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5. Who can impose tax on taxpayers? a. The Commissioner of the Bureau of internal Revenue b. The Congressmen and the Senators of the Philipines C. The President of the Philippines d. The secretary of the Department of Finance 6. All of the following are correct except one. a. The source of interest income is the country where the debtor resides. b. The source of interest income is the country where the creditor resides. C. Rents or royalties are considered derived from the country where the property is located. d. Income from personal services is considered derived from the country where the services were rendered. 7. The following winnings are exempt from income tax prior to effectivity of RA No. 10963 (TRAIN LAW), except? a. Lotto Winnings b. Winnings from PCSO c. Winnings from raffle of a private company d. None of the Above 8. John computed his tax and voluntarily paid the same thru the bank. The BIR concluded that John underraid, The underpayment was determined thru: a. Taxation b. Levy C. Assessment d. Collection 9. The sources from which income is derived a. Labor C. Profits derived from sale or exchange of capital assets b. illegal Activities d. All of the above

5. Who can impose tax on taxpayers? a. The Commissioner of the Bureau of internal Revenue b. The Congressmen and the Senators of the Philipines C. The President of the Philippines d. The secretary of the Department of Finance 6. All of the following are correct except one. a. The source of interest income is the country where the debtor resides. b. The source of interest income is the country where the creditor resides. C. Rents or royalties are considered derived from the country where the property is located. d. Income from personal services is considered derived from the country where the services were rendered. 7. The following winnings are exempt from income tax prior to effectivity of RA No. 10963 (TRAIN LAW), except? a. Lotto Winnings b. Winnings from PCSO c. Winnings from raffle of a private company d. None of the Above 8. John computed his tax and voluntarily paid the same thru the bank. The BIR concluded that John underraid, The underpayment was determined thru: a. Taxation b. Levy C. Assessment d. Collection 9. The sources from which income is derived a. Labor C. Profits derived from sale or exchange of capital assets b. illegal Activities d. All of the above

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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5. Who can impose tax on taxpayers? a. The Commissioner of the Bureau of Internal Revenue b. The Congressmen and the Senators of the Philippines C. The President of the Philippines d. The Secretary of the Department of Finance 6. All of the following are correct except one. a. The source of interest income is the country where the debtor resides. b. The source of interest income is the country where the creditor resides. C. Rents or royalties are considered derived from the country where the property is located. d. Income from personal services is considered derived from the country where the services were rendered. 7. The following winnings are exempt from income tax prior to effectivity of RA NO. 10963 (TRAIN LAVW), except? a. Lotto Winnings b. Winnings from PCSO c. Winnings from raffle of a private company d. None of the Above 8. John computed his tax and voluntarily paid the same thru the bank. The BIR concluded that John Yoderpaid. The underpayment was determined thru: a. Taxation b. Levy C. Assessment d. Collection 9. The sources from which income is derived a. Labor C. Profits derived from sale or exchange of capital assets b. illegal Activities d. All of the above
Transcribed Image Text:5. Who can impose tax on taxpayers? a. The Commissioner of the Bureau of Internal Revenue b. The Congressmen and the Senators of the Philippines C. The President of the Philippines d. The Secretary of the Department of Finance 6. All of the following are correct except one. a. The source of interest income is the country where the debtor resides. b. The source of interest income is the country where the creditor resides. C. Rents or royalties are considered derived from the country where the property is located. d. Income from personal services is considered derived from the country where the services were rendered. 7. The following winnings are exempt from income tax prior to effectivity of RA NO. 10963 (TRAIN LAVW), except? a. Lotto Winnings b. Winnings from PCSO c. Winnings from raffle of a private company d. None of the Above 8. John computed his tax and voluntarily paid the same thru the bank. The BIR concluded that John Yoderpaid. The underpayment was determined thru: a. Taxation b. Levy C. Assessment d. Collection 9. The sources from which income is derived a. Labor C. Profits derived from sale or exchange of capital assets b. illegal Activities d. All of the above
1. AKZ corgortation isengaged in the manufacture and sale of local cigarettes. The combined forces of the Bureau of Internal Revenue, the Bureau of Customs and the National Bureau of lInvestigation raided the warehouse of AC and found that the tax stamps attached to the cigarettes were detemined to be fake, AKZ committed: a. Tax avoidance b. Тах evasion c. Tax shifting d. Transformation 2., Situs of taxation on income from sale of property purchases a. Place of the Seller b. Place of Sale c. Place of buyer d. As determined by the Commissioner 3. Share in the Net distributable income of a general professional partnership by a resident citizen is subject to: a 10% final withholding tax b.20% final withholding tax S.6% capital gains tax d. Basic income tax 4. Alaw was signed by the President pardoning all delinquent taxpayers who are liable to pay estate taxes from 2017 and prior years. In this case, there is: a. Tax amnesty b. Tax condonation c. Tax exemption d. Transformation
Transcribed Image Text:1. AKZ corgortation isengaged in the manufacture and sale of local cigarettes. The combined forces of the Bureau of Internal Revenue, the Bureau of Customs and the National Bureau of lInvestigation raided the warehouse of AC and found that the tax stamps attached to the cigarettes were detemined to be fake, AKZ committed: a. Tax avoidance b. Тах evasion c. Tax shifting d. Transformation 2., Situs of taxation on income from sale of property purchases a. Place of the Seller b. Place of Sale c. Place of buyer d. As determined by the Commissioner 3. Share in the Net distributable income of a general professional partnership by a resident citizen is subject to: a 10% final withholding tax b.20% final withholding tax S.6% capital gains tax d. Basic income tax 4. Alaw was signed by the President pardoning all delinquent taxpayers who are liable to pay estate taxes from 2017 and prior years. In this case, there is: a. Tax amnesty b. Tax condonation c. Tax exemption d. Transformation
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