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TAXATION FINALS REVIEW > HEADS UP > Flashcards

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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
Place of Taxation
Situs of Taxation
24
Factors in determination of situs of taxation
1. Subject Matter 2. Nature of Tax 3. Citizenship of Taxpayer 4. Residence of Taxpayer
25
Person
Residence of Taxpayer
26
Real property or Tangible Personal Property
Domicile of the owner unless he/she acquired a situs elsewhere
27
Income
Taxpayer's residence or citizenship or place where the income was earned
28
Business occupation and transaction
Place where business is operated, Occupation being practiced and transaction completed
29
Transfer of Property
Taxpayer's residence or citizenship or location of the property
30
Basic Principles of Sound Tax System
1. Fiscal Adequacy 2. Administrative Feasibility 3. Theoretical Justice or Equity
31
Sources of revenue are sufficient to meet government expenditures
FISCAL ADEQUACY
32
The law must be capable of convenient , Just and Effective Administration
ADMINISTRATIVE FEASIBILITY
33
The tax imposed must be proportionate to taxpayer's ability to pay
THEORETICAL JUSTICE
34
For general purpose
Fiscal Purpose/ Raise Revenue
35
To regulate business, Conduct, Acts or Transaction
Regulatory Purpose
36
To achieve social/ Economic Benefits
Sumptuary purpose
37
Classification of Tax as to Subject Matter
1. Personal Poll or Capitalization 2. Property Tax 3. Excise or Privilege Tax
38
On persons residents of a particular Territory
PERSONAL POLL OR CAPITALIZATION
39
Upon performance of an act; Enjoyment of privilege; Engagement in occupation
Excise or Privilege tax
39
On personal or real property
Property Tax
40
Classification of Tax as to incidence
1. Direct Tax 2. Indirect Tax
41
both impact and incidence of taxation rest upon the same taxpayer
Direct Tax
42
Paid by any person rather than statutory tax payer
Indirect Tax
43
Person named by law to pay tax
STATUTORY TAX PAYER
44
One who actually pays the tax
Economic tax payer
45
Classification of tax as to amount
1. Specific Tax 2. Ad Valorem
46
Fixed amount on per unit basis (e.g kilo, liter etc)
SPECIFIC TAX
47
Fixed proportion upon the value of tax object
AD VALOREM
48
Classification of Tax as to rate
1. Proportional Tax 2. Progressive of Graduated Tax 3. Regressive Tax 4. Mixed Tax
48
Flat Fixed Rate Tax ; Emphasized Quality
Proportional Tax
48
Increasing rates as the tax base income
Progressive of Graduated Tax
49
Decreasing tax rates as the tax base increase; Anti-poor
Regressive Tax
50
annual income, gains or profits
Income tax
51
Gratuitous transfer of properties by a decedent upon death (6%)
Estate tax
52
Gratuitous transfer of properties by a living donor (6%)
Donor's tax
53
Consumption tax collected by VAT business taxpayers (6%)
Value Added Tax
54
tax on sin products and non-essential commodities
Excise Tax
55
Tax on documents instruments, loan agreements, etc
Documentary Stamp Tax
56
Requisites of citizen
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
Tax source of a resident citizen
Within and Without the PH
58
Tax source of non resident citizen
Within the Ph only
59
Tax source of resident alien
Within the Ph only
60
Tax source alien (Engage in trade and business)
Within the ph only
61
Tax source or non resident alien (Not engage on trade or business)
Within the ph only
62
Compensation income
Income tax
63
Business income
Income tax
64
Mixed income
income tax
65
Passive income
Final Tax
66
Earned with very minimal involvement from the taxpayer and is generally irregular
Passive income
67
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
Final Tax
68
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
De minimis benefits
69
The point at which tax is levied is also called
Impact of Taxation
70
Which of the following inappropriately describes the nature of taxation?
Generally for public purposes
71
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
D.
72
A. The power to tax includes the power to exempt B. The power to license includes the power to tax Which is true?
A only
73
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
D
74
Which is not an object of taxation? a. Persons b. Business c. Transactions d. Public Properties
D
75
That courts cannot issue injunction against the government's effort to collect taxes is justified by
Lifeblood doctrine
76
The power to enforce proportional contribution from the people for the support of the government is
Taxation
77
This theory underscores that taxes are indispensable to the existence of the state. Doctrine of equitable recoupment
Lifeblood doctrine
78
Which does not properly describe the scope of taxation? a.Comprehensive b.Supreme c. Discretionary d. Unlimited
C. Discretionary
79
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
C
80
What is the theory of taxation? a.Reciprocal duties of support and protection b.Necessity c.Constitutionality d.Public purpose
B
81
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
82
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
83
The agreement among nations to lessen tax burden of their respective subjects called a.Reciprocity b.International comity c. Territoriality d. Tax minimization
B
83
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
84
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
C
85
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
86
Which of the following is not exercised by the government? a.Taxation b.Police power c. eminent domain d. exploitation
C
87
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
B
88

TAXATION FINALS REVIEW (4 decks)

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