Podcast
Questions and Answers
Taxation is a voluntary contribution from individuals to support the government.
Taxation is a voluntary contribution from individuals to support the government.
False
The National Internal Revenue Code (NIRC) is the Tax Code of 1987 of the Philippines.
The National Internal Revenue Code (NIRC) is the Tax Code of 1987 of the Philippines.
False
Taxation is a way of distributing the wealth of the government among its citizens.
Taxation is a way of distributing the wealth of the government among its citizens.
False
The power to tax is a delegated authority of the government.
The power to tax is a delegated authority of the government.
Signup and view all the answers
The Tax Reform for Acceleration and Inclusion Act (TRAIN Law) is Republic Act No. 8424.
The Tax Reform for Acceleration and Inclusion Act (TRAIN Law) is Republic Act No. 8424.
Signup and view all the answers
Taxation is a judicial function of the government.
Taxation is a judicial function of the government.
Signup and view all the answers
The purpose of taxation is to raise revenue for the government to support public needs.
The purpose of taxation is to raise revenue for the government to support public needs.
Signup and view all the answers
Taxes are optional contributions from persons and property.
Taxes are optional contributions from persons and property.
Signup and view all the answers
The power to tax is a constitutional right of the citizens.
The power to tax is a constitutional right of the citizens.
Signup and view all the answers
Taxation is a means of redistributing wealth among the citizens of a country.
Taxation is a means of redistributing wealth among the citizens of a country.
Signup and view all the answers
Shifting of tax burden only applies to direct taxes.
Shifting of tax burden only applies to direct taxes.
Signup and view all the answers
Tax avoidance is an illegal means of escaping taxation.
Tax avoidance is an illegal means of escaping taxation.
Signup and view all the answers
Tax evasion is a legal means of reducing tax liability.
Tax evasion is a legal means of reducing tax liability.
Signup and view all the answers
Shifting of tax burden is also known as tax minimization.
Shifting of tax burden is also known as tax minimization.
Signup and view all the answers
Undervaluing the property's price in a contract is a form of tax avoidance.
Undervaluing the property's price in a contract is a form of tax avoidance.
Signup and view all the answers
Registering a business as a proprietorship instead of a corporation to pay lesser taxes is an example of tax evasion.
Registering a business as a proprietorship instead of a corporation to pay lesser taxes is an example of tax evasion.
Signup and view all the answers
Shifting of tax burden is only applicable to real estate dealers.
Shifting of tax burden is only applicable to real estate dealers.
Signup and view all the answers
VAT is a direct tax.
VAT is a direct tax.
Signup and view all the answers
Tax evasion is a form of tax minimization.
Tax evasion is a form of tax minimization.
Signup and view all the answers
Shifting of tax burden involves the transfer of the burden of tax from the original payer to the government.
Shifting of tax burden involves the transfer of the burden of tax from the original payer to the government.
Signup and view all the answers
The power of taxation is considered the strongest of all the powers of the government.
The power of taxation is considered the strongest of all the powers of the government.
Signup and view all the answers
The Benefits-Protection Theory of taxation states that the government has a right to compel citizens to contribute to its expenses.
The Benefits-Protection Theory of taxation states that the government has a right to compel citizens to contribute to its expenses.
Signup and view all the answers
Fiscal Adequacy is a principle of sound tax system that ensures tax laws are capable of being effectively enforced with the least inconvenience to the taxpayer.
Fiscal Adequacy is a principle of sound tax system that ensures tax laws are capable of being effectively enforced with the least inconvenience to the taxpayer.
Signup and view all the answers
Direct Duplicate Taxation is a permissible kind of double taxation.
Direct Duplicate Taxation is a permissible kind of double taxation.
Signup and view all the answers
The Necessity Theory of taxation states that the government has the right to tax because it is necessary for its existence.
The Necessity Theory of taxation states that the government has the right to tax because it is necessary for its existence.
Signup and view all the answers
The power of eminent domain is the power of the government to regulate to promote welfare.
The power of eminent domain is the power of the government to regulate to promote welfare.
Signup and view all the answers
Tax evasion is a form of escape from taxation where the taxpayer shifts the tax burden to another person.
Tax evasion is a form of escape from taxation where the taxpayer shifts the tax burden to another person.
Signup and view all the answers
The Lifeblood Theory of taxation states that taxes are necessary for the existence of the government.
The Lifeblood Theory of taxation states that taxes are necessary for the existence of the government.
Signup and view all the answers
Indirect Duplicate Taxation arises when the same property or subject matter is taxed twice by the same taxing authority.
Indirect Duplicate Taxation arises when the same property or subject matter is taxed twice by the same taxing authority.
Signup and view all the answers
Abida Land, Inc. is a victim of direct duplicate taxation because it is paying both real property tax and an annual fee of Php20,000.00.
Abida Land, Inc. is a victim of direct duplicate taxation because it is paying both real property tax and an annual fee of Php20,000.00.
Signup and view all the answers
