Question 33

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Taxation is exercised both by the legislative and executive branch of the
government. Which of the following is not the function of the Congress?

Select one:

a.
All of these are functions of the Congress in taxation.

b.
Fixing the amount of tax.

c.
Assessment of tax liability.

d.
Selecting the kind of tax.

e.
Prescribing the rules of taxation.

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The correct answer is: Assessment of tax liability.

Question 34
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The following data were taken from Helen Fernandez, holding a managerial

position for 2021 taxable year:

Gross salaries per month ................................... P 50,000

SSS Contributions ............................................... 12,000

PhilHealth Contributions .................................. 7,200

Pag-IBIG Contributions ..................................... 4,800

Union dues ............................................................. 3,000

13th month pay .................................................... 50,000

De minimis benefits ............................................ 12,000

Questions:

1. The taxable compensation income subject to graduated rate under Section

P573,000
24(A) of the tax code is .
P27,000
2. The total income tax expense of Helen Hernandez is .

3. The total compensation and other benefits that is exempt from income tax on
P27,000
compensation totaled .

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The correct answer is:
The following data were taken from Helen Fernandez, holding a managerial
position for 2021 taxable year:
Gross salaries per month ................................... P 50,000
SSS Contributions ............................................... 12,000
PhilHealth Contributions .................................. 7,200
Pag-IBIG Contributions ..................................... 4,800
Union dues ............................................................. 3,000
13th month pay .................................................... 50,000
De minimis benefits ............................................ 12,000

Questions:
1. The taxable compensation income subject to graduated rate under Section
24(A) of the tax code is [P573,000].
2. The total income tax expense of Helen Hernandez is [P73,250].
3. The total compensation and other benefits that is exempt from income tax on
compensation totaled [P89,000].

Question 35
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Which of the following individual taxpayers is not covered by progressive tax?

Select one:

a.
Nonresident alien engaged in trade or business

b.
Nonresident citizen

c.
Resident citizen
d.
Nonresident alien not engaged in trade or business

e.
Resident alien

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The correct answer is: Nonresident alien not engaged in trade or business

Question 36
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A fundamental rule in taxation is that the property of one country may not be
taxed by another country, commonly known as _.

Select one:

a.
International inhibition

b.
International law

c.
International comity

d.
None of these
e.
Reciprocity

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The correct answer is: International comity

Question 39
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How will the local government units be able to exercise their taxing powers?

Select one:

a.
By the help of the Bureau of Internal Revenue

b.
By authority conferred by Congress.

c.
By the issuance of the Department of Finance

d.
By local legislation.

e.
All of these statements able LGUs to exercise local taxation.

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The correct answer is: By local legislation.

Question 40
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Which statement is wrong?

Select one:

a.
Generally, there is no limit on the amount of tax that may be imposed.

b.
The money contributed as tax becomes part of public funds.

c.
The power to tax is subject to inherent and constitutional limitations.

d.
The power of taxation may be exercised by the government, its political
subdivisions, and public utilities.

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The correct answer is: The power of taxation may be exercised by the
government, its political subdivisions, and public utilities.