requirements. - Every person subject to any internal revenue tax shall register once with the appropriate Revenue District Officer:
(1) Within ten _________ from date of employment, or
(2) On or before the commencement of business, or
(3) Before payment of any tax due, or
(4) Upon filing of a return, statement or declaration as required in this Code
10 days of employment
CHAPTER II
ADMINISTRATIVE PROVISIONS
SEC. 236. Registration Requirements. -
(A) Requirements. - Every person subject to any internal revenue tax shall register once with the appropriate Revenue District Officer:
(1) Within ten 10 days from date of employment, or
(2) On or before the _________ of business, or
(3) Before payment of any tax due, or
(4) Upon filing of a return, statement or declaration as required in this Code
commencement
CHAPTER II
ADMINISTRATIVE PROVISIONS
SEC. 236. Registration Requirements. -
(A) Requirements. - Every person subject to any internal revenue tax shall register once with the appropriate Revenue District Officer:
(1) Within ten 10 days from date of employment, or
(2) On or before the commencement of business, or
(3) ______________ of any tax due, or
(4) Upon filing of a return, statement or declaration as required in this Code
Before payment
CHAPTER II
ADMINISTRATIVE PROVISIONS
SEC. 236. Registration Requirements. -
(A) Requirements. - Every person subject to any internal revenue tax shall register once with the appropriate Revenue District Officer:
(1) Within ten 10 days from date of employment, or
(2) On or before the commencement of business, or
(3) Before payment of any tax due, or
(4) Upon ______ of a return, statement or declaration as required in this Code
Filing
(B) Annual Registration Fee. - An annual registration fee in the amount of ________ for every separate or distinct establishment or place of business, including facility types where sales transactions occur, shall be paid upon registration and every year thereafter ____________________: Provided, however, That cooperatives, individuals earning purely compensation income, whether locally or abroad, and overseas workers are not liable to the registration fee herein imposed.
500 five hundred pesos
on or before last day of January
(B) Annual Registration Fee. - An annual registration fee in the amount of Five hundred pesos (P500) for every separate or distinct establishment or place of business, including facility types where sales transactions occur, shall be paid upon registration and every year thereafter on or before the last day of January:
Provided, however, That -________ individuals earning purely ____________ whether locally or abroad, and __________________ are not liable to the registration fee herein imposed.
The registration fee shall be paid to an authorized agent bank located within the revenue district, or to the Revenue Collection Officer, or duly authorized Treasurer of the city of municipality where each place of business or branch is registered.
cooperatives
Compensation income
overseas workers
J-Any person required under the authority of this Code to make, render or file a return, statement or other document shall be supplied with or assigned a __________________which he shall indicate in such return, statement or document filed with the Bureau of Internal Revenue for his proper identification for tax purposes, and which he shall indicate in certain documents
Taxpayer Identification Number (TIN)
Only _____ Taxpayer identification Number (TIN) shall be assigned to a taxpayer.
One
Section 237- All persons subject to an internal revenue tax, shall at point of each sale and transfer of merchandise or for services rendered valued at __________.
100 or more
The original of each receipt or invoice shall be issued to the purchaser, customer or client at the time the transaction is effected, who, if engaged in business or in the exercise of profession, shall keep and preserve the same in his place of business for a period of _______ from the close of the taxable year in which such invoice or receipt was issued, while the duplicate shall be kept and preserved by the issuer, also in his place of business, for a like period.
3 years
SEC. 238. Printing of Receipts or Sales or Commercial Invoices. - All persons who are engaged in business shall secure from the _________________ an authority to print receipts or sales or commercial invoices before a printer can print the same.
No authority to print receipts or sales or commercial invoices shall be granted unless the receipts or invoices to be printed are serially numbered and shall show, among other things, the name, business style, Taxpayer Identification Number (TIN) and business address of the person or entity to use the same, and such other information that may be required by rules and regulations to be promulgated by the Secretary of Finance, upon recommendation of the Commissioner.
Bureau of Internal Revenue
SEC. 242. Continuation of Business of Deceased Person. - When any individual who has paid the annual registration fee dies, and the same business is continued by the person or persons interested in his estate, ____ additional payment shall be required for the residue of the term which the tax was paid: Provided, however, That the person or persons interested in the estate should, within thirty (30) days from the death of the decedent, submit to the Bureau of Internal Revenue or the regional or revenue District Office inventories of goods or stocks had at the time of such death.
The requirement under this Section shall also be applicable in the case of transfer of ownership or change of name of the business establishment.
no
