QUIZ # 1 ON TAXATION QUESTIONS

1. Differentiate taxes from taxation 2. Differentiate taxes from other inherent powers. 3. What are the characteristics of taxes? 4. Scope of the legislative taxing power/authority. 5. Illustrate the judicial power of review. 6. What is the tax payers suit? 7. Enumerate at least 5 specific tax avoidance (tax provisions or tax laws) 8. Explain the concept of double taxation. 9. MR. A entered into a contract with MR. B to construct a residential home. The parties agreed that A will shoulder their income tax liability of B. A failed to pay the tax, hence the BIR is now collecting from B. B refused to pay the tax invoking his contract with A and the constitutional provisions on his freedom to contract. Is Bs contention correct? 10. Because of the prevailing market crisis, ABC CORPORATION was granted by the state a 5% reduction of the income tax due from its sales, Mr. X a businessman questioned the legality of the state, invoking a violation of the equal protection clause from our Consti. Is Mr. X contention tenable or valid?

QUIZ # 2
1. What is the final income tax? And enumerate and give a brief description of the diff kinds of income subject to FIT. 2. What is a GPP? GPP? What is the tax liability of a

3. What is the MCIT? Who are the tax payerss liable and what are the requisites in order for MCIT TO APPLY? 4. What is the IAET? Who are the taxpayerss liable? 5. Differentiate an ordinary asset from a capital asset.