TRUE OR FALSE.1. Whenever there is conflict between the Tax Code and the Civil Code, Tax Code will prevailover Civil Code.2. Taxes are voluntary contributions to the government.3. Taxation is the government's legitimate means of interfering with the private properties of itssubject.4. Tax laws are given retroactive effect5. As a rule, doubts as to imposition must be resolved liberally in favor of the government.6. An aspect of tax power that could be delegated to the President covers both legislative andadministrative discretion.7. The power of judicial review in taxation is limited only to the interpretation and application oftax laws.8. No law granting any tax exemption shall be passed without the concurrence of the two-thirdsof the members of the Congress present.9.The primary requisite of equity principle is that each taxpayer should be required to contributeequal amounts in the form of taxes.10. All government entities regardless of their functions are exempted from taxes.11.Tax exemption is not transferable and assignable.

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1. Whenever there is conflict between the Tax Code and the Civil Code, Tax Code will prevail over Civil Code.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Question

TRUE OR FALSE.
1. Whenever there is conflict between the Tax Code and the Civil Code, Tax Code will prevail
over Civil Code.
2. Taxes are voluntary contributions to the government.
3. Taxation is the government's legitimate means of interfering with the private properties of its
subject.
4. Tax laws are given retroactive effect
5. As a rule, doubts as to imposition must be resolved liberally in favor of the government.
6. An aspect of tax power that could be delegated to the President covers both legislative and
administrative discretion.
7. The power of judicial review in taxation is limited only to the interpretation and application of
tax laws.
8. No law granting any tax exemption shall be passed without the concurrence of the two-thirds
of the members of the Congress present.
9.The primary requisite of equity principle is that each taxpayer should be required to contribute
equal amounts in the form of taxes.
10. All government entities regardless of their functions are exempted from taxes.
11.Tax exemption is not transferable and assignable.

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