1. A VAT taxpayer cannot claim input VAT credit on.
Ans. Exempt sales
2. Which decedent cannot claim deduction for foreign
tax credit?
Ans. Non-resident alien
14. Which of the following is subject to output tax?
Ans. Sale of non-food Agri-cultural or marine
products
15. The letter of authority will not be approved by
Ans. Revenue District officer
3. Which of these donations or inheritance is a common
property?
Ans. A donation designated by the donor for the
husband and the wife.
16. Properties of the taxpayer shall be seized in sufficient
quantity to cover the following costs, except one.
Choose the exception.
Ans. Service fee of the BIR
4. A private hospital admitted a senior citizen. Total
amount to be paid by the patient as reflected in the
billing upon discharge is P224,000. How much is
output VAT?
Ans. P0
17. The 3-year prescriptive period will be extended by any
of the following instances, except one Choose the
exception.
Ans. Fortuitous events
5. Transfer tax is imposed to partially recover future
reduction in income tax which will arise from the split
of income producing property to few or several
taxpayers.
Ans. Tax recoupment theory
6. Which of the following is not subject to business tax
even if made by a registered business?
Ans. Sale of properties considered as capital assets
7. Which of the following not be involved during the
assessment stage?
Ans. Preliminary collection letter
8. Which is exempt from business tax?
Ans. Sale of boiled peanuts
9. A taxpayer who concede to a BIR assessment must
Ans.
10. Donor’s tax is not intended to
Ans. Provide a system of business regulation
11. The transitional input VAT is whichever is the
Ans. Higher of 2% of beginning vatable inventory pr the
actual input VAT thereon.
12. Excise tax imposed based on weight or volume
capacity or any other physical unit of measurement
Ans. Specific tax
13. A check is subject to a documentary stamp tax
Ans. P3
18. Which documentary stamp tax is a specific tax?
Ans. Stamp tax on loan agreement
19. Which is deductible by a non-resident alien decedent?
Ans. Transfer for public use
20. A VAT taxpayer received P104,000 plus P8,000….
Ans. P12,000