LocalTaxationPreferentialTaxationTariffAndCustomCode.pdf -...

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1.For the year 2015 the following information from business:Gross Receipts from businessP900,000.00Rental Income650,000.00Operational Expenses400,000.00Real Properties17,000,000.00Compute Individual Community tax.a.P1,555.00c. P5,200.00b.P1,155.00d. P5,005.00
2.Compute Corporate Community Tax.
3.Who has the authority to collect Community Tax?
4.What is the characteristic of Community Tax?
5.Elorde, a famous boxer intends to convert his boxing gymnasium into a cockpit arena. Elordesummons you to give him advise to go over his tax exposures, as a certified public accountantyou will recommend to Mr. Elorde which following reference/documents?a.National Internal Revenue Codeb.Revenue Regulations of the NIRCc.Local Government Coded.Tariff and Customs Code
6.Your client, Mr. Aegis, is an importer inquired what laws will have most relevance in his dailytransactions. Having several laws to take into consideration which laws do you recommend forMr. Aegis to read?
7.The RATE program of the Bureau of Internal Revenue to eradicate:
8.A documentary stamp tax is necessary in:
9.JB bookstore is using cash method of accounting in recognizing its taxable income anddeductions. For the current year, JB decided to adopt the accrual method of recognizing incomeand expenses. The application for permission to change the method of accounting employedand the basis upon which return is made shall be filled to the BIR within:a.90 daysc. 30 days
b.60 daysd. 15 days10.As a Certified Public Accountant what would you tell if a domestic corporation asked you whereto file first its financial statements and income tax returns?
11.With regard to the question, how may financial statement and tax return copies are filled withthe Bureau of internal Revenue?

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Term
Fall
Professor
EmilyBryan
Tags
Taxation in the United States

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