Taxation Flashcards
a system that raises government revenue by collecting money from individuals and businesses
taxation
these are the primary source of revenue, enabling it to support the operation of the government, essential services, and infrastructure
taxes
supports projects, public services, and government programs
taxation
diezmos prediales, sanctorum, vinta, and donativo de zamboanga are examples of
direct taxes
this is the taxes on imported goods
a.) sancturom
b.) custom duties
b. custom duties
customs duties are ___ taxes imposed on imported goods, which make products/commodities more
expensive
a. direct taxes
b. indirect taxes
indirect
imported goods become cheaper in the:
a. custom duties
b. duty free shops
b. duty free shops
rizal drafted a petititon against the:
a. jews
b. dominicans
dominicans
________ practically owned the land that is why rizal drafted a petition
a. spaniards
b. dominicans
dominicans
we all pay ___ taxes because of VAT
a. direct
b. indirect
indirect
VAT started during the time of Former President?
a. estrada
b. cory aquino
c. ramos
b.cory aquino
the vat started at ___% at every stage of production and today we have the highest = 12%
a. 4%
b. 8%
b. 8%
____ taxes were used to increase the revenue and control consumption
excise
started by the americans, but duterte would use this
a. vat
b. excise tax
b. excise tax
Before = Fixed-income earners above Php ______ were taxed very high (25-30%)
a. 200,000
b. 250, 000
c. 300,000
200,000
After = Fixed-income earners above Php _______ were taxed less (10-15%)
a. 200,000
b. 250, 000
c. 300,000
250,000
Fixed-income earners include ______
a. teachers, government employees
b. Doctors and lawyers
a. teachers, government employees
___ and ____ are not included as they declare their income, which helps them
evade proper tax
a. teachers, government employees
b. Doctors and lawyers
b. Doctors and lawyers
____ payment for amusement, films, leisure, etc.
a. amusement tax
b. sin tax
a. amusement tax
____ tax levied on alcohol, tobacco, etc. (compromise health)
a. amusement tax
b. sin tax
b. sin tax
the money from sin ta is directed to the which department of the government
DOH
Former President Jospeh Estrada had a program “pera para sa resibo” which encouraged people to ask for?
receipt
Before
■ Gas = Php ____/ L (excise tax)
■ Diesel = Php ____/L (excise tax)
■ Gas = Php 4/ L (excise tax)
■ Diesel = Php 0/L (excise tax)
AFTER - to recover the loss; exclusive of VAT (2018)
■ Gas = Php ___/ L (excise tax increase) in a 3-year period
■ Diesel = Php ___/L (excise tax increase) in a 3-year period
AFTER - to recover the loss; exclusive of VAT (2018)
■ Gas = Php 10/ L (excise tax increase) in a 3-year period
■ Diesel = Php 10/L (excise tax increase) in a 3-year period
any changes in the price of petroleum affect the _______ of commodities as it is involved in every stage
of production = transportation, fuel, machinery, etc.
final price
A government cannot function without -___
taxes.
However, a government may not collect_____ = Brunei Darussalam
income tax
the primary source of income was____ and _____ products, which compensates for the lack of income
tax collection
oil and petroleum
can have very high taxes (up to 60%) = Finland, Sweden, Norway
a. welfare state
b.democratic
a. welfare state
○ money at the time of Japanese rule had no value = play money
mickey mouse money
what is the evolution of VAT?
1. cory aquino _____ the VAT
2. Ramos _____ by covering more commodities
3. Joseph estrada made it to _____, covering more and more commodities
○ Cory Aquino created the VAT
○ Ramos expanded the VAT by covering more commodities
○ Joseph Estrada made it to E-VAT, covering more and more commodities
what are VAT-exempt products
fish in their natural state, vegetables picked directly, natural resources before processing
