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GE 2 > Taxation > Flashcards

Taxation Flashcards

1
Q

a system that raises government revenue by collecting money from individuals and businesses

A

taxation

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2
Q

these are the primary source of revenue, enabling it to support the operation of the government, essential services, and infrastructure

A

taxes

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3
Q

supports projects, public services, and government programs

A

taxation

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4
Q

diezmos prediales, sanctorum, vinta, and donativo de zamboanga are examples of

A

direct taxes

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5
Q

this is the taxes on imported goods
a.) sancturom
b.) custom duties

A

b. custom duties

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6
Q

customs duties are ___ taxes imposed on imported goods, which make products/commodities more
expensive

a. direct taxes
b. indirect taxes

A

indirect

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7
Q

imported goods become cheaper in the:
a. custom duties
b. duty free shops

A

b. duty free shops

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8
Q

rizal drafted a petititon against the:
a. jews
b. dominicans

A

dominicans

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9
Q

________ practically owned the land that is why rizal drafted a petition

a. spaniards
b. dominicans

A

dominicans

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10
Q

we all pay ___ taxes because of VAT
a. direct
b. indirect

A

indirect

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11
Q

VAT started during the time of Former President?
a. estrada
b. cory aquino
c. ramos

A

b.cory aquino

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12
Q

the vat started at ___% at every stage of production and today we have the highest = 12%

a. 4%
b. 8%

A

b. 8%

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13
Q

____ taxes were used to increase the revenue and control consumption

A

excise

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14
Q

started by the americans, but duterte would use this
a. vat
b. excise tax

A

b. excise tax

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15
Q

Before = Fixed-income earners above Php ______ were taxed very high (25-30%)

a. 200,000
b. 250, 000
c. 300,000

A

200,000

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16
Q

After = Fixed-income earners above Php _______ were taxed less (10-15%)

a. 200,000
b. 250, 000
c. 300,000

A

250,000

17
Q

Fixed-income earners include ______

a. teachers, government employees
b. Doctors and lawyers

A

a. teachers, government employees

18
Q

___ and ____ are not included as they declare their income, which helps them
evade proper tax
a. teachers, government employees
b. Doctors and lawyers

A

b. Doctors and lawyers

19
Q

____ payment for amusement, films, leisure, etc.

a. amusement tax
b. sin tax

A

a. amusement tax

20
Q

____ tax levied on alcohol, tobacco, etc. (compromise health)

a. amusement tax
b. sin tax

A

b. sin tax

21
Q

the money from sin ta is directed to the which department of the government

A

DOH

22
Q

Former President Jospeh Estrada had a program “pera para sa resibo” which encouraged people to ask for?

A

receipt

23
Q

Before
■ Gas = Php ____/ L (excise tax)
■ Diesel = Php ____/L (excise tax)

A

■ Gas = Php 4/ L (excise tax)
■ Diesel = Php 0/L (excise tax)

24
Q

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

A

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

25
Q

any changes in the price of petroleum affect the _______ of commodities as it is involved in every stage
of production = transportation, fuel, machinery, etc.

A

final price

26
Q

A government cannot function without -___

A

taxes.

27
Q

However, a government may not collect_____ = Brunei Darussalam

A

income tax

28
Q

the primary source of income was____ and _____ products, which compensates for the lack of income
tax collection

A

oil and petroleum

29
Q

can have very high taxes (up to 60%) = Finland, Sweden, Norway

a. welfare state
b.democratic

A

a. welfare state

30
Q

○ money at the time of Japanese rule had no value = play money

A

mickey mouse money

31
Q

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

A

○ 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

32
Q

what are VAT-exempt products

A

fish in their natural state, vegetables picked directly, natural resources before processing

33
Q
A

GE 2 (4 decks)

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