I. True or False 1. Taxation is a process or means by which the sovereign, through its law-making body raises income to defray the expenses of the government. 2. Taxes are revenues raised in the exercise of the police power of the State. 3. The three fundamental powers of the State are Inherent in the State and may be exercised without the need of any constitutional grant. 4. The State's Power to tax is inherently legislative in character. Therefore, collection and assessment of tax is a legislative function. 5. The Power of Eminent Domain is the power of the State to acquire private property for public purpose upon payment of low compensation.

I. True or False 1. Taxation is a process or means by which the sovereign, through its law-making body raises income to defray the expenses of the government. 2. Taxes are revenues raised in the exercise of the police power of the State. 3. The three fundamental powers of the State are Inherent in the State and may be exercised without the need of any constitutional grant. 4. The State's Power to tax is inherently legislative in character. Therefore, collection and assessment of tax is a legislative function. 5. The Power of Eminent Domain is the power of the State to acquire private property for public purpose upon payment of low compensation.

Business/Professional Ethics Directors/Executives/Acct

8th Edition

ISBN:9781337485913

Author:BROOKS

Publisher:BROOKS

Chapter6: Professional Accounting In The Public Interest

Section: Chapter Questions

Problem 34.1EC

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Taxation is NOT:a. A contribution for the support of a government required of persons, groups, orbusinesses within the domain of that governmentb. A means by which governments finance their expenditure by imposing charges oncitizens and corporate entitiesc. An act by which the sovereign, through its lawmaking body, raises income to defray thenecessary expensesd. The process by which the sovereign through its law-making body, imposes burdens uponsubjects or objects within its jurisdiction for the purpose of raising revenues to carry outthe legitimate objects of the government
1. The following defines taxation, except: * a. It is an inherent power of the state. b. It is an executive prerogative. c. It is a process of collecting contributions. d.It is a mode of allocating government costs or burden to the people. 2. It is an economic principle that states that the amount of tax an individual pays should be dependent on the level of burden the tax will create relative to the wealth of the individual. * a. Cost allocation b. Ability to pay c. Benefit received d. Lifeblood doctrine
choose the correct answer for the following taxation question.
kindly answer the second question, 2. the state... choose the correct answer.
Taxation is an inherent power being an attribute of sovereignty. The following are manifestations of taxation being an inherent power, EXCEPT? Courts cannot issue an injunction to enjoin the collection of taxes There should be no improper delegation of the power to tax. Taxes may be imposed even without a constitutional grant The State has the right to select the subjects and objects of taxation.
Read each sentence carefully and determine whether the statement is TRUE or FALSE. 1. Taxation is necessary in order for sovereign government to exist and survive. 2. Raising revenue for public purpose is secondary objective of taxation. 3. Tax is often referred to the "peanut butter" of the government. 4. Taxation is legislative in nature. Tax laws must first be enacted before taxes can be imposed. 5. Taxation is not subject to inherent or constitutional limitations. 6. The power to create tax laws generally cannot be delegated. 7. The Supreme Court has the power to make final judgment on tax cases. 8. Taxation is based on the theory that the government and its people have the reciprocal duties to support each other. 9. The public receive indirect benefits from taxation through public services, such as use of public roads, use of free medical services, assistance during calamities and the like. 10. After being levied in the Congress, national tax laws are administered by the BIR.
If the power of taxation is an inherent power and therefore there is no need for constitutional grant for the State to exercise it, why do we have several provisions in our Constitution dealing with the power of taxation?
Among the inherent powers of the State:A. Taxation is the most punitive and restricting.B. Taxation constitutes the most indirect form of taking.C. Taxation constitutes the most direct form of equivalent compensation.D. Taxation is the most unlimited in terms of the amount or value to be taken.
• Fiscal Adequacy - sources of revenue should be sufficient to meet the demands of public expenditure. ● BASIC PRINCIPLES OF A SOUND TAX SYSTEM ● Equality or theoretical Justice tax burden should be in proportion to the taxpayer's ability to pay. (Ability-To-Pay Principle) - Administrative Feasibility tax laws should be capable of convenient, just and effective administration. - A) Which do you think is the most important among the three inherent powers of the state? Why? B) If a tax law violates one of the three principles of sound tax system, is it necessarily null and void? Explain your answer.
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…
Which is an incorrect statement regarding taxes? * a. Taxes are necessary for the continued existence of the government. b. The obligation to pay tax does not rest upon the privilege enjoyed by or the protection afforded to the citizen of the government but upon the necessity of money for the support of the state. c. There should be personal benefit enjoyed from the government before one is required to pay tax. d. Taxes should be collected without unnecessary delay but its collection should not be tainted with arbitrariness. e. Answer not given
Which of the following statements are correct? i. A tax is a statutory obligation that is imposed by an act of parliament in a country. ii. A tax is any deduction taken from a person’s salary by the government. iii. Taxation is the major source of government income. iv. Direct and indirect taxes are the two broad categories of taxation.