HECO (finals) - bonus quiz bee questions

Robert Owen

Specifically identified as the one who helped found the first British trade union

Claude Henri de Rouvroy (Saint-Simon)

A founder of modern socialism who advocated for social organization directed by men of science and industry

Louis Blanc

Established the magazine Revue de Progress and believed social principles could be realized through "social workshops"

Charles Fourier

His system is based on a universal principle of harmony in the material universe, organic life, animal life, and human society

RA 6938

This was the previous law that governed cooperatives before the enactment of RA 9520 (The Philippine Cooperative Code of 2008)

Cooperative Membership Rule

Members in Primary cooperatives are natural persons

Extension Timeline

A cooperative's term can only be extended within 5 years prior to expiry (not 10)

Tax Law Definition

A body of rules passed by the legislature by which the government acquires a claim or property as a matter of legal duty

Inherent Power of Taxation

Sustenance of government requires contribution from the people; it is an attribute of sovereignty

Legislative Sole Power

The legislature has the sole power to prescribe the means of collection and designate enforcement officers

Poll Tax

Also known as Personal or Captivation tax, imposed regardless of property or occupation (e.g., Cedula/Residence Tax)

Donor's Tax

Also called Gift Tax, levied on the act of giving

Amusement Tax

Imposed on gross receipts of proprietors of cockpits, cabarets, night or day clubs

LGU Restrictions

Under the Local Government Code, LGUs are prohibited from imposing Income Tax, except on banks and other financial institutions

Capitalization

A form of backward shifting that specifically occurs when the good is a durable good

Transformation

An escape from taxation effected through the process of production