It is a tax on a person's income, payments, profits arising from property, the practice of the profession, conduct of a trade or business or on the relevant items of gross income included in the Tax Code of 1997 (Tax Code), as amended, less the deductions if any, authorized for such types of income, by the Tax Code, as amended, or other special laws.
It is a tax on a person's income, payments, profits arising from property, the practice of the profession, conduct of a trade or business or on the relevant items of gross income included in the Tax Code of 1997 (Tax Code), as amended, less the deductions if any, authorized for such types of income, by the Tax Code, as amended, or other special laws.
Chapter16: Tax Research
Section: Chapter Questions
Problem 41P
Related questions
Question
It is a tax on a person's income, payments, profits arising from property, the practice of the profession, conduct of a trade or business or on the relevant items of gross income included in the Tax Code of 1997 (Tax Code), as amended, less the deductions if any, authorized for such types of income, by the Tax Code, as amended, or other special laws.
a. Excise Tax
b. Personal Income Tax
c. Consumption Tax
d. Property Tax
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Recommended textbooks for you
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT