89 DQ 4 W 98 Er 4981 Q

NATIONAL UNIVERSITY
College of Business and Accountancy

2st term, S.Y. 2019-2020
MIDTERM EXAM-TAX
Name: ___________________________________ Section: _________________ Score: __________

I. Classify What type of tax is applicable to the following statements.
A = Income Tax
B = Business Tax ( VAT, Percentage Tax and Other Percentage Tax)
C = Transfer Tax ( Estate Tax & Donors Tax)
D = Final Tax (Capital Gains & Final Tax Table)
E = Tax Exempt
1.) Mr. A picking up a 1000 peso bill on the streets

2.) Mr. B giving a piece of land to his wife
3.) Mrs. B receiving the gift from Mr. B
4.) Sales of Jollibee food corporation of service to his customers
5.) Customers paying for the food bought in Jollibee
6.) Income from foreign currency deposit
7.) Income from Investments in savings account in ABC bank
8.) Lottery winnings of 9000 pesos
9.) PCSO winnings of 9,999 pesos
10.) Properties of Mr. D that was given to his successors upon his death
11.) Royalties from literature of a Corporation
12.) Royalties from Music of an Individual
13.) Interest income of Mr D. (Resident Filipino Citizen) from Korea
14.) Royalties of a famous book of Mr O titled , life of a bulldog sold in the US
15.) Income from Sabongan of Mr. R
16.) Income of from Cabarets
17.) Manny Pacquiao (Resident Filipino American dual Citizen) income from boxing match in the united states
18.) 13th month pay from an individual who has an annual Income of 400,000
19.) 13th month pay from an individual who has an annual income of 3,000,000
20.) Mr. T Sing a Korean, Earning an Annual Income of 1,500,000 pesos per year
II. PRINCIPLES OF TAXATION
21.) Which of the following is not considered as the power of taxation?
a. Police Power b. Power of Eminent Domain c. Power of Lien d. Taxation
22.) Which of the following is considered to be taxable in his income within and without of the country
a. Resident Citizen b. Resident Alien c. Non-Resident Citizen d. Non-Resident Alien
23.) Taxation is deemed to be a necessity of any country based on this theory
a. Life-Blood Theory b. Symbiotic Theory c. Theory of Evolution d. National Theory
24.) The Strongest Power of the government
25.) It is the power of the government that allows them to impose lien unto a property on which they will
take for the benefit of the public
26.) Which of the following Government Agencies are in charge of collection of Taxes?
NATIONAL UNIVERSITY
2st term, S.Y. 2019-2020
MIDTERM EXAM-TAX
a. Commission on Audit b. Bureau of Internal Revenue c. Bureau of Justice d. Bureau of Treasury

27.) Taxes Imposed on Cigarettes is what inherent power of the Government?
a. Health and Welfare b. Police Power c. Taxation d. B& C
28.) Which of the following is the main purpose of Taxation
a. To add to the coffers of the Rich
b. To raise Revenue for Government Purposes
c. To allow the Government to effectively implement Police Power
d. To reduce the inequalities between the rich and the poor
29.) A purposes who was imposed by the power of eminent domain has the right to receive which of the
following?
a. Just Compensation b. Money c. Price Higher than the Market Value d. Additional Tax
30.) Employees no longer need to file their income tax return due to the employer paying it on their
behave, This is usually called
a. Abono de Amo b. Substitute Filing c. Prostitute Filing c. Obligation of the employer
III. Determine whether:

A= Resident Citizen,
B= Non-Resident Citizen,
C= Resident Alien ,
D= Non-Resident Alien
31.) Pedro, a native of Bacolod city, Working overseas contract worker in Iraq
32.) George, Naturalized Filipino Citizen and Married to a Filipina, he had been working in Pampanga since
1990 to date (2019)
33.) Pau, Spanish Citizen Resident in Madrid, Spain spent one night vacation in Boracay
34.) Lee Min Ho, Korean Citizen held a Rap battle in the Philippines
35.) Lester Limheya, Born from both Chinese citizen parents in the UST hospital Philippines
36.) Tao, Ming Su Chinese Actor who speaks Chinese exclusively permanently residing in the Philippines
with his wife Vice Pretty a filipina
37.) Conrado macho dancer in Malaysia as a TNT , Conrado was born in the Philippines
38.) Derek Ramsy, Lives in Hongkong, Has a business in the Philippines (Not registed)
39.) Kym Chiu professional toothpick model in Thailand, Resides in Thailand but has a house in the
Philippines where her Filipino boyfriend resides.
40.) Anthony Boar Dane American Citizen, after visiting the Philippines last year fell inlove with the
country and married a Filipina. He still works in the US to date
NATIONAL UNIVERSITY
2st term, S.Y. 2019-2020
MIDTERM EXAM-TAX
Problems IV.
Carlo Married with 2 Dependent Children Received the following Income
Business Income, Philippines 1,000,000
Business Income, Hongkong 200,000
Interest in Peso Deposit (Money Market) 100,000
Interest in Foreign Currency Deposit System 420,000
Interest, Deposit in Hongkong 50,000
Prize in local lottery 50,000
PCSO Lotto Winnings 2,000,000
Prize Won in Contest in U.S 300,000
Lotto Winning in U.S 100,000
Dividend Income from Domestic Corporation 600,000
41.) How much should be the Taxable income of Carlo Assuming he is a Resident Citizen
a. P80,000
b. 180,000
c. 1,558,000
d. 1,650,000
42.) In relation to #41 assume he is a Non Resident Citizen

a. 1,000,000
b. 180,000
c. 908,000
d. 80,000
43.) In relation to #41 assume he is a Resident Alien

a. 908,000
b.1,000,000
c. 830,000
d. 80,000
44.) In relation to #41 assume he is a Non-Resident Alien not engaged in trade or business
a. 180,000
b. 908,000
c. 1,000,000
d. 80,000
NATIONAL UNIVERSITY
2st term, S.Y. 2019-2020
MIDTERM EXAM-TAX
45.) in relation to #41 how much is the total income subject to final tax
a. 3,170,000
b. 2,170,000
c. 1,170,000
d. 2,000,000
Use the following to answer the following

Ana a resident Citizen had the following data from the current year
Gross Income from Business (net of 12,000 with-holding tax) 688,000
Business Expenses 300,000
Royalty from books 40,000
46.) How much is the income tax payable of Ana

a. 12,000
b.18,000
c.30,000
d. Nil
47.) How much is the total income tax of Ana

a. 12,000
b. 18,000
c. 30,000
d. Nil
48.) PSCO winnings will be subject to what percent of TAX

a. 50%
b. 20%
c. 10%
d. 15%
49.) Lottery Winnings of less than 10,000 shall be subject to what percent of Final Tax
a. 0%
b. 10%
c. 15%
d. 20%
50.) How much should be paid by the person subject to final tax every time he is subject to that Tax
a. 0
b. The amount imposed by the BIR
c. Based on the income tax table
d. Based on the final tax Table

89 DQ 4 W 98 Er 4981 Q

Uploaded by

Copyright:

Available Formats

89 DQ 4 W 98 Er 4981 Q

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

89 DQ 4 W 98 Er 4981 Q

Uploaded by

Copyright:

Available Formats

NATIONAL UNIVERSITY

College of Business and Accountancy

Name: ___________________________ Section: _ Score: __

1.) Mr. A picking up a 1000 peso bill on the streets

a. Commission on Audit b. Bureau of Internal Revenue c. Bureau of Justice d. Bureau of Treasury

III. Determine whether:

42.) In relation to #41 assume he is a Non Resident Citizen

43.) In relation to #41 assume he is a Resident Alien

Use the following to answer the following

46.) How much is the income tax payable of Ana

47.) How much is the total income tax of Ana

48.) PSCO winnings will be subject to what percent of TAX

You might also like