Philippine Local Government Taxation Quiz

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

Section 56

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

Tax on Delivery Trucks or Vans

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

Section 65

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

Tax on Printing and Publication Signup and view all the answers

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

Section 67 Signup and view all the answers

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

Amusement Tax Signup and view all the answers

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

To provide relevant provisions and procedures in the collection of revenues and receipts Signup and view all the answers

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

The principal purpose for which the property is used by the person in possession of it Signup and view all the answers

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

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 Signup and view all the answers

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

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 Signup and view all the answers

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

All of the above Signup and view all the answers

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

To provide a better understanding of the flow of processes involved in local government taxation 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?

Taxation shall be uniform in each LGU. Signup and view all the answers

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

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. Signup and view all the answers

What is required for local revenue to be generated?

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

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

All monies officially received by a local government officer shall be accounted for as local funds, unless otherwise provided by law. Signup and view all the answers

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

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. Signup and view all the answers

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

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