Sovereign Powers and Tax Exemptions

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18 Questions

What is the primary aspect of sovereignty related to taxation?

Power to impose and exempt from taxation

Which type of exemption is granted through agreements between the government and another party?

Contractual Exemption

What is the primary difference between tax avoidance and tax evasion?

Legal vs. illegal means of minimizing tax liabilities

What is implied by the concept of implied exemptions?

Exemptions inherent to certain persons or properties

What is the primary purpose of tax exemptions in fiscal policies?

To provide selective tax relief for diverse economic and social needs

What is the characteristic of express exemptions?

They are explicitly defined by legal authorities

What is the fundamental aspect of the power to tax?

The state's discretion to select subjects or entities to tax

What is the scope of taxation in terms of the entities involved?

Persons, property, or occupation to be taxed within the taxing jurisdiction

What is the inherent power of the state related to taxation?

The authority to demand enforced contributions for public purposes

What is the principle of taxation that ensures fairness in taxation?

Proportional contribution from persons and property

Who typically has the power to levy taxes?

The legislative body

What is a historical context where the power to tax was re-evaluated in the Philippines?

During the re-assessment of RP-US relations

What is the fundamental principle underlying tax obligations?

Personal responsibility

What is the primary justification for taxation according to the Necessity Theory?

Government's necessity to operate

What is required for laws granting tax exemptions to be approved?

Majority approval from Congress members

What is the consequence of not meeting tax obligations?

Criminal liability and prosecution

According to the Benefits-Protection/Reciprocity Theory, what is the basis for paying taxes?

Involuntary and compulsory obligation

What is the underlying concept that taxation is an indispensable part of a civilized society?

Life blood theory

Understand the principles of sovereignty and its relation to taxation, including inherent authority, express exemptions, and more. Test your knowledge on the different types of tax exemptions and their implications on fiscal policies and economic needs.

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