Philippine Tax Laws Quiz
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Questions and Answers

According to the National Internal Revenue Code, what is the declared policy of the State?

  • To increase taxes on taxpayers
  • To promote sustainable economic growth (correct)
  • To provide relief to a smaller number of taxpayers
  • To decrease economic activity

    • What is one of the objectives of the National Internal Revenue Code?

  • To reduce economic activity
  • To improve levels of disposable income (correct)
  • To decrease levels of disposable income
  • To increase taxes on taxpayers

    • What does the National Internal Revenue Code aim to create for businesses?

  • A competitive disadvantage
  • A restrictive environment
  • A robust environment (correct)
  • A stagnant market

    • What does the State ensure while creating a robust environment for business?

    <p>Government provision for the needs of those under its jurisdiction</p> Signup and view all the answers

    What is the National Internal Revenue Code also known as?

    <p>Tax Reform Act of 1997</p> Signup and view all the answers

    Which Act is declared as the policy of the State to promote sustainable economic growth through the rationalization of the Philippine internal revenue tax system?

    <p>Republic Act No. 8424</p> Signup and view all the answers

    What is the main objective of the National Internal Revenue Code?

    <p>To promote sustainable economic growth</p> Signup and view all the answers

    What is one of the aims of the National Internal Revenue Code?

    <p>To provide equitable relief to a greater number of taxpayers</p> Signup and view all the answers

    What is the National Internal Revenue Code also known as?

    <p>Tax Reform Act of 1997</p> Signup and view all the answers

    What does the State aim to create for businesses through the National Internal Revenue Code?

    <p>A robust environment</p> Signup and view all the answers

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