Write the letter of your choice on the space provided before each number. Thus, A – if only the 1st statement is CORRECT; B- if only the 2ND statement is CORRECT; C- if both 1st and 2nd statements are CORRECT and D- if both 1st and 2nd statements are INCORRECT. Tax Evasion happens when taxpayers use legal ways to lessen the payment of tax. Tax Evasion is also called Tax minimization.
-- Write the letter of your choice on the space provided before each number. Thus, A – if only the 1st statement is CORRECT; B- if only the 2ND statement is CORRECT; C- if both 1st and 2nd statements are CORRECT and D- if both 1st and 2nd statements are INCORRECT.
- Tax Evasion happens when taxpayers use legal ways to lessen the payment of tax. Tax Evasion is also called Tax minimization.
2. The respective personal exemption for previous tax law is Php 50, 000. For additional exemption each qualified dependent is worth Php 25, 500.
3. Specific tax refers to the excise tax imposed which is based on weight or volume capacity or any other physical unit of measurement. Ad Valorem Tax refers to the excise tax which is based on selling price or other specified value of the goods/articles.
4. Tax Avoidance is also called tax minimization. This is an unlawful means to lessen the payment of taxes.
5. The purpose of
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