The BIR issue Revenue Memorandum Circular No. 97-2021 inre: Taxation of Any Income Received by Social Media Influencers. Which is FALSE? Group of answer choices a Social Media Influencers’ income are generally subject to income and business taxes b Social Media Influencers are generally required to register with the BIR if they earned income even if their objective is to merely vlog c If Social Media Influencer’s income has been subjected to foreign taxes, the tax paid can be credited against the tax due or deducted (from gross income) at the option of the taxpayer d Income of Social Media Influencers prior to issuance of RMC are not taxable

The BIR issue Revenue Memorandum Circular No. 97-2021 inre: Taxation of Any Income Received by Social Media Influencers. Which is FALSE? Group of answer choices a Social Media Influencers’ income are generally subject to income and business taxes b Social Media Influencers are generally required to register with the BIR if they earned income even if their objective is to merely vlog c If Social Media Influencer’s income has been subjected to foreign taxes, the tax paid can be credited against the tax due or deducted (from gross income) at the option of the taxpayer d Income of Social Media Influencers prior to issuance of RMC are not taxable

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter15: Taxing Business Income

Section: Chapter Questions

Problem 4RP

See similar textbooks

Similar questions

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.
1) What should companies consider regarding sales tax for online transactions versus in-person transaction. 2) Based on the risk levels you calculated for the zip codes that Dillard’s sells to, what would your recommendation be to Dillard’s regarding purchasing tax software versus using freely available rate tables? 3) Recognizing that the Wayfair decision continues to impact state tax laws regarding online sales, what factors would you take into account for a company that is beginning to embrace online sales and is deciding whether to invest in tax software versus using freely available rate tables?
23. Which is TRUE? S1: All taxpayers engaged in trade are allowed to use either itemized or optional standard deduction. S2: Exempt corporations are required to report their income. S3: A registered barangay-micro business enterprise who is exempt from paying income tax is also exempt from filing income tax return. S4: A senior citizen who is engaged in trade or business is exempt from taxation. Group of answer choices a. S1 d. S4 b. S2 c. S3
(Note this question is from the Topic 11 Lecture: Tax Avoidance, General Anti-Avoidance Provisions, Income Tax Returns, Assessments, Rulings, etc) Briefly explain what factors significantly affect tax avoidance. (At least two journal papers from google scholar, from 2019 onwards, must be used with Harvard intext citation and referencing style. Please note that you must include the link of your chosen journal papers when referencing them. No direct copy and paste are allowed and you must answer in your own words. You can choose the country or context, meaning the research should not necessarily be done in Australia or for Australia).
What statement is false? a. A tax on consumption will effectively result in virtually all residents of the State paying the tax. b. A tax on consumption would support savings initiative. c. The consumption tax for purchases of goods or services from foreign sources shall be payable by the buyer. d. Business taxes are usually included in the price of goods and services of the seller but are remitted by the seller to the government. e. All of the statements is correct.
Please use own sentences and not googleable. Please help me please don't goggle translate it Malaysia's New Digital Service Tax(DST) have been implementation on 1 Jan 2020 on foreign digital tax providers : how the digital tax will effect the governments discuss and explain it Give explaination for it
21. Which is FALSE in withholding tax system? S1 It is one method by which the government collects money from taxpayers S2 - It is a source of third-party information S3 - The withholding tax collected may be used by the company for working capital provided the money is remitted on time 54 - A withholding agent is the agent of the government A. S1 B. S2 C. S3 D. S4 23. Nicanor sold his residential lot located in Iloilo City. The Deed of Absolute Sale is dated January 31, 2021. When is the respective deadline of the payment of the capital gains tax and documentary stamp tax? A. March 1, 2021, February 5, 2021 B. February 28, 2021, February 5, 2021 C. March 1, 2021 and March 5, 2021 D. February 5, 2021 and March 5, 2021 24. It is a certification issued by the Commissioner or his duly authorized representative attesting that the transfer has been reported and the taxes have been fully paid. A. Electronic Certificate of Authority to Register B. Electronic Certificate of Authority for…
The Federal Trade Commission (FTC) brings a deceptive trade practice action against Beneficial Finance Company based on Beneficial’s use of its “instant tax refund” slogan. The FTC argues that Beneficial’s advertising a tax refund loan or instant tax refund is deceptive in that the loan is not in any way connected with a tax refund but is merely Beneficial’s everyday loan based on the applicant’s creditworthiness. Is this an unfair or deceptive trade practice? Explain.
2. The Commissioner can impose tax on the digital service providers like Netflix, Spotify and others. True or false?
Review the new revenue recognition guidance issued by the Financial Accounting Standards Board http://www.fasb.org/jsp/FASB/Page/ImageBridgePagecid=1176169257359 and answer the following questions. What is the new standard as of ASC 606? What does that mean to you? What are the recommended steps companies should follow to achieve the core principle? How does this change current GAAP standards? Who is required to adhere to this new standard?