Podcast
Questions and Answers
What is the distinction between a warrant of levy and a warrant of distraint?
What is the distinction between a warrant of levy and a warrant of distraint?
- A warrant of levy is on property owned by the taxpayer but in the possession of a third party, while a warrant of distraint does not require advertisement.
- A warrant of levy is on real property owned by and in possession of the taxpayer, while a warrant of distraint is on personal property owned by and in possession of the taxpayer. (correct)
- A warrant of levy requires advertisement, while a warrant of distraint is on property owned by the taxpayer but in the possession of a third party.
- A warrant of levy is on personal property owned by and in possession of the taxpayer, while a warrant of distraint is on real property owned by and in possession of the taxpayer.
What happens if all proper charges are paid to the officer conducting the sale prior to the consummation of the sale of the goods or effects distrained?
What happens if all proper charges are paid to the officer conducting the sale prior to the consummation of the sale of the goods or effects distrained?
- The goods or effects distrained shall be restored to the owner. (correct)
- The goods or effects distrained shall no longer be restored to the owner.
- The goods or effects distrained shall be brought to the Regional District Officer.
- The goods or effects distrained shall be brought to the Revenue District Officer.
What is a written notice informing a Taxpayer that the findings of the audit conducted on his books of accounts and accounting records indicate that additional taxes or deficiency assessments have to be paid?
What is a written notice informing a Taxpayer that the findings of the audit conducted on his books of accounts and accounting records indicate that additional taxes or deficiency assessments have to be paid?
- Preliminary Assessment Notice
- Formal Assessment Notice (correct)
- Notice of Informal Conference
- Letter of Authority
For requests for reconsideration, within how many days from the date of filing of the letter of protest must the taxpayer submit all relevant supporting documents, otherwise the assessment shall become final?
For requests for reconsideration, within how many days from the date of filing of the letter of protest must the taxpayer submit all relevant supporting documents, otherwise the assessment shall become final?
Which of the following statements about the 1st and 2nd statements is correct?
Which of the following statements about the 1st and 2nd statements is correct?
Which of the following is true about a warrant of distraint?
Which of the following is true about a warrant of distraint?
When are senior citizens and PWDs required to submit their applications for the discounts on their water and electricity bills?
When are senior citizens and PWDs required to submit their applications for the discounts on their water and electricity bills?
When purchasing goods and services that have a promotional discount, which discount can senior citizens and PWDs avail?
When purchasing goods and services that have a promotional discount, which discount can senior citizens and PWDs avail?
What are the conditions for senior citizens to receive a 5% discount on their monthly water and electricity bills?
What are the conditions for senior citizens to receive a 5% discount on their monthly water and electricity bills?
Which of the following taxes are senior citizens and PWDs not exempted from?
Which of the following taxes are senior citizens and PWDs not exempted from?
What is the maximum monthly water consumption for senior citizens to receive the 5% discount?
What is the maximum monthly water consumption for senior citizens to receive the 5% discount?
What is the maximum monthly electricity consumption for senior citizens to receive the 5% discount?
What is the maximum monthly electricity consumption for senior citizens to receive the 5% discount?
According to the second statement, what power does the President have regarding a bill that penalizes crimes?
According to the second statement, what power does the President have regarding a bill that penalizes crimes?
Which of the following statements is correct regarding the two statements provided?
Which of the following statements is correct regarding the two statements provided?
A warrant of levy is issued on which type of property?
A warrant of levy is issued on which type of property?
If all proper charges are paid before the consummation of a sale related to the distraint of goods or effects, what happens to those goods or effects?
If all proper charges are paid before the consummation of a sale related to the distraint of goods or effects, what happens to those goods or effects?
What is the name of the written notice that informs a taxpayer about additional taxes or deficiency assessments to be paid based on an audit?
What is the name of the written notice that informs a taxpayer about additional taxes or deficiency assessments to be paid based on an audit?
Which of the following is NOT mentioned in the provided text?
Which of the following is NOT mentioned in the provided text?
What is the general principle regarding the relationship between tax treaty provisions and domestic law?
What is the general principle regarding the relationship between tax treaty provisions and domestic law?
Which power of the State is based on the presumption that the person parting with money or property receives a benefit?
Which power of the State is based on the presumption that the person parting with money or property receives a benefit?
Which basic principle of a sound tax system is met when Congress evolves a progressive system of taxation as mandated in the Constitution?
Which basic principle of a sound tax system is met when Congress evolves a progressive system of taxation as mandated in the Constitution?
Which of the following is not a basic principle of a sound taxation system?
Which of the following is not a basic principle of a sound taxation system?
Consider the following statements:
First statement: A violation of inherent limitations can amount to taking of property without due process of law.
Second statement: Any tax law contravening any of the inherent limitations of taxation, in effect, will likewise be unconstitutional.
Which of the following is correct?
Consider the following statements:
First statement: A violation of inherent limitations can amount to taking of property without due process of law. Second statement: Any tax law contravening any of the inherent limitations of taxation, in effect, will likewise be unconstitutional.
Which of the following is correct?
Which of the following is not an inherent limitation of taxation?
Which of the following is not an inherent limitation of taxation?
According to the given information, which statement about a tax assessment is correct?
According to the given information, which statement about a tax assessment is correct?
What is the primary purpose of criminal proceedings under the Tax Code?
What is the primary purpose of criminal proceedings under the Tax Code?
Under what condition is a nonresident alien individual considered a 'nonresident alien doing business in the Philippines'?
Under what condition is a nonresident alien individual considered a 'nonresident alien doing business in the Philippines'?
In which situation is the monetary value of a housing privilege considered to be 100% of the benefit value?
In which situation is the monetary value of a housing privilege considered to be 100% of the benefit value?
Which statement about nonresident alien individuals is incorrect?
Which statement about nonresident alien individuals is incorrect?
Which of the following statements about housing privileges for employees is correct?
Which of the following statements about housing privileges for employees is correct?
