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    Donation Is Solely

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    Anthony Angel Tejares
    The document discusses several tax law scenarios: 1) A donation of P10,000 is exempt as a donation for marriage. Celia pays 30% donor's tax on P110,000 donation. P100,000 donation is exempt under donor's tax rate schedule. 2) Levox donating P5M as billiards prize is not subject to donor's tax as the donation is for an international competition under the billiards association. 3) Failure to pay customs duties and taxes or comply with customs procedures is a violation of tariff and customs laws. 4) A taxpayer's liability becomes fixed and subject to collection if they do not protest a deficiency tax assessment, as the assessment

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    Donation Is Solely

    Uploaded by

    Anthony Angel Tejares
    347 views2 pages
    The document discusses several tax law scenarios: 1) A donation of P10,000 is exempt as a donation for marriage. Celia pays 30% donor's tax on P110,000 donation. P100,000 donation is exempt under donor's tax rate schedule. 2) Levox donating P5M as billiards prize is not subject to donor's tax as the donation is for an international competition under the billiards association. 3) Failure to pay customs duties and taxes or comply with customs procedures is a violation of tariff and customs laws. 4) A taxpayer's liability becomes fixed and subject to collection if they do not protest a deficiency tax assessment, as the assessment

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    The document discusses several tax law scenarios: 1) A donation of P10,000 is exempt as a donation for marriage. Celia pays 30% donor's tax on P110,000 donation. P100,000 donation is exempt under donor's tax rate schedule. 2) Levox donating P5M as billiards prize is not subject to donor's tax as the donation is for an international competition under the billiards association. 3) Failure to pay customs duties and taxes or comply with customs procedures is a violation of tariff and customs laws. 4) A taxpayer's liability becomes fixed and subject to collection if they do not protest a deficiency tax assessment, as the assessment

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    347 views2 pages

    Donation Is Solely

    Uploaded by

    Anthony Angel Tejares
    The document discusses several tax law scenarios: 1) A donation of P10,000 is exempt as a donation for marriage. Celia pays 30% donor's tax on P110,000 donation. P100,000 donation is exempt under donor's tax rate schedule. 2) Levox donating P5M as billiards prize is not subject to donor's tax as the donation is for an international competition under the billiards association. 3) Failure to pay customs duties and taxes or comply with customs procedures is a violation of tariff and customs laws. 4) A taxpayer's liability becomes fixed and subject to collection if they do not protest a deficiency tax assessment, as the assessment

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    A P10,000.

    00 portion of the donation is exempt being a donation in


    consideration of marriage.

    (C) Celia shall pay a 30% donor's tax on the P110,000.00 donation.

    (D) The P100,000.00 portion of the donation is exempt under the rate
    schedule for donor's tax.

    (52) Levox Corporation wanted to donate P5 million as prize money for the world
    professional billiard championship to be held in the Philippines. Since the Billiard
    Sports Confederation of the Philippines does not recognize the event, it was held
    under the auspices of the International Professional Billiards Association, Inc. Is
    Levox subject to the donor's tax on its donation?

    (A) No, so long as the donated money goes directly to the winners and not
    through the association.

    (B) Yes, since the national sports association for billiards does not
    sanction the event.

    (C) No, because it is donated as prize for an international competition under


    the billiards association.

    (D) Yes, but only that part that exceeds the first P100,000.00 of total Levox
    donations for the calendar year.

    (53) A violation of the tariff and customs laws is the failure to

    (A) pay the customs duties and taxes and to comply with the rules on
    customs procedures.

    (B) pay the customs duties and taxes or to comply with the rules on
    customs procedures.

    (C) pay the customs duties and taxes.

    (D) comply with the rules on customs procedures.

    (54) What is the effect on the tax liability of a taxpayer who does not protest an
    assessment for deficiency taxes?

    (A) The taxpayer may appeal his liability to the CTA since the assessment is a
    final decision of the Commissioner on the matter.

    (B) The BIR could already enforce the collection of the taxpayer's liability if it
    could secure authority from the CTA.
    (C) The taxpayer's liability becomes fixed and subject to collection as
    the assessment becomes final and collectible.

    (D) The taxpayer's liability remains suspended for 180 days from the
    expiration of the period to protest.

    (55) A non-stock, non-profit school always had cash flow problems, resulting in
    failure to recruit well-trained administrative personnel to effectively manage the
    school. 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 actually, directly, and exclusively used for
    educational purposes.

    (B) Yes, because the donation is to be wholly used for administration


    purposes.

    (C) Yes, since he did not obtain the requisite NGO certification before he
    made the donation.

    (D) No, because the donation does not exceed 10% of his taxable income for
    2010.

    (56) What is the tax base for the imposition by the province of professional taxes?

    (A) That which Congress determined.

    (B) The pertinent provision of the local Government Code

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