Powers of the Commissioner on Internal Revenue 1. To interpret tax laws and decide tax cases; 2. To obtain information, and to summon, examine and take testimony of persons; 3. To make assessments and prescribe additional requirements for tax administration and enforcement; 4. To conduct inventory - taking, surveillance and to prescribe presumptive gross sales and receipts; 5. To terminate taxable period; 6. To prescribe real property values; 7. To inquire into bank deposit accounts; 8. To accredit and register tax agents; 9. To prescribe additional procedural or documentary requirements; and 10. To delegate power to subordinates. (Sec. 4 to 8, NIRC)

Powers of the Commissioner on Internal Revenue 1. To interpret tax laws and decide tax cases; 2. To obtain information, and to summon, examine and take testimony of persons; 3. To make assessments and prescribe additional requirements for tax administration and enforcement; 4. To conduct inventory - taking, surveillance and to prescribe presumptive gross sales and receipts; 5. To terminate taxable period; 6. To prescribe real property values; 7. To inquire into bank deposit accounts; 8. To accredit and register tax agents; 9. To prescribe additional procedural or documentary requirements; and 10. To delegate power to subordinates. (Sec. 4 to 8, NIRC)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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