Podcast
Questions and Answers
What kind of taxes are paid by oil companies to BIR upon removal of petroleum products from its refinery?
What kind of taxes are paid by oil companies to BIR upon removal of petroleum products from its refinery?
- Excise tax (correct)
- Value-added tax
- Percentage tax
- Income tax
Which type of exemption originates from the constitution?
Which type of exemption originates from the constitution?
- Constitutional (correct)
- Statutory
- Implied
- Express
In what form are exemptions expressly granted by statute known as?
In what form are exemptions expressly granted by statute known as?
- Total
- Constitutional
- Statutory (correct)
- Partial
What principle governs tax exemptions stating that they are highly disfavored?
What principle governs tax exemptions stating that they are highly disfavored?
What is required for someone claiming a tax exemption to justify their claim?
What is required for someone claiming a tax exemption to justify their claim?
Flashcards
Excise tax (oil companies)
Excise tax (oil companies)
Tax on petroleum products removed from a refinery.
Constitutional exemption
Constitutional exemption
Tax exemption derived directly from the country's fundamental law.
Statutory exemption
Statutory exemption
Tax exemptions specifically provided for in tax laws.
Strict construction rule
Strict construction rule
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Clearest grant of law
Clearest grant of law
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