Podcast
Questions and Answers
What does the fact that a corporation is a mere holding company or an investment company indicate?
What does the fact that a corporation is a mere holding company or an investment company indicate?
- The corporation is planning to expand its business operations.
- The corporation is focused on corporate social responsibility.
- The corporation is aiming to increase its profits.
- The corporation is likely avoiding tax on its shareholders or members. (correct)
How is the value-added tax imposed?
How is the value-added tax imposed?
- Only on the buyer of goods and services.
- Only on the government for regulating sales.
- Only on the seller of goods and services. (correct)
- Only on foreign entities buying local goods.
What determines the purpose to avoid tax upon shareholders or members of a corporation according to the general rule mentioned?
What determines the purpose to avoid tax upon shareholders or members of a corporation according to the general rule mentioned?
- The number of shareholders in the corporation.
- The location of the corporation's headquarters.
- The reasonableness of profits accumulated by the corporation. (correct)
- The company's annual revenue.
Under what circumstances is a donor's tax imposed?
Under what circumstances is a donor's tax imposed?
What is the general tax rate for value-added tax as per the information provided?
What is the general tax rate for value-added tax as per the information provided?
What does 'act of liberality (animus donandi)' mentioned in relation to donor's tax refer to?
What does 'act of liberality (animus donandi)' mentioned in relation to donor's tax refer to?
What is the time period within which a taxpayer must file a protest against an assessment?
What is the time period within which a taxpayer must file a protest against an assessment?
What is the deadline for submitting supporting documents for a request for reinvestigation?
What is the deadline for submitting supporting documents for a request for reinvestigation?
If the Bureau of Internal Revenue (BIR) denies the protest, what is the next step for the taxpayer?
If the Bureau of Internal Revenue (BIR) denies the protest, what is the next step for the taxpayer?
What is the time period for appealing a decision of the CTA En Banc to the Supreme Court?
What is the time period for appealing a decision of the CTA En Banc to the Supreme Court?
What authorizes the immediate issuance and service of warrants of distraint and garnishment and/or levy upon the issuance of the final decision?
What authorizes the immediate issuance and service of warrants of distraint and garnishment and/or levy upon the issuance of the final decision?
What is the time period within which the BIR can assess a taxpayer?
What is the time period within which the BIR can assess a taxpayer?
What is the maximum annual tax rate that cities and municipalities within the Metropolitan Manila Area can levy on real property?
What is the maximum annual tax rate that cities and municipalities within the Metropolitan Manila Area can levy on real property?
What is the Special Education Fund (SEF)?
What is the Special Education Fund (SEF)?
What does the SAVANT Framework refer to in the context of tax management?
What does the SAVANT Framework refer to in the context of tax management?
What is internal financing?
What is internal financing?
What are the two forms of external financing mentioned in the text?
What are the two forms of external financing mentioned in the text?
What is an advantage of internal financing compared to external financing?
What is an advantage of internal financing compared to external financing?
What is the maximum amount of additional community tax that a corporation must pay annually, in addition to the basic community tax of Php 500?
What is the maximum amount of additional community tax that a corporation must pay annually, in addition to the basic community tax of Php 500?
Where should a corporation pay its community tax?
Where should a corporation pay its community tax?
What percentage of a corporation's sales recorded in its principal office is taxable by the LGU where the principal office is located?
What percentage of a corporation's sales recorded in its principal office is taxable by the LGU where the principal office is located?
How is the remaining 70% of a corporation's sales recorded in its principal office divided for taxation purposes?
How is the remaining 70% of a corporation's sales recorded in its principal office divided for taxation purposes?
Within how many years must local business taxes, fees, or charges be assessed?
Within how many years must local business taxes, fees, or charges be assessed?
When must corporations pay their annual business tax and other fees imposed by the LGU?
When must corporations pay their annual business tax and other fees imposed by the LGU?
What is the minimum period over which deferred expenses must be ratably distributed?
What is the minimum period over which deferred expenses must be ratably distributed?
According to Republic Act No. 7459, for how many years are Filipino investors exempt from paying taxes on income derived from their inventions?
According to Republic Act No. 7459, for how many years are Filipino investors exempt from paying taxes on income derived from their inventions?
Which of the following is NOT mentioned as an exemption for Filipino investors under Republic Act No. 7459?
Which of the following is NOT mentioned as an exemption for Filipino investors under Republic Act No. 7459?
In a strategic analysis, what is an important consideration regarding a company's tax status?
In a strategic analysis, what is an important consideration regarding a company's tax status?
What should be anticipated in the planning process, according to the text?
What should be anticipated in the planning process, according to the text?
What is mentioned as being important in the planning process, in addition to timing and time-value issues?
What is mentioned as being important in the planning process, in addition to timing and time-value issues?
