LOCAL BUSINESS TAX

1. A province shall may impose a transfer tax on the sale, barter or donation of real property at the rate not exceeding _______of
1% of the amount of consideration or FMV of of real property whichever is higher. (sec 135)
a) 50%
b) 75%
c) 100%
d) All of the above

2. A city may impose a transfer tax on the sale, barter or donation of real property at the rate not exceeding _________ of 1% of
the amount of consideration or FMV of of real property whichever is higher. (sec 151)
a) 50%
b) 75%
c) 100%
d) All of the above

3. Individuals who had reach _______ years of age and have been employed for 30 days in a year are liable to pay community tax.
(sec 157)
a) 15
b) 18
c) 21
d) 30

4. The Sangunian may impose a surcharge not exceeding _________ of unpaid local tax due. (sec 168)
a) 10%
b) 20%
c) 24%
d) 25%

5. The interest charges for late payment of any unpaid local taxes shall in no case exceed _________ .(sec 169)
a) 24 months
b) 36 months
c) 48 months
d) 60 months

6. The taxpayer has a period of _______ from the date of payment of local taxes to formally file a written claim for refund for
erroneously assessed local tax. (sec 196)
a) 1 month
b) 1 year
c) 2 years
d) 5 years

7. The province may impose a professional tax of ________ per annum to professionals engaged in the practice of their
professions. (sec 139)
a) P300
b) P500
c) P1,000
d) P5,000

8. In case of failure to pay the local business tax or any other tax when due, the taxpayer shall be liable to the payment of
interest of ____________ on the unpaid amount or a fraction thereof, until the delinquent tax shall have been fully paid. (Sec 169)
a) 1% per month
b) 2% per month
c) 20% per annum
d) 36% per annum

9. The levying or imposition of tax under the local government units are passed through. (Sec 132)
a) House of Representative
b) Senate
c) Local Ordinance
d) None of the choices.

10. The province of Bulacan collected tax on sand, gravel and other quarry resources in the amount of P10M. How much is the
share of the barangay where the sand, gravel and other resources are extracted. (Sec 138)
a) P3M
b) P4M
c) P5M
d) P2M