Philippine Local Government Taxation Quiz

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Questions and Answers

Which section discusses the tax on the transfer of real property ownership?

  • Section 69
  • Section 56 (correct)
  • Section 49
  • Section 63

What is the name of the tax that is levied on the delivery of trucks or vans?

  • Tax on Delivery Trucks or Vans (correct)
  • Franchise Tax
  • Tax on Sand, Gravel, and Other Quarry Resources
  • Amusement Tax

Which section discusses the share from the Expanded Value Added Tax (VAT)?

  • Section 51
  • Section 61
  • Section 65 (correct)
  • Section 57

What is the name of the tax that is levied on the printing and publication industry?

<p>Tax on Printing and Publication (A)</p> Signup and view all the answers

Which section discusses the share from the proceeds of the Tobacco Excise Tax?

<p>Section 67 (C)</p> Signup and view all the answers

What is the name of the tax that is levied on the operation of amusement businesses?

<p>Amusement Tax (B)</p> Signup and view all the answers

What is the main purpose of this Book according to the text?

<p>To provide relevant provisions and procedures in the collection of revenues and receipts (A)</p> Signup and view all the answers

What does the term 'Actual Use' refer to according to the text?

<p>The principal purpose for which the property is used by the person in possession of it (A)</p> Signup and view all the answers

What does the term 'Agricultural Land' refer to according to the text?

<p>Land devoted principally to the planting of trees, raising of crops, livestock and poultry, dairying, salt making, inland fishing and similar aquacultural activities, and other agricultural activities, commercial or industrial land (A)</p> Signup and view all the answers

What does the term 'Agricultural Product' refer to according to the text?

<p>The yield of the soil, such as corn, rice, wheat, rye, hay, coconuts, sugarcane, tobacco, root crops, vegetables, fruits, flowers and their by-products; ordinary salt; all kinds of fish; poultry; and livestock and animal products, whether in their original form or not (A)</p> Signup and view all the answers

Which of the following is a source of income for local government units according to the text?

<p>All of the above (D)</p> Signup and view all the answers

What is the main purpose of the illustrations and samples provided in the Book?

<p>To provide a better understanding of the flow of processes involved in local government taxation (B)</p> Signup and view all the answers

Which of the following is a fundamental principle that governs the exercise of the taxing and other revenue-raising powers of LGUs?

<p>Taxation shall be uniform in each LGU. (A)</p> Signup and view all the answers

What is the key principle regarding the revenue collected by LGUs?

<p>The revenue collected shall inure solely to the benefit of, and be subject to disposition by the LGU levying the tax, fee, charge or other impositions. (D)</p> Signup and view all the answers

What is required for local revenue to be generated?

<p>Local revenue is generated only from sources expressly authorized by law or ordinance, and collection thereof shall at all times be acknowledged properly. (A)</p> Signup and view all the answers

What is the key principle regarding the handling of monies received by a local government officer?

<p>All monies officially received by a local government officer shall be accounted for as local funds, unless otherwise provided by law. (A)</p> Signup and view all the answers

Which of the following best describes the power of LGUs to create sources of revenue?

<p>LGUs have the power to create their own sources of revenue, subject to the provisions of the Local Government Code, and the revenue collected shall inure solely to the benefit of the LGU. (B)</p> Signup and view all the answers

What is the key principle regarding the use of revenue collected by LGUs?

<p>The revenue collected by LGUs shall be used exclusively for the benefit of the local government that levied the tax, fee, or charge. (A)</p> Signup and view all the answers

Flashcards

Real Property Transfer Tax

Tax on the transfer of real property ownership.

Motor Vehicle Registration Fee

Tax levied on the delivery of trucks or vans; a vehicle registration fee.

Printing and Publication Tax

Tax levied on the printing and publication industry.

Amusement Tax

Tax levied on the operation of amusement businesses

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Actual Use

The purpose for which a property is currently being utilized.

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Agricultural Land

Land used for agricultural activities such as farming, livestock, and forestry.

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Agricultural Product

Goods produced through agricultural activities.

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LGU Revenue Sources

LGUs generate income from taxes and fees.

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Power Coupled with Accountability

Fundamental principle governing taxing powers of LGUs.

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Revenue Use

Revenue collected by LGUs must be spent helping the community.

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Local Revenue Generation

Requires a legitimate taxing power.

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Handling of Monies

Monies received by a local government officer must be accounted for and used for public purposes.

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LGU Revenue Creation

LGUs can create their own revenue sources, subject to limitations.

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Revenue for Welfare

Revenue collected by LGUs must be used to promote the general welfare of the constituency.

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Study Notes

Taxation and Revenue for Local Government Units

  • The tax on the transfer of real property ownership is discussed in a specific section of the book.
  • The tax levied on the delivery of trucks or vans is referred to as the Motor Vehicle Registration Fee.
  • A share from the Expanded Value Added Tax (VAT) is discussed in a separate section.
  • The tax levied on the printing and publication industry is referred to as the Printing and Publication Tax.
  • A share from the proceeds of the Tobacco Excise Tax is discussed in a separate section.
  • The tax levied on the operation of amusement businesses is referred to as the Amusement Tax.

Purpose and Definitions

  • The main purpose of this Book is to discuss taxation and revenue for local government units.
  • 'Actual Use' refers to the purpose for which a property is currently being utilized.
  • 'Agricultural Land' refers to land used for agricultural activities such as farming, livestock, and forestry.
  • 'Agricultural Product' refers to goods produced through agricultural activities.

Revenue and Principles

  • Local government units generate income from various sources, including taxes and fees.
  • The main purpose of the illustrations and samples provided in the Book is to aid understanding and application of taxation and revenue concepts.
  • A fundamental principle governing the exercise of taxing and revenue-raising powers of LGUs is the principle of power coupled with accountability.
  • The key principle regarding revenue collected by LGUs is that it should be utilized for public purposes only.
  • For local revenue to be generated, there must be a valid exercise of taxing power by the LGU.
  • The key principle regarding the handling of monies received by a local government officer is that they must be accounted for and utilized for public purposes only.
  • LGUs have the power to create their own sources of revenue, subject to certain limitations and guidelines.
  • The key principle regarding the use of revenue collected by LGUs is that it should be used to promote the general welfare of the constituency.

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