TAXATIONS 2

Free personal healthcare for all citizens

The power of the state to take private property for public purposes upon payment of a just compensation.

Life Blood Theory

Which theory of taxation states that "Taxation is the lifeblood of the government. The government cannot survive without it."?

Symbiotic Relationship Doctrine

The Benefits Received Theory of taxation follows which doctrine?

To provide funds or property to promote general welfare and protection of citizens.

What is the PRIMARY purpose of taxation according to the source?

To reduce inequalities in wealth and income by adopting progressively higher tax rates.

Which of the following is a SECONDARY purpose of taxation?

Inherent power to enforce proportional contribution from its subjects for public use.

How is "State Power" defined in the context of taxation in the source?

Power of Referendum

Which of the following is NOT one of the three inherent powers of the state mentioned in the source?

Power of Eminent Domain

The power of the state to take private property for public purposes upon payment of a just compensation is known as:

It is proportional in character.

Which of the following is an essential characteristic of taxes?

The process of laying taxes by the legislature of the state to enforce proportional contribution from its subject for public purpose

what is the "Legislative Process" in relation to taxation?

Withholding Tax

The tax withheld from individuals receiving purely compensation income is known as:

A tax imposed on all yearly profits arising from property, profession, trades or offices or as a tax on a person's income and profits.1

What is an "Income Tax" defined as in the source?

An indirect tax

What kind of tax is Value-Added Tax (VAT) considered, based on the source's description that it "can be passed on the buyer"?

Percentage Tax

Which business tax is imposed on persons or entities whose gross annual sales or receipts do not exceed a certain threshold and are not VAT-registered?

Donation/Gift Tax

Which type of tax is imposed on the gratuitous transfer of property between two or more persons who are living at the time of the transfer?

Capital Gains Tax

A tax imposed on the gains presumed to have been realized by the seller from the sale, exchange, or other disposition of capital assets located in the Philippines is called:

Tax Reform for Acceleration and Inclusion (TRAIN)

What is Republic Act No. 10963 more commonly known as?

Department of Finance

The Bureau of Internal Revenue (BIR) is under the supervision and control of which department?

They all presuppose an equivalent form of compensation received by the persons affected

Which statement is TRUE regarding the similarities of the three inherent powers of the state?

Power of Eminent Domain

The power of the state to take private property for public purposes upon payment of a just compensation is known as: