0.

How much is the amount of tax subject to 50%

surcharge?
A.
PhP 25,000
C. PhP 60,500
B.
PhP 30,250
D. None of choices
31. Dora Milaje has failed to pay the deficiency
tax and surcharges on the date appearing on
the notice and demand of the CIR amounting
PhP 1,450,000.
Compute for the deficiency interest of Dora
Milaje from the above failure.
A.
PhP 290,000
C. PhP 87,000
B.
PhP 174,000
D. None of choices
Taxation under the Local Government Code
32. Kart Victor purchased land in Capiz Province
with fair market value of PhP 1,200,000 and
zonal value of PhP 1,500,000 for PhP
1,300,000. How much is the minimum real
property tax to be paid to the Capiz Province
government?
A.
PhP 11,250
C. PhP 6,500
B.
PhP 7,500
D. Nil
33. Ivy Paints Corporation has the following
has paid the following taxes in 2021:
Tax as BOI-registered entity – PhP 25,000
Tax on agricultural products sold by
marginal farmers – PhP 15,000
Tax on gross receipts of transportation
contractors – PhP 10,000
Tax on premium paid by way of reinsurance
– PhP 8,000
Tax on registration of motor vehicles –
PhP 2,000
How much is the local taxes of Ivy Paints
Corporation in 2022?
A.
PhP 60,000
C. PhP 15,000
B.
PhP 35,000
D. None of choices
34. Fiona Floral Fragrances Corporation
imported perfumes with landed cost of PhP
1,000,000 in Cebu City. How much is the
amount of VAT on importation that the
company should pay to the City Government
of Cebu?
A.
Nil
C. PhP 120,000
B.
PhP 60,000
D. PhP 250,000
35. Mr. and Mrs. Valdez, resident citizens,
had the following data for the calendar
year:
Mr. Valdez
Salaries and bonus – PhP 500.75K
Assessed value of personal land in Manila
– PhP 1M
Mrs. Valdez
Gross receipts from business – PhP 725.7K
Assessed value of personal apartment
house – PhP 1.5M
Income from apartment house – PhP 600K
How much would be the total additional
community tax due in the succeeding year
aside from the PhP 5 basic community tax
of each spouse?
A.
PhP 4,236
C. PhP 1,826
B.
PhP 2,500