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Flashcards in Chapter 2 Deck (29):
1

A SYSTEM INVOLVING ENFORCEMENT OF THROUGH ASSESSMENT AND COLLECTION

TAX ADMINISTRATION

2

INVOLVES THE PASSAGE OF TAX LAWS OR ORDINANCES THROUGH THE LEGISLATURE.

INVOLVES THE GRANTING OF TAX EXEMPTIONS, TAX AMNESTIES, AND TAX REMEDIES

LEVY OR IMPOSITION OF TAXES

3

ACT OF ADMINISTRATION AND IMPLEMENTATION OF THE TAX LAWS BY THE EXECUTIVE THROUGH ITS ADMINISTRATIVE AGENCIES SUCH AS THE BIR OR BOC

ASSESSMENT

4

A PROCESS INVOLVING THE ACT OF COMPLIANCE BY THE TAXPAYER IN CONTRBUTING HIS SHARE TO DEFRAY THE EXOENSES OF THE GOV’T

PAYMENT OF TAX

5

SOURCES OF REVENUE SHOULD BE SUFFICIENT TO MEET THE DEMANDS OF PUBLIC EXPENDITURES.

FISCAL ADEQUACY

6

TAX IMPOSED SHOULD BE PROPORTIONATE TO THE TAXPAYER’S ABILITY TO PAY.

EQUALITY OR THEORETICAL JUSTICE

7

TAX LAWS SHOULD BE CAPABLE OF CONVENIENT, JUST AND EFFECTIVE ADMINISTRATION.

ADMINISTRATIVE FEASIBILITY

8

THE PRINCIPAL ADMINISTRATIVE AGENCY OF THE GOV’T FOR TAX ADMINISTRATION

DEPARTMENT OF FINANCE (DOF)

9

THE ADMINISTRATIVE AGENCY OF THE GOV’T IN CHARGE OF THE PRIMARY FUNCTION REGARDING THE EXECUTION OF THE NIRC AND OTHER TAX LAWS AND REGULATIONS

BUREAU OF INTERNAL REVENUE (BIR)

10

TERMINATION OF THE TAX PERIOD

JEOPARDY ASSESSMENT

11

DOCUMENT ISSUED BY THE SELLER OF GOODS TO THE BUYER

SALES OR COMMERCIAL INVOICE

12

DOCUMENT ISSUED FOR SALES OF SERVICES

RECEIPT

13

PROCESS OF DETERMINING THE CORRECT AMOUNT OF TAX DUE IN ACCORDANCE WITH THE PREVAILING TAX LAWS

TAX ASSESSMENT

14

FORMAL REPORT PREPARED BY THE TAXPAYER OR HIS AGENT IN A PRESCRIBED FORM SHOWING AN ENUMERATION OF TAXABLE AMOINTS AND DESCRIPTION OF TAXABLE TRANSACTIONS, ALLOWABLE DEUDCTIONS, AMOUNT OF TAX, AND TAX PAYABLE TO THE GOV’T

TAX RETURN

15

THE PERIOD IN PROCESSING, APPRAISING, DETERMINING THE VALUE OF THE SUBJECT OF TAXATION, INCLUDING THE COMPUTATION OF TAX PRESCRIPTION, SURCHARGES AND INTERESTS TO ARRIVE AT THE SPECIFIC SUM OF TAX CHARGED TO A PERSON OR PROPERTY

ASSESSMENT PERIOD

16

A RESTRAINING ORDER ISSUED BY THE COURT HAVING JURISDICTION OVER THE FILED SUIT INTENDED TO FORBID THE CONTINUANCE OF THE ACTION OF LAW

INJUNCTION

17

SEIZURE BY THE GOV’T OF PERSONAL PROPERTY-TANGIBLE OR INTANGIBLE-TO ENFORCE THE PAYMENT OF TAXES, TO BE FOLLOWED BY ITS PUBLIC SALE IF TAXES ACCRUING THERETO ARE NOT VOLIUNTARILY PAID

DISTRAINT OF PERSONAL PROPERTY

18

SEIZURE BY THE GOV’T OF REAL PROPERTY TO ENFORCE THE PAYMENT OF TAXES, TO BE FOLLOWED BY ITS PUBLIC SALE IF TAXES ACCRUING THERETO ARE NOT VOLIUNTARILY PAID

LEVY OF REAL PROPERTY

19

A LEGAL CLAIM GRANTED TO THE GOV’T TO SECURE THE PROPER PAYMENT OF THE TAX, SURCHARGES, INTERESTS, AND COSTS ON ALL PROPERTY SUBJECT TO LEVY OR DISTRAINT

TAX LIEN

20

SEIZED PROPERTY IS SOLD AND PROCEEDS OF SALE ARE APPLIED TO SATISFY TAX LIABILITY AND THE EXCESS THEREOF SHALL BE RETURNED TO THE TAXPAYER

SEIZURE

21

FORFEITED (TAKING OF PROPERTY W/O COMPENSATION AS A RESULT OF AN OFFENSE COMMITTED) PROPERTY IS SOLD AND NO PART OR PROCEEDS GOES TO THE TAXPAYER BECAUSE THE PROPERTY IS CONFISCATED IFO THE GOV’T

FORFEITURE

22

A CONTRACT WHEREBY THE PARTIES, BY RECIPROCAL CONCESSIONS, AVOID LITIGATION OR PUT AN END TO ONE ALREADY COMMENCED

COMPROMISE

23

A REQUEST TO THE TAXPAYER TO PERMIT THE BEARER THEREOF TO CONDUCT THE NECESSARY EXAMINATION OF SAID BOOKS AND RECORDS, AND SIGNED BY THE THE BIR COMMISSIONER, HIS DEPUTY, OFFICIALS OF THE INVESTIGATING DIVISION, REGIONAL DIRECTOR, ASSISTANT DIRECTOR, OR THE RDO

LETTER OF AUTHORITY

24

A RECORD OF THE NAMES OF PERSONS RESIDING IN EACH CITY OR MUNICIPALITY KEPT AND MAINTAINED BY EVERY REVENUE REGIONAL DIRECTOR OF EVERY REGIONAL DISTRICT

NATIONAL TAX REGISTER

25

ONE THAT IS BROUGHT TO ENFORCE, REDRESS OR PROTECT PRIVATE RIGHTS

CIVIL ACTION

26

A PENAL PROSECUTION, IT IS AN ACTION, SUIT OR CAUSE INSTITUTED TO PUNISH AN INFRACTION OF THE CRIMINAL LAWS

CRIMINAL ACTION

27

FAILURE ON THE PART OF THE TAXPAYER TO PAY THE TAX DUE ON THE DATE FIXED BY LAW OR INDICATED IN THE ASSESSMENT NOTICE OR LETTER OF DEMAND

DELINQUENCY

28

CIVIL PENALTY IMPOSED BY LAW AS ADDITION TO THE MAIN TAX REQ’D TO BE PAID DUE TO DELINQUENCY OR MISREPRESENTATION OF TAXES

SURCHARGE

29

THE AMOUNT STILL DUE AND COLLECTIBLE FROM THE TAXPAYER UPON AUDIT OR INVESTIGATION

DEFICIENCY