What is the role of BIR?

Q: What are the classifications of individual taxpayers?

A: An entity that is required to pay taxes to state, federal or government municipal body is known as a…

Q: Distinguish between Direct and Indirect taxes giving the various examples where necessary.

A: Taxes are the compulsory obligations to be paid by the individuals to government. It can be levied…

Q: Discuss the different types of taxpayers.

A: there are different types of taxpayer in the Philippines it often times causes public confusion…

Q: Q#02: (b) Differentiate between income tax and sales tax. Explain both of these types with the help…

A: Tax means the mandatory payment made by assesse to the government without expecting anything…

Q: report expenses using correct tax categories because

A: The accountants have to report expenses under correct categories always.

Q: 1. What does self assessment mean?

A: Self assessment refers to the act or the procedure of analysing as well as determining the actions…

Q: sic Re

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

Q: Explain various types of taxes

A: taxes A tax may be a obligatory fee or monetary charge levied by any government on a private or a…

Q: What is Capital Gains Tax and give examples?

A: Income tax:  It is the amount a person is liable to pay on the earned amount in an accounting year.…

Q: What is the difference between tax reliefs and tax credits?

A: Taxes are mandatory payments placed on individuals or businesses by a government agency, whether…

Q: What are the principles of a sound tax system? Briefly explain each

A: Introduction:- The tax system is described as a legally controlled system of public relations based…

Q: what is Tax Rights and Responsibilities?

A: Tax is the amount which is paid out from the taxable income of the taxpayer. There are various…

Q: Read Section 1374 for built-in-gain tax 1. When does the tax apply?

A: The answer for the question on the Section 1374 for built - in - gain tax is given hereunder :…

Q: A tax structured so that people with the different incomes pay the same percentage of their income…

A: A tax structured so that people with the different incomes pay the same percentage of their income…

Q: What are the different type of income tax?

A: The answer for the question on the different types of income tax is discussed hereunder : Taxes are…

Q: Why is income the basis for tax? Explain concisely in 3-5 sentences.

A: Basis means anything that the govt uses to compute the tax.

Q: Explain the functioning of flat taxation. Which taxpayers are usually subject to a flat tax rate?

A: Flat taxation is a taxation system where all taxpayers are subject to the same tax rate, regardless…

Q: How is tax accounting different from financial accounting?

A: Accounting: It can be defined as the process of summarizing and recording the company’s financial…

Q: The tax rate is the ratio between the amount of tax and the amount of income. true Error

A: >Tax rate is the rate of tax that is levied by the regulating authorities.>Income tax rate is…

Q: 1. What is Profession Tax and its examples?

A: Tax is the money to be used by government for the overall development of the nation. Tax may be in…

Q: What is Barangay Tax and give examples?

A: Tax is referred to as the financial charge imposed on the taxpayer that is levied by the government…

Q: May an exaction be both a tax and regulatory fee

A: First of all we need to understand that Tax and Regulatory fees both are independent and can not…

Q: What are the determinants of Tax Revenue? Show how you can improve Tax Revenue.

A: Tax revenue is the revenue for the governmental authorities when income earners pay taxes as per the…

Q: An example of investment income that would be subject to the net investment income tax is: A. Rental…

A: Answer:-  Net investment income:- For the taxation purpose net investment income is the total…

Q: What are the three different kinds of income tax systems? (Explain each)

A: Income tax is a direct tax which is levied on the income. Taxes are the fees which are charged by…

Q: 1.How is cost recovery properly assessed that will account for tax benefit?

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

Q: What are the additional income taxes?

A: Income tax: Income tax is a tax levied on an individual’s income (taxable income). It is a direct…

Q: What is Barangay Tax and its examples?

A: Tax is defined as the financial charge imposed on taxpayers that are levied by the government for…

Q: Tax evasion connotes the integration of three factors. What are those three factors?

A:

Q: 1. Name three types of tax rate structure and give examples.

A: Hi student Since there are multiple questions, we will answer only first question.

Q: What are the features of final income tax?

A: Introduction:- Final tax is one of the exemptions to the extent of the regular income tax. An…

Q: why is income tax expense shown in the income statement different from the income tax paid shown in…

A: Income statement: The financial statement which reports revenues and expenses from business…

Q: enumerate the classification of income taxpayers and give example on each classification.

A: The term "taxpayer" is used to describe someone who pays taxes. A taxpayer is an individual or…

Q: Discuss five differences between Zakat and tax.

A:

Q: 1. ntiate between a property tax and transfer tax.

A: please like the answer your response matters  MEANING OF TAX:-It refers to the amount paid to the…

Q: What is Situs of Taxation? Give at least three (3) examples.

A: Individuals' earnings from more than one country or business or profession get confused about which…

Q: Q2: What is tax accounting? Explain with the help of permanent tax difference.

A: Tax accounting: It is an accounting method that focus on taxes rather than presenting financial…

Q: In T1 General Tax Form, Total Income is reported on Line??

A: Total Income - The total of a taxpayer's earnings from all sources, determined in line with the…

Q: What about the tax return preparation?

A: This is the follow-up question which is regarding the tax return preparation expenses incurred by…

Q: What is personal income tax and it's use?

A: Income tax is a type of tax that governments impose on income generated by businesses and…

Q: Define tax savings due to interest (TSt )

A: Tax savings are the amount saved in form of tax payable to the government. Tax savings due to…