Shays' Rebellion demonstrated the immense power of the federal government under the Articles of Confederation indicated to many that the nation might be headed for anarchy was in response to new British taxes imposed in 1784 occurred when Virginia farmers felt they had been unfairly taxed
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Question 2
Shays' Rebellion
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demonstrated the immense power of the federal government under the Articles of Confederation |
||
|
indicated to many that the nation might be headed for anarchy |
||
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was in response to new British taxes imposed in 1784 |
||
|
occurred when Virginia farmers felt they had been unfairly taxed |
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- 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 theory of taxation states that without taxes, a government would be paralyzed for lack of power to activate and operate it, resulting in its destruction? a. Lifeblood theory b. Reciprocity Theory c. Symbiotic theory 2.) Which type of tax is already repealed by the CREATE Act? a. Regular Corporate Income Tax b. Minimum Corporate Income Tax c. Improperly Accumulated Earnings Tax d. Percentage Tax4 Which of the following statements is/are correct?I. Tax evasion in one year can be offset by paying excessive taxes in the following year.II. Taxation can be exercised by local government units even without a previous constitutional authorityIII. Tax laws should always be aimed at revenue collection.IV. A tax is a voluntary donation to the government.V. The salary of the President of the Philippines is not subject to income tax. Group of answer choices Answer not given I, IV and V All statements are correct IV and V II, III and V III, IV and V All statements are incorrect
- What is the Dormant Commerce Clause ? a. An affirmative constitutional grant to states to regulate interstate commerce, even if federal law preempts their laws b. A prohibition on states regulating commerce when it would be detrimental to the national economy c. A federal law that gives states new powers to regulate interstate commerce d. A constitutional provision that requires states to get each other's permission on certain regulations25. S1: In order for passive income to be subject to final tax under section 24 (B) of the NIRC, the income must be derived from sources within or without the Philippines. S2: An income that is exempted from income tax under the law, is not subject to withholding tax. S3: Dividend income earned by a resident citizen is always subject to 10% final tax. Which is True? Group of answer choices a. Only S1 is True b. Only S2 is True c. Only S3 is True c. Only S3 is TrueMf2. Prior to the 2017 tax act, many U.S. multinational corporations kept profits abroad in the form of cash rather than returning them to the U.S. A major motive for this was the fact that under the U.S. tax code: A.foreign branch earnings were taxed only when funds were transferred to the parent. B.foreign subsidiary earnings were taxed only when funds were transferred to the parent. C.branch and subsidiary earnings were taxed only when transferred to the parent. D none of the above.
- 13 XYZ Corporation is a U.S.-based corporation. It has decided to move some of its accounting operations abroad. The company will continue to use U.S. GAAP for external reporting purposes. Should the company insist that the employees located in the international locations follow the U.S.-based corporate culture? Explain?4. a) Explain why Customs (Amendment) Act 2018 and Free Zones (Amendment)Act 2018 was introduced by Parliament. b) Provide the requirements of issuing invoices under the Sales Tax Act 2018. This is not a Bussines Law Question. This is a Tax based question. Please answer the question if can, if u can't, don't reject the question let others to answer. Thank you.D3) Finance 11. Deferred income taxes arise because a. corporations often make errors in their tax estimations. b. companies can use accounting methods that minimize net income for tax purposes and other methods that maximize net income for reporting to shareholders. c. the IRS owes a company a refund from last year. d. large corporations generally have operations in foreign countries whose tax law is quite different from U.S. tax law.
- When a government lowers taxes it is employing ________. A) fiscal policy B) monetary policy C) domestic policy D) the law of one price35. 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.QUESTION 27Section 50A to 50H on the Income Tax Act provides for the withholding tax on interest. Which of the following is not exempt from withholding taxes on interest?(1) Interest on listed debt or paid to a client as defined in The Financial Markets Act.(2) Interest paid by national, provincial or local government.(3) Interest paid by a headquarter company providing financial assistance in terms of Section 31 provisions.(4) Interest paid by a bank.(5) Interest from a source in the Republic paid to a non-resident.