BLT4A Fundamentals of Taxation Exam 2024/2025 Latest Test Questions With Verified Solutions

BLT4A Fundamentals of Taxation Exam 2024/2025 Latest Test Questions With Verified Solutions Power of taxation is legislative in nature. Therefore, the power to tax may not be delegated, except a. To local government units or political subdivisions. b. None of the above. c. When allowed by the Constitution. d. When delegation relates merely to administrative implementation that may call for some degree of discretionary powers under a set of sufficient standards expressed by law or implied from policy and purpose of the Act. e. All of the above. - ANSWER>>>e. All of the above. statement I. For the exercise of the power of taxation, the state can tax anything at any time. statement II. The provisions of taxation in the Philippine Constitution are grants of power enabling the state to impose taxes. a. Only statement II is correct. b. Only statement I is correct. c. Both statements are correct. d. Both statements are incorrect. - ANSWER>>>b. Only statement I is correct. Star College is a non-stock, non-profit educational institution run by the Archdiocese of Dumaguete. It is occupying the following buildings: Building 1 - used as dormitory of its students but open to non students who want to stay therein Building 2 - owned by Mr. Senyor Pedro being leased to Star College and serving as administration building which houses the offices for the school president, registrar, principal, dean and other school officials Building 3 - used by the students for classroom purposes Which of the above buildings is exempt from real estate tax? a. Building 2 and 3 b. Building 1 and 3 c. Building 1 only d. All of the buildings e. Building 3 only - ANSWER>>>a. Building 2 and 3 A canon of taxation which means that tax laws must be clear and concise, capable of proper enforcement, and not burdensome, convenient as to time and manner of payment. a. Fiscal feasibility b. Administrative justice c. Theoretical justice d. Fiscal adequacy e. Administrative feasibility - ANSWER>>>e. Administrative feasibility The actual effort exerted by the government to effect the exaction of what is due from the taxpayer is known as a. Levy b. Imposition c. Assessment d. Payment e. Collection - ANSWER>>>e. Collection Which of the following is a characteristic of special assessment? a. Based wholly on benefits (not necessary) b. Exceptional both as to time and place c. Not personal liability of the person assessed d. Levied only on land e. All of the above - ANSWER>>>e. All of the above statement I. The distinction of a tax from permit or license fee is that tax is imposed for regulation. statement II. Non-payment of tax does not necessarily render business illegal. a. Both statements are incorrect. b. Both statements are correct. c. Only statement II is correct. d. Only statement I is correct. - ANSWER>>>c. Only statement II is correct. Congress can impose a tax at any amount and at any time shows that a. Taxation can only be imposed by Congress b. Taxation is essentially a legislative power c. Taxation is a very broad power of the state d. Taxation is an inherent power of the state e. Taxation is based on taxpayers' ability to pay - ANSWER>>>c. Taxation is a very broad power of the state (T/F) One of the means of avoiding or minimizing the burden of taxation is through "shifting". Shifting is the transfer of the payment of tax by the original payer or the one on whom the tax was assessed or imposed to someone else. - ANSWER>>>FALSE The title of the Tax Code of the Philippines. - ANSWER>>>National Internal Revenue Code of 1997 It is the place of taxation a. Situs of taxation b. Subject of taxation c. Object of taxation d. Amnesty of taxation e. Purpose of taxation - ANSWER>>>a. Situs of taxation