A) Can the government tax its own agencies or instrumentalities? Explain. PHILIPPINE GOVERNMENT
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- A) Can the government tax its own agencies or instrumentalities? Explain. PHILIPPINE GOVERNMENTWhich of the following statements are correct? i. A tax is a statutory obligation that is imposed by an act of parliament in a country. ii. A tax is any deduction taken from a person’s salary by the government. iii. Taxation is the major source of government income. iv. Direct and indirect taxes are the two broad categories of taxation.1. Which is the most accurate definition of income in the Philippines? Group of answer choices Is the process or means by which through the sovereign, through its law-making body, imposes burdens upon subjects and objects within its jurisdiction for the purpose of raising revenues to carry out its legitimage objects of government. Basta pag kumita tataxan Pertinent items of gross income specified in this Code, less deductions, if any, authorized for such types of income by this Code or other special laws. Is the flow of wealth other than by a mere source of capital. 2. The power to tax is provided for by the Constitution, the National Internal Revenue Code, Special Laws, and administrative revenue issuances. Group of answer choices True False 3. Local Government Units, being limited in power, has the power to tax its constituents. Group of answer choices True False 4. The BIR need to assess a taxpayer for payment of taxes Group of answer choices True…
- Which of the following is not an exclusion from gross income? A. Income of government propertiesB. Income taxes collected by the BIRC. SSS benefitsD. Dividend income payable to a foreign governmentMC: Topic: Income Taxation The following defines taxation, except: * It is an inherent power of the state. It is an executive prerogative. It is a process of collecting contributions. It is mode of allocating government costs or burden to the people.Discuss problems regarding tax evasion in a country? What should be the solution that can be done by the government?
- Give a critical analysis and give a clear recommendation of how government should tax its nationals, both natural and legal entities.It is the obligation of compulsory taxes on individuals or corporations by governments. Taxes are imposed by most countries in the world, primarily to raise revenue for government expenditures, although they serve other purposes. a. Taxation b. Government Revenues c. Government AssessmentWhat is a State in taxation?
- In terms of tax policy, what do the following mean? a. Revenue neutrality. b. Sunset provision. c. Indexation.Which of the following is not an underlying objective of the income tax laws? A. Income tax laws enable the government to regulate the health of the economy. B. Income tax laws are designed to converge with U.S. GAAP rules. C. Income tax laws enable the government to assist certain members of society who are viewed as deserving help. D. Income tax laws are designed to raise money for the operation of the federal government.How are national taxes similar to and/or different from local taxes?
