TAXATION MIDTERM EXAM

42問 • 1年前

問題一覧

The State, having sovereignty, can enforce contributions (tax) upon its citizens even without a specific provision in the constitution authorizing it. Which of the following will justify the foregoing statement? Statement 1: it is so because the state has the supreme power to command and enforce obedience to its will from the people within its jurisdiction. Statement 2: Any provision in the Constitution regarding taxation does not create rights for the sovereignty to have the power to tax but it merely constitutes limitations upon the supremacy of tax power.

Both statements are correct

The following statements correctly describe the power of the state to tax, except

the state can exercise the power of the taxation only if it is expressly mentioned in the constitution.

Which statement is wrong?

the power of taxation may be exercised by the government, it's political subdivisions, and public utilities

They exist independent of the constitution being fundamental power of the state except

power of recall

Statement 1: the constitution is the source of the states taxing power Statement 2: the police power of the government may be exercised through taxation

only statement 2 is correct

Statement 1: the constitution cannot take away the inherent power of the state but may only prescribed its limitation Statement 2: no laws are necessary to confer the inherent powers of the state upon any government exercising sovereignty.

both statements are correct

The power to demand proportionate contribution from persons and property to defray the necessary expenses of the government

power of taxation

The power to regulate liberty and property to promote the general welfare

police power

The power to acquire private property upon payment of just compensation for public purpose

power of eminent domain

The strongest of all inherent powers of the government is?

power of taxation

Which of the following statements is not correct?

the power of taxation in the philippines constitution are grants of power and not limitation on taxing power

Which of the following statements is not correct?

the government can enforce contribution upon its citizens only when the constitution grants it

Statement 1: the power to tax is supreme plenary comprehensive and without any limit because the existence of the government is a necessity. Statement 2: the discretion of the congress in imposing taxes expense to the mode method and kind of tax even if the constitution provides otherwise

both statements are incorrect

How broad is the power of the legislature to impose taxes? Answer 1: the legislature has limited discretion as to the persons property or occupation to be taxed, where there are no constitutional restrictions, provided the property is within the territorial jurisdiction of the states Answer 2: the legislation has the right to finally determine the amount or rate of tax, in the absence of any constitutional prohibitions and it may levy attacks of any amount as it sees fit.

answer 1 and 2 are correct

Which of the following statements is correct? I. Taxes are pecuniary in nature II. It co-exist with the existence of the state III. Imposed on persons and property beyond the territorial jurisdiction of the state

l and ll only

Statement 1: the amount of money raised for the government in the exercise of its power to tax is and police power is based on the needs of the government Statement 2: the amount of money raised for the government in the exercise of its power of eminent domain is based on the cost of processing the transfer of property from the private entities

both statements are incorrect

Which of the following statement is true?

the exercise of the power of eminent domain and police power can be expressedly delegated to the local government units by the law making body

Statement 1: Since taxation presupposes are equivalent form of compensation, there should be a direct and proximate advantage received by anytaxpayer before he could be required to pay the tax Statement 2: compensation under police tower is the intangible feeling of contribution to the general welfare of the people

Only statement 2 is correct

Which of the following may not raise money for the government?

Power of eminent domain

Which statements below express the life blood theory?

the underlying basis of taxation is government necessity, for without taxation, a government can't either exit nor endure

After having being formed that the most of the massage parlors in the city are being used as fronts of prostitution, the sangguniang panlungsod of manila passed a tax ordinance subjecting massage parlors within its jurisdiction to such "onerous taxes"that leave the no other alternative but to stop operating. The passage of the ordinance is a valid exercise of-

police power and power of taxation

Fixing tax rate to be imposed is best described as a (an):

tax legislative function

All of the following are legislative aspect of taxation except:

Valuation a property for taxation

The commissioner of internal revenue is granted certain powers under the tax code

enact laws and make amendments

How will local government units be able to exercise their taxing powers?

by local legislation

Levying of local government taxes may be exercised by:

the legislative branch of the local government only

The legislative body enactment laws to raise revenues in the absence of constitutional provision granting said body to power to tax. Which of the following statements will justify the enactment of such law? The legislative body may enough tax laws even in the absent of constitutional provision because the power to tax is inherent in the government and norm merely a constitutional grant. The power of taxation is an essential and inherent attribute of sovereignty belonging as a matter of right to every independent government without being expressedly granted by the people

both l and ll

The city council passed a tax ordinance imposing an occupation tax or profession or occupation of an "industrial engineer" GJ is the only person with such an occupation in the city. which of the following is correct?

the ordinance is a valid exercise of the councils power to enact tax ordinance to raise revenue under the local government code

One of the following is not a characteristic or an element of tax

it is payable in money or in kind

Being legislative in nature, the power to tax may not be delegated except:

all of the choices

All of the following except one are basic principles of a sound taxation system

inherent in sovereignty

Under this basic principle of a sound taxation system, the government should not incur a deficit:

fiscal adequacy

The basic principle of a sound taxation system where "taxes must be based on the taxpayers ability to pay" is called:

theoretical justice

The tax law must be capable of convenient, just an effective administration

administrative feasibility

The following constitute double taxation, except one:

both taxes are imposed in the same amount

Which is not a double taxation?

imposition of tax on the finished products and the raw materials used in the production of the said finished products

One of the following is a false statement about double taxation which is it?

A 20% final withholding tax on interest income on bank deposits and a 5% gross receipts tax on banks is a direct duplicate taxation

Which of the following statements is correct?

indirect double taxation is legal as long as there is no violation of equal protection and uniformity classes of the constitution

This requires that all subjects or objects of taxation, similarities situated, are to be treated alike or put on equal footing both in privilege and liabilities

uniformity

Rihanna, an american singer was engaged to sing for one week at the western philippine plaza after which she returned to the USA. For income tax purposes she shall be classified as:

non-resident alien not engaged in trade or businesses

Mr and Mrs dela cruz both CPAs in residence of thephilippines with five minor children had developing data for 2023 taxable year Salaries wife - P1,200,000 13th month pay and other bonuses wife - 140,000 professional fees (net of 5% CWT) - 1,710,000 Expenses - Practice of Profession (15% nondeductible ) - 800,000 rental income (net a 5% withholding tax) - 190,000 rental expenses - 80,000 other income husband ( 20% non taxable) - 80,000 the taxable income of mr dela cruz is:

P 684, 000

The taxable income of mrs dela cruz is:

P1, 870,000

MONETARY REVIEWER LESSON 1

Shiela Caber · 11問 · 1年前

MONETARY REVIEWER LESSON 1