1. The total amount due on Feb.

10, 2021 shall be:

a. P103,215.09 c. P248,530.16
b. P145,315.07 d. P1,498,530.16

2. The rate of deficiency and delinquency interest prior to the effectivity of the TRAIN Law is:
Deficiency interest Delinquency interest
a. 12% 20%
b. 20% 12%
c. 12% 12%
d. 20% 20%

3. The rate of deficiency and delinquency interest upon the effectivity of the TRAIN Law is:
Deficiency interest Delinquency Interest
a. 12% 20%
b. 20% 12%
c. 12% 12%
d. 20% 20%

4. Statement 1: Double imposition of both deficiency and delinquency interest is applicable under Sec.
249 of the Tax Code prior to its amendment under RA 10963 (TRAIN Law).
Statement 2: Upon effectivity of the TRAIN Law, in no case shall the deficiency and delinquency interest
be imposed simultaneously.
a. Only statement 1 is correct
b. Only statement 2 is correct
c. Both statements are correct
d. Both statements are incorrect

Use the following data for the next four (4) questions:
Pedro has been assessed of delinquency income tax of P1,000,000, exclusive of interest and surcharge for
2015 taxable year. The tax liability has remained unpaid despite the lapse of June 30, 2017, the deadline for
the payment stated in the notice and demand issued by the Commissioner, Payment was made by the taxpayer
on Feb 10, 2018.

5. The correct amount of surcharge, if any, shall be:

a. P120,000 c. P500,000
b. P250,000 d. nil

6. The total amount of deficiency interest shall be:

a. P20,106.54 c. P342,365.76
b. P241,643.84 d. P170,496.93

7. The total amount of delinquency interest shall be:

a. P20,106.54 c. P342,365.76
b. P241,643.84 d. P170,496.93

8. The total amount due on Feb. 10, 2018 shall be:

a. P395,315.07 c. P1,491,643.84
b. P491,643.84 d. P1,762,962.69

Use the following data for the next four (4) questions [RR 18-2013]:
Assuming that in calendar year 1997, ABC Company filed a false and fraudulent return was assessed of
deficiency basic income tax amounting to P100,000. Assume further that ABC timely protested the said
assessment. After exhaustion of all administrative remedies, the assessment was withheld and became final
and executory and demandable on April 15, 2001. However, the payment was made only on April 15, 2003.

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 9. The correct amount of surcharge, if any, shall be:
a. P25,000 c. P100,000
b. P50,000 d. nil

10. The total amount of deficiency interest shall be:

a. P40,000 c. P84,000
b. P60,000 d. P100,000

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