1.

Taxation is a required way of contributing to the government to bring in

revenue for any government operations.

2. Based on this theory, taxes must be paid by those who immediately benefit

from the government projects and initiatives and should be levied in accordance to the

advantages that persons received from the government.

3. According to this theory, taxes should be based on a person's income or

capacity to pay; hence, persons who earn more money or are wealthier should face

higher tax rates than those who are less wealthy.

4.According to this theory, income, wealth, and transactions should all be taxed

at a fixed percentage. As a result, persons who make more money and spend more

money should pay more in taxes, but not at a higher rate.

5.It means that regardless of company conditions, export taxes, trade balances,

or issues with economic adjustment, the sources of revenue as a whole ought to be able

to cover the growing expenses of the government. It implies that revenues should have

the flexibility to grow or shrink annually in response to changes in public spending.

6. According to this principle, a successful tax system should be transparent to

taxpayers, capable of being enforced by a sufficient number of staff members who have

received the appropriate training, convenient in terms of the time and method of
payment, and not unduly burdensome or discouraging to business activity.

7. This tax is one that is imposed on every piece of property within a given

territory on a specific date in proportion to its value or in accordance with other

reasonable methods of apportionment. The obligation to pay this tax is absolute and

unavoidable; it is not based on any voluntary action of a person's assessment.

8. Applies to all individuals engaged in the business of selling goods and services,

including producers, importers, wholesale distributors, merchants, and retailers. It also

applies to contractors and brokers.

9. This tax involves no assessment other than the listing and classification of the

item to be taxed and is a fixed or determinate sum imposed by the head, number, or

some standard of weight or measurement.

10. It is a fixed-proportion tax on the value of the asset against which the tax is

assessed, and in order to calculate the amount owed from each taxpayer, assessors or

appraisers must estimate the asset's value.

11. The Philippine government recently passed a tax reform bill that lowers the

personal income tax while raising the rates on fuel, vehicles, tobacco, and sugary

beverages to pay for infrastructure and development initiatives.

12. is a means of shifting the tax burden from one individual to another. For
instance, taxes paid by the manufacturer may be passed on to the consumer by

increasing the price of the product.

13. This is the decrease in the price of the taxed item due to the capitalized value

of future taxes that the buyer anticipates being required to pay.

14. Occurs when the manufacturer or producer who is subject to the tax pays the

fee and makes an effort to "recoup" the cost of the tax by enhancing his manufacturing

process.

15. Is the practice of the taxpayer to avoid paying taxes or to pay less by using

dishonest or unlawful techniques. This is also referred to as "tax evasion." Tax evasion

implies that the taxpayer acted with malice, fraud, bad faith, or intentional intent.

16. Is the exploitation of the taxpayer one of the lawful means to avoid or

minimize tax liability It is often referred to as "tax minimization."

17. In order to enforce the payment of taxes, the government may seize any type

of personal property, including stocks, other securities, bank accounts, debts, and

credits.

18. It describes a person who is single or unmarried. He or she may also be an

unmarried person who has been declared legally separated from their spouse or

annulled by a court and does not have any qualifying dependents.

 19. It refers to a man or woman who is not married or legally separated and who

is living with and dependent on him for their primary support. Such brothers or sisters

or children must be under the age of twenty-one (21) and must not be married or

otherwise in gainful employment, regardless of their age, if they are unable to support

themselves due to a mental or physical deficiency.

20. It refers to a person who has been validly wed, whether they have children or

not, and who has had their marriage solemnized by a religious or governmental

authority.

21. The taxpayer declares the facts regarding the type and extent of his

responsibility for the taxable year in a sworn statement.