10 Questions
What percentage of their quarterly gross sales do domestic carriers and keepers of garages need to pay as tax?
3%
What type of carriers are exempt from local taxes imposed under Republic Act No. 7160?
Common carriers
What is the tax rate for international air carriers on their gross sales derived from transport of cargo from the Philippines to another country?
3%
What is the frequency at which domestic carriers and keepers of garages need to pay tax?
Quarterly
What is the type of tax that domestic carriers and keepers of garages need to pay?
Percentage tax
What is the basis for the tax payment of international shipping carriers?
Gross sales derived from transport of cargo
What is the name of the code that is being amended in Section 118?
National Internal Revenue Code of 1997
What is the type of vehicles exempt from tax payment?
Animal-drawn two-wheeled vehicles
What is the purpose of the tax payment by domestic carriers and keepers of garages?
To generate revenue for the government
What is the amended section that discusses percentage tax on international carriers?
Section 118
This quiz covers the Commissioner's authority to compromise, abate, refund, or credit taxes, including erroneous or illegal receipts, and the refund value of internal revenue stamps. It also explores the redemption and refund of unused stamps rendered unfit for use. Test your knowledge of tax refund and credit authority!
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