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TAXATION FINALS REVIEW > HEADS UP > Flashcards

HEADS UP Flashcards

1
Q

Is the inherent power of the state by which the sovereign raises revenue to defray the necessary expenses of the government

A

TAXATION

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2
Q

Subject and Objects that is taxable (PPP)

A

PERSON, PROPERTY, PRIVELAGES

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3
Q

Aspect of taxation

A

LEVYING, ASSESSMENT, COLLECTION

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4
Q

Legislative, Lawn making body, Sanggunian

A

LEVYING

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5
Q

Determining the amount, Executive

A

ASSESSMENT

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6
Q

BIR Customs, Treasury of Baranggay

A

COLLECTION

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7
Q

Primary purpose of taxation

A

To raise revenue/ Fiscal Property

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8
Q

Secondary Purpose of Taxation

A
  1. Promotion of General Welfare
  2. Reduction of Social Inequity
  3. Economic Growth
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9
Q

Social and Economic Objectives of Taxation

A

a. Shifting of Wealth from rich to poor
b. Maintaining Price Stabilization
c. Stimulating Economic growth
d. Encouraging full employment

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10
Q

Life Blood Doctrine

A

The government will not exist without taxation

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11
Q

Holds that individual should be taxes in proportion to the benefit they received from the (payment) government programs and projects at taxes paid

A

BENEFIT RECEIVED THEORY

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12
Q

Holds that people taxes should be based upon, Usually as measured by income or wealth

A

Ability-To-Pay Principle

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12
Q

The power to tax involves the power to destroy

A

MARSHALL DOCTRINE

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12
Q

Taxation power is not power to destroy while the court sits

A

Holmes Doctrine

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13
Q

It means taxing the same person for the same tax period and same activity twice by the same jurisdiction

A

DOUBLE TAXATION

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14
Q

Modes of Eliminating Double Taxation (TTT)

A

Tax Deduction
Tax Credit
Treaty with other state

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15
Q

The tax is transferred to another without violating the law

A

SHIFTING

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16
Q

The reduction in the prize of the taxed object equal to the capitalized value of future taxes of the purchaser is expected to be called upon to pay

A

CAPITALIZATION

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17
Q

Exploitation by the taxpayer of legally permissible alternative tax rates or methods of assessing Taxable or income “Tax Minimization

A

TAX AVOIDANCE

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18
Q

An illegal practice where a person or entity intentionally does not pay due taxes

A

TAX EVASION

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19
Q

Inherent Powers of the State

A

TAXATION, POLICE POWER, EMMINENT DOMAIN

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20
Q

Is the power of the state to regulate the liberty and property for the promotion of general welfare

A

POLICE POWER

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21
Q

is the power of the state to forcible acquire private property upon payment of just compensation, for some intended public use

A

EMMINENT DOMAIN

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22
Q

Essential Characteristics of Tax

A
  1. It is an enforced contributions
  2. It is levied by the law making body
  3. It is proportionate in character
  4. It is generally payable in money
  5. It is imposed for the purpose of raising revenue
  6. It is used for public purpose
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23
Q

Place of Taxation

A

Situs of Taxation

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24
Q

Factors in determination of situs of taxation

A
  1. Subject Matter
  2. Nature of Tax
  3. Citizenship of Taxpayer
  4. Residence of Taxpayer
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25
Q

Person

A

Residence of Taxpayer

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26
Q

Real property or Tangible Personal Property

A

Domicile of the owner unless he/she acquired a situs elsewhere

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27
Q

Income

A

Taxpayer’s residence or citizenship or place where the income was earned

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28
Q

Business occupation and transaction

A

Place where business is operated, Occupation being practiced and transaction completed

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29
Q

Transfer of Property

A

Taxpayer’s residence or citizenship or location of the property

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30
Q

Basic Principles of Sound Tax System

A
  1. Fiscal Adequacy
  2. Administrative Feasibility
  3. Theoretical Justice or Equity
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31
Q

Sources of revenue are sufficient to meet government expenditures

A

FISCAL ADEQUACY

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32
Q

The law must be capable of convenient , Just and Effective Administration

A

ADMINISTRATIVE FEASIBILITY

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33
Q

The tax imposed must be proportionate to taxpayer’s ability to pay

A

THEORETICAL JUSTICE

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34
Q

For general purpose

A

Fiscal Purpose/ Raise Revenue

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35
Q

To regulate business, Conduct, Acts or Transaction

A

Regulatory Purpose

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36
Q

To achieve social/ Economic Benefits

A

Sumptuary purpose

37
Q

Classification of Tax as to Subject Matter

A
  1. Personal Poll or Capitalization
  2. Property Tax
  3. Excise or Privilege Tax
38
Q

On persons residents of a particular Territory

A

PERSONAL POLL OR CAPITALIZATION

39
Q

Upon performance of an act; Enjoyment of privilege; Engagement in occupation

A

Excise or Privilege tax

39
Q

On personal or real property

A

Property Tax

40
Q

Classification of Tax as to incidence

A
  1. Direct Tax
  2. Indirect Tax
41
Q

both impact and incidence of taxation rest upon the same taxpayer

A

Direct Tax

42
Q

Paid by any person rather than statutory tax payer

A

Indirect Tax

43
Q

Person named by law to pay tax

A

STATUTORY TAX PAYER

44
Q

One who actually pays the tax

A

Economic tax payer

45
Q

Classification of tax as to amount

A
  1. Specific Tax
  2. Ad Valorem
46
Q

Fixed amount on per unit basis (e.g kilo, liter etc)

A

SPECIFIC TAX

47
Q

Fixed proportion upon the value of tax object

A

AD VALOREM

48
Q

Classification of Tax as to rate

A
  1. Proportional Tax
  2. Progressive of Graduated Tax
  3. Regressive Tax
  4. Mixed Tax
48
Q

Flat Fixed Rate Tax ; Emphasized Quality

A

Proportional Tax

48
Q

Increasing rates as the tax base income

A

Progressive of Graduated Tax

49
Q

Decreasing tax rates as the tax base increase; Anti-poor

A

Regressive Tax

50
Q

annual income, gains or profits

A

Income tax

51
Q

Gratuitous transfer of properties by a decedent upon death (6%)

A

Estate tax

52
Q

Gratuitous transfer of properties by a living donor (6%)

A

Donor’s tax

53
Q

Consumption tax collected by VAT business taxpayers (6%)

A

Value Added Tax

54
Q

tax on sin products and non-essential commodities

A

Excise Tax

55
Q

Tax on documents instruments, loan agreements, etc

A

Documentary Stamp Tax

56
Q

Requisites of citizen

A
  1. Citizens of the PH at the time of adoption of the Feb. 2 1987 constitution
  2. Those whose fathers and mother are citizens of PH
  3. Those born before Jan. 17 1973
  4. Those who are naturalized in accordance with the law
57
Q

Tax source of a resident citizen

A

Within and Without the PH

58
Q

Tax source of non resident citizen

A

Within the Ph only

59
Q

Tax source of resident alien

A

Within the Ph only

60
Q

Tax source alien (Engage in trade and business)

A

Within the ph only

61
Q

Tax source or non resident alien (Not engage on trade or business)

A

Within the ph only

62
Q

Compensation income

A

Income tax

63
Q

Business income

A

Income tax

64
Q

Mixed income

A

income tax

65
Q

Passive income

A

Final Tax

66
Q

Earned with very minimal involvement from the taxpayer and is generally irregular

A

Passive income

67
Q

Tax withheld at sources. The amount of income tax is withheld by a withholding agent is constituted as full and final payment of the income tax from the payee on the said incom

A

Final Tax

68
Q

Benefits that has small values provided by the employers to the employee on top of the basic compensation intended for the general welfare of the employee

A

De minimis benefits

69
Q

The point at which tax is levied is also called

A

Impact of Taxation

70
Q

Which of the following inappropriately describes the nature of taxation?

A

Generally for public purposes

71
Q

Which is correct?
a.Tax condonation is a general pardon granted by the government
b.The BIR had five deputy commissioners
c.The government can still collect tax in disregard of a constitutional limitation because taxes are the lifeblood of the government
d.The president of the Philippines can change tariff or imposts without necessity of calling Congress to pass a law for that purpose

A

D.

72
Q

A. The power to tax includes the power to exempt
B. The power to license includes the power to tax
Which is true?

A

A only

73
Q

International double taxation can be mitigated by any of the following except
a.Providing allowance for tax credit
b.Provision of reciprocity provisions in tax laws
c.Provision of tax exemptions
d.Entering into treaties to form regional trade blockage against the rest of the world

A

D

74
Q

Which is not an object of taxation?
a. Persons
b. Business
c. Transactions
d. Public Properties

A

D

75
Q

That courts cannot issue injunction against the government’s effort to collect taxes is justified by

A

Lifeblood doctrine

76
Q

The power to enforce proportional contribution from the people for the support of the government is

A

Taxation

77
Q

This theory underscores that taxes are indispensable to the existence of the state. Doctrine of equitable recoupment

A

Lifeblood doctrine

78
Q

Which does not properly describe the scope of taxation? a.Comprehensive
b.Supreme
c. Discretionary
d. Unlimited

A

C. Discretionary

79
Q

All of these are secondary purposes of taxation except
a.To reduce social inequality
b.To protect local industries
c.To raise revenue for the support of the government
d.To encourage growth of local industries

A

C

80
Q

What is the theory of taxation?
a.Reciprocal duties of support and protection
b.Necessity
c.Constitutionality
d.Public purpose

A

B

81
Q

Which limitation of taxation is the concept of “situs of taxation” based?
a. Territoriality
b.Public purpose
c. International comity
d. Exemption of the government

A

A

82
Q

The constitutional exemption of religious or charitable institutions refers only to
a. Real property tax
b. Income tax
c. Property tax and income tax
d. Business tax

A

A

83
Q

The agreement among nations to lessen tax burden of their respective subjects called a.Reciprocity
b.International comity
c. Territoriality
d. Tax minimization

A

B

83
Q

Tax exemption bills are approved by
a.Majority of all members of Congress
b.Solely by the President of the Republic
c.2/3 of all members of Congress
d.Majority of the representativesconstituting a quorum

A

A

84
Q

Which is considered in the exercise of eminent domain? a.Public use
b.Just compensation
c. Both a and b
d. Neither a and b

A

C

85
Q

The general power to enact laws to protect the well-being of the people is called
a.Police power b.Eminent domain
c. Taxation
d. all of these

A

A

86
Q

Which of the following is not exercised by the government? a.Taxation
b.Police power
c. eminent domain
d. exploitation

A

C

87
Q

Select the correct statement
a.The provision on taxation in the Philippine Constitution are grants of the power to tax
b.The power to tax includes the power to destroy
c.When taxation is used as a tool for general and economic welfare, this is called fiscal purpose
d.The sumptuary purpose of taxation is to raise funds for the government

A

B

88
Q
A

TAXATION FINALS REVIEW (4 decks)

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