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    Catherine Simeon
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    PRTC_TAX.pdf

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    10 views13 pages

    PRTC Tax PDF

    Uploaded by

    Catherine Simeon

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    of 13
    ch ests: Cause, agar 44 83897 (cbt 6 93 Aap, ngage 4 professional Services, Inc. exer rm Pes ad aig Gee FR) © CPA REVIEW OPEN FIRST PRE-BOARD EXAMINATIONS TAXATION asi Prices, Esta Tax] Donors Tax, VAT, Pereantge anc and cher pics [Exam Coverage [Exam Code FAX.OpenistPB. 5018 2 17, 2018 [Date “yustaucttor raxation Date ; i «= yess Seeit the Bik newer tye HRUCTIONS, i ony he eae fr So foinin gue provides, SUely NO Enns he ft Eesures LNG. 2 0 Soonccle ee tne folowing 9r€ S2c0rd3tY” PUPOSES Of the pone taxation, excent 7 Be Reagon of social inequity > peeetrage economic aroun §, Riis revenue for the Government se statement 1: A tax cannot Be imposed uniess itis su the clear and express language of a statute Peres Srttvene 2: Once a tax Is unquestionably mpose, a cin SF exampuion from tax payments rust be cle shown an Fees'ontanguage in the Taw too plain tobe mistaken ‘Stetement 1 Statement 2 ae “rae 5 Tue Falve c false False a False Te 2. Which of the following is not a power vested In the Bureau sf Internal Revenue? ‘assessment and collection of all national inter! revenue taxes, fees and charges. . The enforcement ofall forfeitures, penalties and fines. © The granting of tax exemptions and other tax incetis The execution of judgments in all cases decided in Fe favor by the Court of Tax Appeals and the ordintt ser = gan poe of tat tay ates rah at rca! rr th certainty the amount of taxes a (tere tax levied under the aw B omaty eho should collect the tax © SGermine who should be subject to the tax ‘me actual effort exerted by the government to effect the Tihation of wnat i dve from the taxpayer i known 9s a. Levy. Callecton, Payment. 4. Assessment. 6. Who makes revenue regulations? b Secretary of Finance 5, Commissioner of the Bureau of Internal Revenue Board of Accountancy &. House of Representatives 7. The fllowing are the requisites of a taxpayers sult, except: 4 That public money, earned from taxes, are being spent on ‘any improper purpose bs That the petitioner should assume the personality of a texpayer te gain perzonality to fle the su; ‘That the petitioner must be a cizen ofthe Philippines; That the pettioner seeks to restrain the respondent from wasting publc funds. 8, The following, except one, are basic principles of @ sound tax system 12) It should be capak tt must be progressive. Pr Sources, oF revenue must be sufcent to meet Government expenditures and other pubic needs: 44, Ie should be exerciged to promote public weer bie of being effectively enforce. tee wich of the following 1S vale bisis tor gy exemptions? Omg ty sed on contract, aw or treaty a, Based on pubbe patcy i, Bases on Fecirocty Ti Bases cen the rigors of International doube or mute taxation | a. Land Tony © 1m in ana BEA and it only 4. tone ofthe stove 14, Real property taxes should not disregard increases in te value of reel property occurring over a long period of tne. To do otherwise would wilate the canon of a sound ti system referrea to ‘3, theoretical justice i. fiscal adequacy administrative feasibity &, symbiotic relationship 12, The requirement of equality or theoretical justice is camped th ifthe taxis a. Progressive Ad valorem Regressive 6. Specific = caves inst trate a -iontcnamiri : gh rma om he et Beat na at est he BE? Py cee tree von | fo Yes Yes 7, 2 resident alien decedent ef | = STs sr 20 nen oa e No No No fe correct? M9 site 2 The estate may not be lable to estate tax. 2 The estate is absolutely net lable to estate tax, eaures payment of transfer ta. eerie nes EGtement 2: Teansfer tox acerues at the time of transfer of The estate is absolutely able to estate tax, {he decedent's property or rights to the hei. ‘Statement 1 Statement 2 su statement 4: A sole tsa form of transfer transaction that ko Tue rake - partnership of gains. False False Bistomant 2: Vanishing deductions is always @ dedute, | & ree The ihe exe propeties under te ene of | poe i sree tre tte sree te Sterent 1 statement 2 Redistebution of Benefit recewed State-partnership ue "rue : | ‘earth theo teary creo : rs : a he os te 2 ie Rise ote te ‘ i RS oe | cote ne a ‘a na ce 19.Don Pedro, a widower, died in May, 2017. tn his wil, bel Ie ett f720,00,000 fos Tor cre He aes Cenouse, ber dunno be the acinar of the ee 16. Three of the flloing are exngt oF excluded frm the

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