Government Powers and Warrants Quiz

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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?

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?

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?

Thirty (30) days Signup and view all the answers

Which of the following statements about the 1st and 2nd statements is correct?

The 1st statement is correct, the 2nd statement is wrong. Signup and view all the answers

Which of the following is true about a warrant of distraint?

It is on personal property owned by and in possession of the taxpayer. Signup and view all the answers

When are senior citizens and PWDs required to submit their applications for the discounts on their water and electricity bills?

Within the first five days of each subsequent quarter Signup and view all the answers

When purchasing goods and services that have a promotional discount, which discount can senior citizens and PWDs avail?

The promotional discount or the senior citizen/PWD discount, whichever is higher Signup and view all the answers

What are the conditions for senior citizens to receive a 5% discount on their monthly water and electricity bills?

I, II and III are correct Signup and view all the answers

Which of the following taxes are senior citizens and PWDs not exempted from?

Capital gains tax Signup and view all the answers

What is the maximum monthly water consumption for senior citizens to receive the 5% discount?

30 m3 Signup and view all the answers

What is the maximum monthly electricity consumption for senior citizens to receive the 5% discount?

100 kWh Signup and view all the answers

According to the second statement, what power does the President have regarding a bill that penalizes crimes?

The President can veto specific items or provisions in the bill. Signup and view all the answers

Which of the following statements is correct regarding the two statements provided?

Both statements are correct. Signup and view all the answers

A warrant of levy is issued on which type of property?

Property owned by the taxpayer but in the possession of a third party. Signup and view all the answers

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?

They shall be restored to the owner. Signup and view all the answers

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?

Formal Assessment Notice Signup and view all the answers

Which of the following is NOT mentioned in the provided text?

The specific requirements for issuing a warrant of levy. Signup and view all the answers

What is the general principle regarding the relationship between tax treaty provisions and domestic law?

The provisions of the tax treaty generally prevail over provisions of the domestic law. Signup and view all the answers

Which power of the State is based on the presumption that the person parting with money or property receives a benefit?

Taxation Signup and view all the answers

Which basic principle of a sound tax system is met when Congress evolves a progressive system of taxation as mandated in the Constitution?

Theoretical justice Signup and view all the answers

Which of the following is not a basic principle of a sound taxation system?

It must be a progressive tax. Signup and view all the answers

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?

Both statements are correct Signup and view all the answers

Which of the following is not an inherent limitation of taxation?

The tax must be progressive and based on income level. Signup and view all the answers

According to the given information, which statement about a tax assessment is correct?

It is a prerequisite for criminal prosecution for willful attempt to evade taxes. Signup and view all the answers

What is the primary purpose of criminal proceedings under the Tax Code?

To collect unpaid internal revenue taxes, fees, and charges. Signup and view all the answers

Under what condition is a nonresident alien individual considered a 'nonresident alien doing business in the Philippines'?

When they stay in the Philippines for more than 180 days in a calendar year, regardless of business engagement. Signup and view all the answers

In which situation is the monetary value of a housing privilege considered to be 100% of the benefit value?

When the employer owns a residential property and assigns it to the employee as their usual place of residence. Signup and view all the answers

Which statement about nonresident alien individuals is incorrect?

Their intention to return to their home country is irrelevant in determining their status. Signup and view all the answers

Which of the following statements about housing privileges for employees is correct?

If the employer owns a property and assigns it to the employee, the monetary value is 50% of the benefit value. Signup and view all the answers