Scribd
Upload
117 views14 pages

Summer Tax Final Examinations

This document contains 14 questions that appear to be from a tax law final exam. The questions cover a range of tax law topics including: 1) Whether tax exemptions can be construed in favor of taxpayers based on due process. 2) Distinguishing capital assets from ordinary assets and applying this to a scenario where a land was purchased and later sold. 3) Basic considerations for business owners claiming tax deductions for business expenses. 4) Whether a church can claim a full real property tax exemption on land used partly for commercial purposes. 5) Real property tax and income tax implications of a university leasing land to commercial tenants.

Uploaded by

Francis Louie Allera Humawid
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
117 views14 pages

Summer Tax Final Examinations

This document contains 14 questions that appear to be from a tax law final exam. The questions cover a range of tax law topics including: 1) Whether tax exemptions can be construed in favor of taxpayers based on due process. 2) Distinguishing capital assets from ordinary assets and applying this to a scenario where a land was purchased and later sold. 3) Basic considerations for business owners claiming tax deductions for business expenses. 4) Whether a church can claim a full real property tax exemption on land used partly for commercial purposes. 5) Real property tax and income tax implications of a university leasing land to commercial tenants.

Uploaded by

Francis Louie Allera Humawid
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 14

SPSPS Summer 2020 Final Examinations

Question 1 5 pts
Can tax exemptions be liberally construed in favor of taxpayers on the
ground that private property cannot be taken without due process of
law? Explain.
Answer:
SPSPS Summer 2020 Final Examinations

Question 2 10 pts
In early 2020, Mr. X bought a lot for Php 1 million in a subdivision 
with the intention of building his residence on it. He was informed that
every typhoon season, the entire subdivision is flooded and so the
land value of all the lots in the subdivision went down. He then
abandoned his plan to build his residence in this lot and instead sold
it for P750,000. At the time of sale , the zonal value was Php 500,000.
 

2.a. Distinguish a “capital asset” from an “ordinary asset”.


 

2.b. Is the lot being sold by Mr. X a “capital asset” or an “ordinary


asset”? Explain.
Answer:

Question 3 5 pts
SPSPS Summer 2020 Final Examinations

What are three basic considerations when a business-owner would


want to claim tax deductions for business-related expenses in order
to reduce his taxable income? Explain.
Answer:

Question 4 5 pts
SPSPS Summer 2020 Final Examinations

The Roman Catholic Church owns a 2-hectare lot in a town in Leyte.


The southern side and middle part are occupied by the Church and a
convent, the eastern side by a school run by the Church itself, the
southeastern side by some commercial establishments, while the rest
of the property , in particular the northwestern side, is idle and
unoccupied.
 

May the Church claim real property tax exemption on the entire land?
Answer:

Question 5 15 pts
SPSPS Summer 2020 Final Examinations

De La Salle University leases out a portion of its property to private


concessionaires, i.e., commercial canteens and bookstores. The lease
payments were factually proven to be used for educational purposes.
5.a. Is the land owned by De La Salle University subject to real
property tax?
5.b. Are the lease payments received by De La Salle University
subject to income tax?
5.c. Are the lease payments received by De La Salle University subject
to VAT?
Answer:

Question 6 5 pts
SPSPS Summer 2020 Final Examinations

May the State exercise the police power and the taxing power of  the
government simultaneously? 
Answer:

Question 7 5 pts
SPSPS Summer 2020 Final Examinations

When can there be double taxation and when is it prohibited?


Answer:
SPSPS Summer 2020 Final Examinations

Question 8 5 pts
Who are minimum wage earners (MWE)?  Is there a tax implication if
an employee is classified as such?
Answer:
SPSPS Summer 2020 Final Examinations

Question 9 10 pts
An obstetrician-gynecologist sought your advice regarding her tax
obligations on her professional income. What can you possibly
advise her? Explain in detail. 
Answer:
SPSPS Summer 2020 Final Examinations

Question 10 5 pts
Who are considered withholding tax agents? What are their
responsibilities under the withholding tax system?
Answer:
SPSPS Summer 2020 Final Examinations

Question 11 5 pts
What do you understand by the term "shifting" when we talk about
indirect taxes like Value Added Tax on most of grocery items?
Answer:
SPSPS Summer 2020 Final Examinations

Question 12 10 pts
What are the general principles of income taxation under our tax
code?
Answer:
SPSPS Summer 2020 Final Examinations

Question 13 5 pts
When can a taxpayer be charged for tax evasion? 
Answer:
SPSPS Summer 2020 Final Examinations

Question 14 10 pts
How can BIR practically invoke "Lifeblood Theory"?

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy