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Questions and Answers
All of the following are administrative functions of taxation except:
All of the following are administrative functions of taxation except:
Who among the following is a non-resident alien?
Who among the following is a non-resident alien?
Who among the following individual taxpayers is taxable on income within and without?
Who among the following individual taxpayers is taxable on income within and without?
Which statement is wrong?
Which statement is wrong?
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Statement 1: Police power and the power of taxation are exercised primarily by the legislature but not eminent domain. Statement 2: Taxation and eminent domain interfere with private right and property but not with police power.
Statement 1: Police power and the power of taxation are exercised primarily by the legislature but not eminent domain. Statement 2: Taxation and eminent domain interfere with private right and property but not with police power.
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Where does taxing power of the provinces, municipalities and cities precede from?
Where does taxing power of the provinces, municipalities and cities precede from?
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Which of the following statements is true?
Which of the following statements is true?
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All of the following are taxable on income within only, except:
All of the following are taxable on income within only, except:
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Optional standard deduction is allowed on:
Optional standard deduction is allowed on:
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When the power to tax is delegated to the local government
When the power to tax is delegated to the local government
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The power to demand proportionate contribution from persons and property to defray the necessary expenses of the government is
The power to demand proportionate contribution from persons and property to defray the necessary expenses of the government is
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Which of the following may not raise money for the government?
Which of the following may not raise money for the government?
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All of the following are legislative aspect of taxation except:
All of the following are legislative aspect of taxation except:
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One of the following is not a characteristic or an element of tax
One of the following is not a characteristic or an element of tax
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The basic principle of a sound taxation system, where, "Taxes must be based on the taxpayer's ability to pay" is called:
The basic principle of a sound taxation system, where, "Taxes must be based on the taxpayer's ability to pay" is called:
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No person shall be imprisoned for non-payment of this
No person shall be imprisoned for non-payment of this
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Statement 1: If an employee had multiple employers within the year, an income tax return must be filed at the end of the year. Statement 2: If an employee had three employers on succession, for each of the past three years, substituted filing of tax return is not allowed.
Statement 1: If an employee had multiple employers within the year, an income tax return must be filed at the end of the year. Statement 2: If an employee had three employers on succession, for each of the past three years, substituted filing of tax return is not allowed.
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Due to his expertise, Engr. Popoy Gonzales (a freelancer) was hired by a foreign petroleum contractor in Thailand to provide technical assistance for two months from February to March. He was hired again for the months of June to July and October to December of the same taxable year. Engr. Popoy is a:
Due to his expertise, Engr. Popoy Gonzales (a freelancer) was hired by a foreign petroleum contractor in Thailand to provide technical assistance for two months from February to March. He was hired again for the months of June to July and October to December of the same taxable year. Engr. Popoy is a:
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Which of the following transactions is subject to 6% capital gains tax:
Which of the following transactions is subject to 6% capital gains tax:
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The 25% corporate income tax under CREATE Act is increase to 35% by the Congress for the purpose of raising revenue to be used for national road expansion project near Bonifacio Global City, a private corporation. Is the exercised of the taxing power unconstitutional?
The 25% corporate income tax under CREATE Act is increase to 35% by the Congress for the purpose of raising revenue to be used for national road expansion project near Bonifacio Global City, a private corporation. Is the exercised of the taxing power unconstitutional?
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Study Notes
Tax Information
- Income tax integration, SY 2024-2025, FEU Alabang
- Various administrative functions of taxation are addressed, excluding the selection of the tax object.
- Non-resident aliens are defined as those who come to the Philippines for a short-term reason, excluding those with indefinite intentions or who have acquired residence.
- Taxable income within and without the Philippines applies to individuals like overseas contract workers.
- The power of taxation is limited by inherent and constitutional restrictions.
- Police power and the power of taxation are primarily exercised by the legislature, while eminent domain isn't.
Taxable Income and Exemptions
- Resident citizens and aliens are taxable on income earned within and outside the Philippines.
- Non-resident citizens are taxable only on income earned within the Philippines.
- Non-resident aliens are generally not subject to income tax on income earned within the Philippines.
- Certain expenses (like those unrelated to specifically identified individuals), may be deductible from total income.
- Minimum-wage earners (MWEs) aren't taxed on compensation income.
Tax Calculation Examples
- Specific examples detailing income tax computations for different scenarios are included.
- Examples include those of a special Filipino employee, a non-resident alien, with varying incomes (e.g., compensation, rent, and self-employment).
- Calculation examples are presented for resident and non-resident citizens and aliens.
- Examples of tax withholding on passive income.
- Examples of final tax calculation.
Tax Principles and Characteristics
- The ability-to-pay theory is one of the core principles supporting a sound taxation system.
- Key characteristics of taxation include enforcement, payment method, and levying by the legislature.
- Tax laws have both inherent and constitutional limitations.
De Minimis Benefits and Related Tax Implications
- De Minimis benefits are presented, and the tax implications in cases of exceeding the applicable limit are illustrated.
- Examples include rice allowances, Christmas gifts, and other benefits.
- Specific de minimis benefits and criteria for qualification are detailed, including those under BIR rulings.
Taxable Income for Specific Groups
- Taxable income for Resident citizens, non-resident citizens, and non-resident aliens, are outlined.
- Cases considering a business, professional income, compensation, and rental income within the Philippines.
Capital Gains Tax
- Capital gains tax is explained and instances of application are demonstrated, based on cases involving stock and real estate transactions.
- Capital gains taxes are calculated based on the difference between the sale price and the original cost of the asset in most cases.
Additional Tax Information
- Income tax implications for cases of multiple employers; and calculation examples.
- Fringe benefits, and taxes, implications including allowances and payments as outlined by the government.
- The concept of taxable income for trusts administered abroad, and examples of calculations.
- Detailed examples of how different types of income are taxed, along with detailed examples of determining specific tax liabilities.
- Information on specific tax exemptions for minimum wage earners (MWEs)
- Calculations for quarterly income tax payments
- Applicable tax rate ranges for different income levels.
- Tax calculations for situations when a taxpayer is opting to be taxed at 8% on gross sales.
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Description
This quiz covers essential aspects of taxation in the Philippines for the school year 2024-2025, focusing on income tax integration and the classification of residents and non-residents. It addresses key administrative functions, taxable income criteria, and restrictions of the power of taxation.
