Tax Practice Questions Multiple Choice Identify the choice that best completes the statement or answers the question. ____ 1. One of the following is the least principle of a sound tax system a. Economic consistency c. Theoretical justice b. Administrative feasibility d. Fiscal adequacy ____ 2. As regards taxable year, one of the following statements is not correct a. The taxable year may be less than 12 c. The taxable year of a sole proprietorship months business may be a fiscal or calendar year b. The taxable year of a domestic corporation d. The taxable year is the accounting period may be a fiscal or calendar year. ____ 3. Transfer of the tax burden by one on whom the tax is assessed to another a. Tax exemption c. Shifting b. Transformation d. Capitalization ____ 4. This is a demand for ownership a. franchise b. tax c. License fee d. toll 5. Tax as distinguished from a license fee a. Exercise of police power b. Amount imposed is limited c. For revenue purposes d. For regulation purpose ____ ____ 6. Domicile or residence of the owner is not the situs of taxation in a. income tax c. estate tax b. business tax d. community tax ____ 7. Statement 1 Statement 2 VAT is a property tax The estate tax is a direct tax a. Both statements are false b. The first statement is true, but the second statement is false c. The first statement is false, but the second statement is true d. Both statements are true ____ 8. One of the characteristics of internal revenue laws is that they are a. penal in nature c. generally perspective in the application b. criminal in nature d. political in nature ____ 9. Tax of a fixed proportion of the value of the property to which the tax is assessed and requires the intervention of assessors or appraisers to estimate the value of such property before the amount due from each taxpayer can be determined is known as: a. specific c. special or regulatory b. answer not given d. ad valorem ____ 10. The amount required is dictated by the needs of the government in: a. toll c. tax b. license fee d. none of the above ____ 11. In this power of the state, the person parting with his money or property is presumed to receive a benefit all, except one. There can be a classification of the subject matter required to shoulder the burden. Which is the exception? a. police power c. eminent domain b. taxation d. none of the above ____ 12. A tax on business is a. indirect tax b. direct tax c. property tax d. none of the above ____ 13. What is the nature of tax laws? a. penal b. criminal c. political d. not political ____ 14. Tax evasion is the use of illegal means to avoid paying taxes. There is evasion when a. sales are understated to lessen the VAT c. indirect taxes are shifted to the consumers b. property is transferred in contemplation of d. The depreciation method is used in death to lessen the estate tax claiming deductions to lessen the income tax ____ 15. Taxation must be exercised fairly, equally, and uniformly, lest the tax collector kills the hen that lays the golden egg. The power must be used justly and not treacherously. a. taxation is sometimes called the power to c. taxation may be constitutional destroy b. taxation is comprehensive d. taxation proceeds from the theory that government existence is a necessity ____ 16. A rule in taxation is that the property of a Filipino taxpayer in the US cannot be taxed in the Philippines is a recognition of the principle of a. territoriality c. international comity b. international law d. reciprocity ____ 17. An annual tax of P500 was imposed upon all Philippines residents who are above 21 years of age, with a gross annual income of P250,000, whether or not they send their children to public schools to raise funds to improve public school buildings. The tax is a. for a public purpose b. contradicts the inherent limitations c. violation of the equal protection clause of the Constitution d. confiscatory ____ 18. Statement 1 Statement 2 Symbiotic relation is the reason why the government could impose taxes on the incomes of resident citizens derived from sources outside the Philippines Jurisdiction is why citizens must provide support to the state so the latter can continue to give protection. a. Only statement 2 is correct, but not statement 1 b. Only statement 1 is correct, but not statement 2 c. Both statements are false d. Both statements are true ____ 19. Many European countries have adopted the value-added tax as the major source of revenue to avoid the a. the compounding effect of capital taxes d. effect of business taxes b. the compounding effect of withholding e. the compounding effect of sales taxes taxes c. effect of income taxes ____ 20. Goods in a foreign trade zone have not entered the country so far as the following factors are concerned a. other import restrictions d. collection of custom duties b. the allocation of quotas e. all of the above c. import documentation ____ 21. The Commissioner of Internal Revenue cannot a. Credit or refund taxes erroneously or c. Abate or cancel tax liability illegally collected b. Compromise payment of internal revenue d. Compromise criminal aspect of tax taxes violations if already filed in court ____ 22. The following are the powers of the Bureau of Internal Revenue (BIR), except: a. The assessment and collection of all c. The execution of all judgments in all cases national internal revenue taxes decided in its favor by the CTA and the ordinary courts b. The enforcement of all forfeitures, d. The assessment and collection of customs penalties, and fines connected with duties and tariffs national internal revenue taxes ____ 23. The secretary of finance is authorized to suspend the imposition of Minimum Corporate Income tax on any corporation which suffers losses on account of: a. Corporate Rehabilitation c. Insolvency b. Economic Sabotage d. Force Majeure ____ 24. As a general rule, within what period must a taxpayer elevate to the Court of Tax Appeals denial of his application for refund of income tax overpayment? a. Within 30 days from receipt of the denial c. Within 30 days from the receipt of the or within two years from the payment Commissioner’s denial of his application for a refund b. Within two years from payment of the d. Within 30 days from the receipt of the income taxes sought to be refunded denial, which must not exceed two years from payment of income tax ____ 25. Which of the following statements is not correct? a. The CTA, in the interest of the c. government or the taxpayer, may suspend the collection of a tax and require the taxpayer either to deposit the amount claimed or to file a surety bond for not more than the amount due with the court. b. As a rule, no court shall have the authority d. to grant an injunction to restrain the collection of any national internal revenue tax, fee, or charge imposed by the NIRC. The prescription of a tax credit certificate shall be within five years from the date of issue unless revalidated The prescription of a refund check or warrant shall be within five years from the date the said warrant of a check was mailed or delivered ____ 26. Which of the following propositions may now be untenable? a. The Court of Tax Appeals has jurisdiction c. The court should construe a law granting over decisions of the BIR Commissioner tax exemption strictly against the taxpayer in cases involving national internal revenue taxes b. The court should construe a law granting a d. The Supreme Court has jurisdiction to municipal corporation the power to tax review decisions of the Court of Tax most strictly Appeals ____ 27. The power to interpret the provisions of the Tax Code and other tax laws shall be under the exclusive and original jurisdiction of the a. Regional Trial Court c. Secretary of Finance b. Commissioner of Internal Revenue d. Court of Tax Appeals ____ 28. The power to decide disputed assessments, refunds of internal revenue taxes, fees or other charges, penalties imposed to it, or other matters arising under the Tax Code or other laws or provisions thereof administered by the BIR is subject to the exclusive appellate jurisdiction of the a. Commissioner of Internal Revenue c. Regional Trial Court b. Secretary of Finance d. Court of Tax Appeals ____ 29. What effect does the tax liability who does not protest an assessment for deficiency taxes? a. The taxpayer’s liability becomes fixed and c. The taxpayer’s liability remains suspended subject to collection as the assessment for 180 days from the expiration of the becomes final and collectible period to protest b. The taxpayer may appeal his liability to d. The BIR could already enforce the the CTA since the assessment is a final collection of the taxpayer’s liability if it decision of the Commissioner on the could secure authority from the CTA matter ____ 30. I II The Commissioner, the Deputy Commissioners, the Revenue Regional Directors, the Revenue District Officers, and other internal revenue officers shall have the authority to make arrests and seizures for the violation of any penal law, rule, or regulation administered by the Bureau of Internal Revenue under the Tax Code. An internal revenue officer assigned to establishments where articles subject to excise tax are produced or kept shall in no case stay in his assignment for more than four (4) years a. False; True b. True; True c. True; False d. False; False ____ 31. Is notice of donation required to be given to the Revenue District Office? a. Yes, on every donation, regardless of the c. Yes, when the donor is engaged in amount. business, and the amount of donation is at least P50,000 b. No, a notice of donation is not required. d. No, unless the property donated is real property. ____ 32. Who is not subject to donor’s tax? a. A corporation making a donation b. An individual making a donation c. An individual who pays premiums on the life insurance of another d. A partnership making a donation ____ 33. Exempted from donor’s taxation are gifts made a. In consideration of marriage c. To a for-profit government corporation b. To a school that is a stock corporation d. For the use of the barangay ____ 34. Cleaner Corporation wanted to donate P5 million as prize money for the world professional billiard championship held in the Philippines. Since the Billiard Sports Confederation of the Philippines does not recognize the event, it was held under the International Professional Billiards Association, Inc. Is Cleaner subject to the donor’s tax on its donation? a. Yes, since the national sports association c. No, so long as the donated money goes for billiards does not sanction the event directly to the winners and not through the association b. Yes, but only that part that exceeds the d. No, because it is donated as a prize for an first P100,000.00 of total Cleaner international competition under the donations for the calendar year billiards association ____ 35. A non-stock, non-profit school always had cash flow problems, resulting in failing to recruit well-trained administrative personnel to manage the school effectively. In 2010, Don Leon donated P100 million pesos to the school, provided the money shall be used solely for paying the salaries, wages, and benefits of administrative personnel. The donation represents less than 10% of Don Leon’s taxable income for the year. Is he subject to donor’s taxes? a. No, since the donation is directly and c. Yes, because the donation is to be wholly exclusively used for educational purposes used for administration purposes b. Yes, since he did not obtain the requisite d. No, because the donation does not exceed NGO certification before he made the 10% of his taxable income for 2010 donation ____ 36. I II In all cases, void donations are not subject to donors tax. Every donation between the spouses during the marriage shall be void. a. True, true b. False, false c. False, true d. True, false ____ 37. A resident alien, donated a piece of jewelry to his son, who got married on January 15, 2024. The piece of jewelry was mailed to his son on January 10, 2024, and was accepted on January 20, 2024. When is the last day to file the donor's tax return? a. February 19, 2024 c. February 14, 2024 b. February 9, 2024 d. March 20, 2024 ____ 38. I II A donation on which the donor’s tax is not paid is a valid donation Title to a tax-exempt donation of real property could not be transferred to the donee in the Register of Deeds unless the donor’s tax on the donation had been paid a. False, False b. False, True c. True, False d. True, True ____ 39. The donation of personal (movable) property may be made: I II Orally of the value is P5,000 or less, requiring simultaneous delivery. In Writing, if the value is more than P 5,000 a. Only II is correct b. Both I and II are correct c. Only I am correct d. Both I and II are incorrect ____ 40. I II A gift is perfected when the donor affects the actual or constructively delivery of the property donated. Donors tax is a property tax imposed on the property transferred by way of gift inter-vivos a. True, False b. False, False c. True, True d. False, True ____ 41. The location of the property is important in determining whether the property shall be included or not in the gross estate of a decedent who was a a. Non-resident citizen c. Non-resident alien b. Resident alien d. Resident citizen ____ 42. An estate tax is an excise tax on a person for transmitting their properties while still alive. a. True b. False ____ 43. Darren maintained a joint account with his wife in a bank with authority to withdraw in an “and account” arrangement with the bank. Darren died, and the BIR included the cash in the bank in that account as part of her gross estate of Darren. The wife objected that the account was not a joint account and that the balance in the account was allowed by the bank to be withdrawn already by her. The BIR was correct. Joint properties (conjugal and community) are includible in the gross estate of the person who died. a. True b. False ____ 44. Darren maintained a joint account with his wife in a bank with authority to withdraw in an “and account” arrangement with the bank. Darren died, and the BIR included the cash in the bank in that account as part of their gross estate of Darren. The wife objected that the account was not a joint account and that the balance in the report was allowed by the bank to be withdrawn already by her. The bank was in error in allowing the withdrawal of the deposit if it knew about the death of Darren, yet it did not withhold a final withholding tax of 6%. However, the BIR will not be precluded from collecting the correct estate tax due despite the error committed by the bank. a. True b. False ____ 45. The BIR may examine the bank deposits to ascertain the decedent’s gross estate without violating the Bank Secrecy Law. a. False b. True ____ 46. The term applied to the person whose property is transmitted through succession, whether or not he left a will a. decedent c. transferor b. transferee d. grantor ____ 47. The person to whom a will gives a gift of real property a. trustor c. legatee b. heir d. devisee ____ 48. Under the absolute community of property, jewelry for the personal and exclusive use of the wife shall belong to the a. wife c. husband and wife b. children d. husband ____ 49. Proceeds of life insurance shall be included in the gross estate if the beneficiary designated is The administrator and the designation is a. whether revocable or irrevocable b. revocable c. partly revocable, party irrevocable d. irrevocable ____ 50. Unpaid mortgage indebtedness is deductible from the gross estate provided the said property subject to the indebtedness is included in the gross estate, net of the mortgage indebtedness. A donation inter vivos by the decedent to the Philippine government a few months before his death is a deduction from the gross estate a. False, false b. False, true c. True, false d. True, true ____ 51. On imported products, the excise tax must be paid before removing the products from the Bureau of Customs. a. False b. True ____ 52. On locally manufactured products, the excise tax must be paid before removing the products from the place of production. a. True b. False ____ 53. When locally manufactured products are exported, the excise tax paid for them upon removal from the place of production may be refunded. a. True b. False ____ 54. Percentage tax due on the non-VAT portion of the sales/receipts shall be collected without penalty if timely paid on the due date immediately following the month/quarter when the taxpayer ceases to be a non-VAT. a. True b. False ____ 55. DST is levied independently on the transactions' legal status, giving rise to it. a. False b. True ____ 56. DST must not be paid upon issuing the instruments if the contracts are rescissible, void, voidable, or unenforceable. a. False b. True ____ 57. Excise taxes apply to goods manufactured or produced in the Philippines and to things imported. a. False b. True ____ 58. An article subject to excise tax may be exempt from VAT. a. True b. False ____ 59. An article subject to excise tax may be subject to VAT. a. True b. False ____ 60. A taxpayer may have two businesses where one is subject to VAT, and the other is subject to percentage tax. a. False b. True ____ 61. In the value-added tax on the sale of services, the output tax is computed: a. On billings of the month c. On the contract price of contracts completed during the taxable period b. On collections of the month on all billings d. Only and strictly on labor performed made under the contract for services ____ 62. Which of the following transactions is subject to zero-rated value-added tax? a. Services rendered by banks, non-bank c. Generation, transmission, and distribution financial intermediaries of electricity b. Services rendered to persons engaged in d. Services rendered by professionals such as international shipping or air transport CPAs, Physicians, and Lawyers operations ____ 63. Jose, a sole proprietor, buys and sells “kumot at kulambo,” subject to value-added tax. Since he uses the calendar year as his taxable year, his taxable quarters end on the last day of March, June, September, and December. When should Jose file the VAT quarterly return for his gross sales or receipts for June 1 to September 30? a. Within 30 days from September 30 c. Within 25 days from September 30 b. Within 45 days from September 30 d. Within 15days from September 30 ____ 64. One of the following is required to issue receipts or sales invoice a. A seller who is exempted by the c. Seller of merchandise whose sales commission of Internal Revenue in amounted to less than P25 meritorious cases b. Seller of merchandise whose sales d. Market vendors exclusively sell domestic amounted to P25 or more meat, vegetables, fruits, poultry, fish, and other food products ____ 65. For VAT purposes, condominium units, including their allotted parking space, are classified as other dwellings. a. False b. True ____ 66. Facilitation expense shall be included in determining applicable input VAT on importation. a. True b. False ____ 67. All VAT-exempt taxpayers are liable to a 3% percentage tax under Section 116 of the Tax Code. a. True b. False ____ 68. Banks are subject to the VAT on their interest income. a. False b. True ____ 69. A person who issues a VAT invoice on a VAT-exempt transaction is subject to VAT on the said transaction. a. False b. True ____ 70. VATable: Sale of real property not primarily held for sale to customers or held for lease in the ordinary course of business. a. True b. False ____ 71. A taxpayer may give the following reasons for refusing to pay his tax liability. Which is not acceptable for legally refusing to pay the tax? a. That the prescript on the period for the c. That he will derive no benefit from the tax collection of tax has lapsed b. That he has been deprived of due process d. That there is no territorial jurisdiction of law ____ 72. The official action of an officer authorized by law in ascertaining the amount of tax due under the law from a taxpayer is a. Distraint c. Delinquency b. Assessment d. Deficiency ____ 73. The following are the requisites for the exercise of the remedy of distraint and levy, except a. The tax due should be at least P1,000 c. The period to collect the tax has not yet been prescribed b. The taxpayer must be delinquent in the d. The taxpayer failed to pay the tax at the payment of tax time required ____ 74. The BIR shall take no action on the taxpayer’s disputed issues until the taxpayer has paid the deficiency taxes. a. When the assessment was issued against a c. Attributable to the undisputed issues in the false and fraudulent return assessment notice b. If the Regional Trial Court issues a writ of d. If there was a failure to pay the deficiency preliminary injunction to enjoin the BIR tax within 60 days of BIR demand ____ 75. Jeopardy assessment is a valid ground to compromise a tax liability. a. Because of doubt as to the validity of the c. If the compromise amount does not assessment exceed 10% of the basic tax b. Involving deficiency income taxes only, d. Only when there is approval from the but not for other taxes National Evaluation Board ____ 76. What should the BIR do when the prescriptive period for assessing a tax deficiency is about to prescribe, but the taxpayer has not yet complied with the BIR requirements for producing books of accounts and other records to substantiate the claimed claims deductions, exemptions, or credits? a. Issue a notice of constructive distraint to c. Call the taxpayer to a conference to protect government interest explain the delay b. Immediately investigate the taxpayer’s d. Issue a jeopardy assessment coupled with activities a letter of demand ____ 77. The following are administrative remedies available to a taxpayer in connection with the collection of taxes except one a. Filing of claim for tax refund or credit c. Entering into a compromise b. Filing a petition for reconsideration or d. Filing of a criminal complaint against reinvestigation erring BIR officials or employees ____ 78. Due to uncertainty about whether or not a new tax law applies to printing companies, ABC Printers submitted a legal query to the BIR on that issue. The BIR ruled that the new law does not cover printing companies. Relying on this ruling, ABC Printers did not pay the said tax. Subsequently, however, the BIR reversed the ruling and issued a new one stating that the tax covers printing companies. Could the BIR assess ABC Printers for the back taxes corresponding to the years before the new ruling? a. No, reversal of a ruling shall not be given c. No, the BIR is not allowed to reverse its a retroactive application if it will be ruling prejudicial to the taxpayer b. Yes, because taxation is the rule and d. Yes, because taxes are the lifeblood of the exemption is the exception government ____ 79. P, a Filipino citizen residing in Makati City, owns a vacation house and lot in San Francisco, California, USA, which he acquired in 2000 for P15M. On January 10, 2022, he sold said real property to J, another Filipino citizen residing in Quezon City, for P20M. On February 9, 2022, P filed the capital gains tax return and paid P1.2M, representing 6% capital gains tax. Since P did not derive any ordinary income, no income tax return was filed by him in 2022. After the tax audit conducted in 2023, the BIR officer assessed P for deficiency income tax computed as follows: P5M (P20M less P15M) x 30% = P1.5M, without the capital gains tax paid, is allowed as a tax credit. P consulted a real estate broker who said that the P1.2M capital gains tax should be credited from the P1.5M deficiency income tax. Is the BIR officer’s tax assessment correct? a. Yes, because the vacation house is located c. Yes, the assessment issued by the BIR is in the USA presumed correct b. No, because the 30% tax rate applies to d. No, the capital gains tax paid should have corporations been deducted from the P1.5M deficiency income tax ____ 80. Penalties or interest imposed on the taxpayer may be abated or canceled on the ground that the imposition thereof is unjust and excessive, except when: a. The taxpayer’s mistake in paying his tax is c. The taxpayer is declared insolvent or due to erroneous written official advice of bankrupt. a revenue officer. b. The filing of the return or payment of the d. The assessment is brought about due to tax is made at the wrong venue. the taxpayer’s noncompliance with the law due to a difficult interpretation. ____ 81. Which of the following items is correct? a. Interest incurred to acquire a business asset may be added to the cost of the property. b. Interest incurred on a loan from a brother is deductible. c. Interest expense incurred on unpaid value-added tax is reduced by 42% of interest income subjected to final tax d. Interest payable which had already been prescribed is deductible if paid voluntarily by the taxpayer ____ 82. Which of the following statements is correct? a. All compensation payments made by an employer to an employee are taxable to the employee. c. All traveling expenses incurred by an employee by the itinerary of travel approved by the employer are not taxable to the employee. b. Transportation expenses incurred by an d. All compensation payments made by an employee are nevertheless deductible to employer to an employee are deductible to the employer even if they are not incurred the employer. while away from home. ____ 83. Optional standard deduction is allowed to a. Nonresident alien engaged in trade or business b. Nonresident alien not engaged in trade or business c. Nonresident foreign corporation d. Resident alien ____ 84. Which of the following is a deductible expense for income tax purposes? a. Provision for doubtful accounts c. Ordinary repair of the personal car b. Salaries of domestic servants d. None of the above ____ 85. One of the following expenses is deductible from gross income a. Premiums paid on a life insurance policy c. Amount paid out for new building or for cover the employee's life when the permanent improvement or betterment, members of the employee's family are the made to increase the value of any property direct beneficiary under such policy. or estate b. Personal, living, and family expenses d. Any amount expended in restoring property or making good exhaustion thereof for an allowance has been made. ____ 86. Edwin Corporation took two life insurance policies on the life of its VP. The beneficiary is the corporation in one policy, and the other designates her husband as the revocable beneficiary. The insurance premium paid by Edwin Corporation is a. Tax-deductible insofar s the first policy is c. Not tax-deductible for both policies concerned b. Tax-deductible for both parties d. The first policy is not deductible; the second policy is deductible ____ 87. Which of the following items is an income of a resident citizen subject to the basic tax (schedule)? a. Share in the net income of an ordinary c. Dividend received from a domestic partnership corporation b. Interest income from PNB d. Prizes from USA lotto ____ 88. One of the following is a taxable income a. Proceeds of life insurance b. Compensation for injuries and sickness c. Income derived from gifts, bequests, and devices d. Amounts received as returns of premium ____ 89. Which of the following is included in gross income? a. Share in the net income of a general c. Compensation for injuries or sickness professional partnership b. Amounts received by insured as a return d. Life insurance proceeds of premium ____ 90. One of the following individual income taxpayers is not a resident alien. a. An alien present in the Philippines who is c. An alien who comes to the Philippines for not a mere transient or sojourner a definite purpose, which by its nature may be promptly accomplished b. An alien who comes to the Philippines of d. A person who is not a citizen of the such nature that an extended stay is Philippines but resides therein necessary for its accomplishment and who makes the Philippines his temporary home ____ 91. Penafrancia College, Inc., a proprietary educational institution, spent P5 million constructing a new school building. The amount spent on the construction a. Capitalized or expensed outright at the c. Capitalized or expensed at the option of option of the school the BIR b. Capitalized and claimed annual d. Must be claimed as an expense in the year depreciation over the life of the building of completion ____ 92. One is a deductible tax a. franchise tax b. special assessment c. donor’s tax d. estate tax ____ 93. Which of the following may be allowed to claim OSD in place of the itemized deductions a. All of the choices c. Domestic corporation b. Resident foreign corporation d. Taxable estate and trusts ____ 94. Proprietary educational institutions and nonprofit hospitals shall pay a taxable income at what percent? a. 30% c. 25% b. 10% d. 15% ____ 95. One of the following is deductible from the gross income even if not business-related a. Travel expenses c. Bad debts b. Charitable and other contributions d. Rent expenses ____ 96. Which of the following is subject to income tax? a. PAGCOR c. Philippine Health Insurance Corporation b. Local water districts d. SSS and GSIS ____ 97. If a stockholder receives a taxable stock dividend, what is the measure of income applicable to him? a. The fair market value of the shares on the c. The adjusted cost of the old shares and the date of declaration new shares of the corporation b. The book value of the shares of the d. Par value of the shares on the date he preceding calendar year. receives them ____ 98. Cash dividend received by a domestic corporation from a domestic corporation is a. Part of taxable income c. Subject to final tax b. Exempt from income tax d. Partly exempt, partly taxable ____ 99. Generally, sales of real property are subject to tax. Which of the following land sales is not allowed by the law to be subjected to tax? a. Land sold by the church c. Land sold to a government corporation b. Land foreclosed by the bank d. None of the above ____ 100. A corporation realized a gain from the disposition of its building not used in business should be a. Subject to minimum corporate income tax c. Subject to a final tax of 6% of 2% b. Exempt from income tax d. Subject to income tax of 30% Tax Practice Questions Answer Section MULTIPLE CHOICE 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. 38. 39. 40. 41. 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ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: A C A A A B B A A B B C TOP: TOP: TOP: TOP: TOP: TOP: TOP: TOP: TOP: TOP: TOP: TOP: Income tax individuals Income tax individuals Income tax corporation Income tax corporation Income tax corporation Income tax corporation Income tax corporation Income tax corporation Income tax corporation Income tax corporation Income tax corporation Income tax corporation