Real property tax is an example of a national tax. * A. True B. False

Q: One of the bases that the legislator must take into consideration when developing tax legislation in…

A: Developing a tax legislation in any countryhas very wide scope and definition, therefore

Q: What do you think is the reason why governments grants "exclusion from the gross income

A: Possible reasons why government grants exclusions from gross income can be as follows.  1) To…

Q: 1. What is Capital Gains Tax? 2. What is Documentary Stamp Tax ?

A: The answer is provided below:

Q: Which of the following is not deductible from gross income? *   Community tax Excise tax…

A: Tax payer can deduct state and local income taxes, real property taxes, and personal property taxes…

Q: how is the US income tax system unique?  Do you think it is good for tax payers?

A: The US Income Tax system is a robuts and strong system and the federal income tax is the largest…

Q: What are the four factors that deter the manner in which income earned foreign operation of a U.S.…

A: Foreign collaboration is taxed in the United States if it does business in the country or gets money…

Q: Can you give one example of tax avoidance and what its effect on the tax collection of the country?

A: Tax avoidance is made before calculating actual tax liability.

Q: Which of the following refunds is not subject to income tax a, Local tax expense b.Special…

A: Answer: Th refund which is not subject to income tax are those amount for which earlier deduction…

Q: g. A municipal property tax on real estate is O regressive, and the incident is on the consumer if…

A: “Since you have asked multiple questions, we will solve the one question for you. If you want any…

Q: a. Explain what is meant by general anti-avoidance rule.  B).  State what impact this could have on…

A: Anti-avoidance in general:- The GAAR is a concept that allows a country's Revenue Authority to deny…

Q: sic Re

A: Basic Real Property Tax Property tax is the amount that is paid by the land owner to the municipal…

Q: Real estate taxes are municipal or local taxes. a. True b. False

A: Correct Answer:-  True

Q: Statement 1: Under Schedular Tax System, income tax rules vary and made to depend on the kind or…

A: The government collects taxes from the individuals and other firms with a view to finance the…

Q: Which of the following statements is (are) correct? (x)  Part of the administrative burden of a tax…

A: A mortgage is a contract between borrower and a lender that provides the lender the right to take…

Q: Philippine tax laws are: a. Civil, not political, not penal b. Civil, not political, penal c. Civil,…

A: Philippine Tax laws are civil, not penal and not political in nature. But there are penalties…

Q: 1. The community tax is a local tax

A: Local tax is a tax assessment by state or the municipality to fund public services, taxes levied by…

Q: flat tax income tax property tax

A: A progressive tax is one in which the average tax burden grows in proportion to income.…

Q: d. either current or expected future tax laws

A: Taxes are the amount of dues or liabilities that need to be paid by the individual to the…

Q: Which is not a characteristic of corporate income tax? Progressive tax   General tax Direct tax…

A: Taxes are the major source of revenue for the government. There can be various type of taxes which…

Q: Real property tax is an example of: Group of answer choices Property tax Excise tax Privilege tax…

A: Real property tax is the tax on real property like land and buildings, improvements, machinery, etc.…

Q: f ambiguity, tax exemptions shall be interpreted liberally in favor of the government. Group of…

A: Tax exemptions are given for the benefits of assessee.

Q: 1. Which of the following is not deductible from gross income? a. Transportation expense from the…

A: Honor Code: Since you have asked multiple questions, we will solve the first question for you. If…

Q: Which of the following statements is / are correct?

A: Refundable tax credits include earned income credit. Non refundable tax credits are those credits…

Q: FIT (Federal Income Tax) is tax paid from your income to the national level of government. Your…

A: Tax is a payment made to the government by a taxpayer for the government or social resources used by…

Q: Internal revenue taxes are national taxes. a. True b. False

A: Internal Revenue Taxes:- At the national level, taxes imposed and collected in respect of the…

Q: 4. Why is real property tax a better tax than personal property?

A: Real property taxes are taxes levied on real property like commercial, industrial property ,…

Q: Tax laws, being imposition of burden, shall be strictly construed against: *         A person who…

A: The rules and regulations that govern how, when, and how much taxes must be paid to local, state,…

Q: mcertain tax positi 21, the IRS challen impact does the ser Explain.

A: The current market value of an ordinary share of a company is the current price of shares quoted on…

Q: Which is not a feature of final tax? A. Covers certain passive income B. Covers all capital gains C.…

A: Solution Capital gain can be defined as any profit that is received through the sale of capital…

Q: Philippine tax laws are, by nature, O a. political. O b. civil. C. political and civil. O d. penal…

A: SOLUTION- PHILIPPINE TAX LAW  CAN NOT BE IMPOSED BY THE LOCAL GOVERNMENT. THE BASIC SOURCE OF…

Q: How do you call a deductible temporary difference? a. Current tax asset. b. Deferred tax asset.…

A: As per IAS 12  The amount of the income taxes which will be Recoverable in future period in respect…

Q: How are national taxes similar to and/or different from local taxes?

A: National taxes refer to national internal revenue taxes imposed and collected by the national…

Q: ral unemployment tax l Security tax care tax ral income tax

A: Payroll tax expense is the employers contribution  or share for payroll taxes for his employees. The…

Q: Tax deductions differ from tax credits because:   A. deductions affect relative prices, credits do…

A: Tax Deduction:-Tax Deduction means when there is subtraction in the taxable income of a person under…

Q: U.S. form 1040 or 1040EZ is the form for an individual tax retum. O True O False

A: Answer -  The IRS 1040 form of Income tax return is one of the official documents that U.S.…

Q: 3. Suppose that the U.S. personal income tax system became a flat tax system, in which all taxpayers…

A: Flat rate Tax System In the flat rate tax system there must be only one tax rate which can be…

Q: Is the local property tax a regressive tax, or a progressive tax?

A: Progressive Taxes: Taxes that require high income groups to pay a larger percentage of income in…

Q: Basic community tax is an example of while income tax is a kind of O Privilege tax; capitation tax…

A: Basic community tax is an example of Privilege tax while income tax is a kind of Capitation tax.

Q: Which is NOT a remedy in double taxation?

A: Basically double taxation refers to the  tax principle where the income tax are being paid twice for…

Q: 3. The following are deductions from input taxes, except a. Input tax claimed as tax credit b. Input…

A: Input tax credit is the important component in the goods and service tax because these are claimed…

Q: Question 36 in the case of property tax, government costs are low but taxpayer costs are high. O…

A: Answer of this question is - True

Q: In the case of property tax, government costs are low but taxpayer cost are high

A: Property tax levy is imposed primarily on land and buildings and also imposed on business,farm…

Q: Which deduction was lost in the new tax law? A. mortgage interest

A: Tax is a liability reported in the balance sheet calculated on the income earned. It is paid to the…