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Questions and Answers
What is the inherent risk of the self-assessment method for taxpayers?
What are the procedures called that the law provides for disputing assessments and recovering taxes erroneously paid by taxpayers?
What is the act or process of determining the tax liability of a taxpayer in accordance with tax laws called?
What are the procedures used by the government to enforce the determination of tax liability referred to as?
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What may taxpayers be improperly assessed by the government at times?
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Study Notes
Tax Assessment and Dispute
- The self-assessment method for taxpayers carries an inherent risk of incorrect tax liability calculation.
- Taxpayers have the right to dispute assessments and recover taxes erroneously paid through procedures provided by the law.
- The act or process of determining the tax liability of a taxpayer in accordance with tax laws is called tax assessment.
- The government enforces the determination of tax liability through procedures referred to as tax enforcement.
- Taxpayers may be improperly assessed by the government at times, resulting in incorrect tax liabilities or penalties.
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Description
Test your knowledge of tax remedies with this informative quiz. Explore the legal procedures available to the government for addressing under-compliance or non-compliance with tax laws in the Philippines. Prepared by John Glenn Reoja, CPA.
