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19. 20, On April 15, 2016, the taxpayer filed his 2015 income tax return. BIR gave all the required notice. including the final assessment notice which was sent to the taxpayer on June 13, 2019, and received by him on June 30, 2019. The taxpayer protested the assessment on July 25, 2019. The protest was denied by the BIR in a decision dated September 15, 2019, which the taxpayer received on October 5, 2019. On October 29, 2019, the taxpayer appealed the decision to the CTA, but the CTA dismissed the appeal. Is the dismissal of the appeal by the CTA correct? a. Yes, because the assessment made by the BIR is valid. b. C. d. No, because the BIR assessment had already prescribed. Yes, because the taxpayer has only 15 days from receipt of the BIR decision to appeal. No, because the taxpayer has 30 days from receipt of the BIR decision to appeal. The following

19. 20, On April 15, 2016, the taxpayer filed his 2015 income tax return. BIR gave all the required notice. including the final assessment notice which was sent to the taxpayer on June 13, 2019, and received by him on June 30, 2019. The taxpayer protested the assessment on July 25, 2019. The protest was denied by the BIR in a decision dated September 15, 2019, which the taxpayer received on October 5, 2019. On October 29, 2019, the taxpayer appealed the decision to the CTA, but the CTA dismissed the appeal. Is the dismissal of the appeal by the CTA correct? a. Yes, because the assessment made by the BIR is valid. b. C. d. No, because the BIR assessment had already prescribed. Yes, because the taxpayer has only 15 days from receipt of the BIR decision to appeal. No, because the taxpayer has 30 days from receipt of the BIR decision to appeal. The following

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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19. 20. On April 15, 2016, the taxpayer filed his 2015 income tax return. BIR gave all the required notices, including the final assessment notice which was sent to the taxpayer on June 13, 2019, and received by him on June 30, 2019. The taxpayer protested the assessment on July 25, 2019. The protest was denied by the BIR in a decision dated September 15, 2019, which the taxpayer received on October 5, 2019. On October 29, 2019, the taxpayer appealed the decision to the CTA, but the CTA dismissed the appeal. Is the dismissal of the appeal by the CTA correct? a. Yes, because the assessment made by the BIR is valid. No, because the BIR assessment had already prescribed. Yes, because the taxpayer has only 15 days from receipt of the BIR decision to appeal. No, because the taxpayer has 30 days from receipt of the BIR decision to appeal. b. C. d. The following are related to the tax refund of a taxpayer: Filing of tax return and payment of tax Written claim for refund filed with BIR Receipt of denial of written claim by taxpayer June 24, 2020 July 12, 2021 June 8, 2022
Transcribed Image Text:19. 20. On April 15, 2016, the taxpayer filed his 2015 income tax return. BIR gave all the required notices, including the final assessment notice which was sent to the taxpayer on June 13, 2019, and received by him on June 30, 2019. The taxpayer protested the assessment on July 25, 2019. The protest was denied by the BIR in a decision dated September 15, 2019, which the taxpayer received on October 5, 2019. On October 29, 2019, the taxpayer appealed the decision to the CTA, but the CTA dismissed the appeal. Is the dismissal of the appeal by the CTA correct? a. Yes, because the assessment made by the BIR is valid. No, because the BIR assessment had already prescribed. Yes, because the taxpayer has only 15 days from receipt of the BIR decision to appeal. No, because the taxpayer has 30 days from receipt of the BIR decision to appeal. b. C. d. The following are related to the tax refund of a taxpayer: Filing of tax return and payment of tax Written claim for refund filed with BIR Receipt of denial of written claim by taxpayer June 24, 2020 July 12, 2021 June 8, 2022
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