7 The legislative body cannot impose tax upon income of certain persons outside Philippine jurisdiction due to this principle. Group of answer choices International comity Territoriality Reciprocity Inherent limitation of taxation
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7 The legislative body cannot impose tax upon income of certain persons outside Philippine jurisdiction due to this principle.
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- The legislative body cannot impose tax upon income of certain persons outside Philippine jurisdiction due to this principle. Group of answer choices a. International comity b. Reciprocity c. Territoriality d. Inherent limitation of taxationThe legislative body cannot impose tax upon income of certain persons outside Philippine jurisdiction due to this principle. Territoriality International comity Reciprocity Inherent limitation of taxationA person who is outside Philippine territory may be subject to tax and a person who is within the Philippine territory may not be subject to tax. True or False? Explain concisely in 3- 5 sentences.
- Philippine law1. As a rule, legislative power is vested to the Congress. Exceptions to this rule are the following except: a. Emergency powers of the President b. Tariff powers of the president c. President power d. Delegation to LGU e. None of the above2. Power to tax is exercised by? a. President b. Legislative c. Judiciary d. BIR 3. Custom duty is different from tax because: a. Custom duty is comprehensive than tax b. Custom duty refers to tax on persons and goods imported and exported c. Tax is based on law, while custom duty is based on agreement d. All of the above e. None of the above1. Which is the most accurate definition of income in the Philippines? Group of answer choices Is the process or means by which through the sovereign, through its law-making body, imposes burdens upon subjects and objects within its jurisdiction for the purpose of raising revenues to carry out its legitimage objects of government. Basta pag kumita tataxan Pertinent items of gross income specified in this Code, less deductions, if any, authorized for such types of income by this Code or other special laws. Is the flow of wealth other than by a mere source of capital. 2. The power to tax is provided for by the Constitution, the National Internal Revenue Code, Special Laws, and administrative revenue issuances. Group of answer choices True False 3. Local Government Units, being limited in power, has the power to tax its constituents. Group of answer choices True False 4. The BIR need to assess a taxpayer for payment of taxes Group of answer choices True…19. The following are not taxable, except:* a. Refund of fringe benefit tax b. Refund of Philippine income tax c. Refund of estate or donor’s tax d. Refund of special assessment
- 10. A domestic corporation is taxed on income earned from: Within the Philippines only Within and without the Philippines Without the Philippines only None of the choices9. Which of the following statement is wrong with respect to deductible expenses incurred by an individual taxpayer? a. A resident citizen of the Philippines who is earning business income abroad, aside from his income in the Philippines, is entitled to claim the 40% optional standard deduction as a deduction from his gross income within and without the Philippines. b. A nonresident citizen of the Philippines who is earning income as an overseas Filipino worker abroad is entitled to claim the expenses incurred therein as a deduction from total gross income. c. A resident citizen of the Philippines who is earning business income abroad is entitled to claim the expenses incurred abroad as a deduction from his gross income. d. A mixed income earner is entitled to claim only the 40% optional standard deduction as a deduction from the business and/or professional income, to the exclusion of the compensation income.Examine the relevant section of the Jamaica Income Tax Act forthe specific provisions that exist in jamaica jurisdiction which deal with,objection and appeals. Compare and contrast the procedures for making an appeal to thedecision from the objection with those of Trinidad and Tobago
- 35. True or False. Passive income tax earned outside the Philippines by a resident Filipino citizen that has been subjected to foreign final tax shall not anymore be taxed in the Philippines.Philippine tax laws are:a. Civil, not political, not penalb. Civil, not political, penalc. Civil, political, not penald. Civil, political, penalWhich of the following statements are correct? i. A tax resident is normally liable to tax on their worldwide, profits, income, and gains, whether received. ii. Non-residents are generally liable to tax on certain income and profits generated from sources within the country. iii. A domiciled taxpayer is normally liable to tax on their worldwide, profits, income, and gains, whether received. iv. Tax is imposed on certain sources of income, such as interest, dividends, royalties, and fees, by way of withholding tax. a. i, ii and iv b. i only c. All of the above d. i, iii and iv