Scribd Logo
Upload

Welcome to Scribd!

  • 7 views

    Basis Effect of Non-Payment Mode of Payment Assignability Interest

    Uploaded by

    Frances Mae Ortiz Maglinte
    rtedg fgth ht dfr hj

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Basis Effect of Non-Payment Mode of Payment Assignability Interest

    Uploaded by

    Frances Mae Ortiz Maglinte
    7 views2 pages
    rtedg fgth ht dfr hj

    Original Title

    TAX

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    rtedg fgth ht dfr hj

    Copyright:

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

    Basis Effect of Non-Payment Mode of Payment Assignability Interest

    Uploaded by

    Frances Mae Ortiz Maglinte
    rtedg fgth ht dfr hj

    Copyright:

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

    TAX DEBT

    Basis Tax is from law. Debt is from private


    contracts.
    Effect of Non-payment Can leads to imprisonment. Does not lead to
    imprisonment.
    Mode of Payment Tax is generally payable in Debt can be paid in kind
    money. (dacion en pago ).
    Assignability Tax arises from law. Debt arises from private
    contracts.
    Interest Tax draws interest only Debt draws interest when it
    when the taxpayer is is so stipulated by the
    delinquent. contracting parties or when
    the debtor incurs a legal
    delay.
    Authority Tax arises from law. Debt arises from private
    contracts.
    Prescription Tax is not subject to set-off. Debt can be subject to set-
    off.

    TAX TOLL
    Definition Tax is a levy of government. Toll is a charge for the use
    of other’s property.
    Basis It is a demand of It is a demand of ownership.
    sovereignty.
    Amount The amount of tax depends The amount of toll is
    upon the needs of the dependent upon the value
    government. of the property leased.
    Authority Government and private Private entities.
    entities.

    TAX LICENSE
    Purpose Tax emanates from taxation Tax emanates from taxation
    power. power.
    Basis Tax has a broader subject License has a detailed
    than license. subject than tax.
    Amount Tax is imposed upon any License is imposed to
    object such as persons, regulate the exercise of a
    properties, or privileges to privilege such as
    raise revenue. commencement of a
    business or a profession.
    Time of Payment Post-activity imposition. Pre-activity imposition.
    Effect of Non-payment Taxes are imposed after the License is imposed before
    commencement of a engagement in those
    business or profession. activity.

    TAX PENALTY
    Definition Tax is a sum of money  A penalty is a punitive
    demanded by a government measure that the law
    for its support or for imposes for the
    specific facilities or services, performance of an act that
    levied upon incomes, is proscribed, or for the
    property, sales, etc.  failure to perform a
    required act. 
    Purpose Tax is an amount imposed Penalty is an amount
    for the support of the imposed to discourage an
    government. act.
    Authority Tax arises from law. Penalty arises both from
    law or contracts.

    You might also like