Income Tax-A Game 2
Review on the Types of Taxes
Created Date
05.05.21
Last Updated
05.06.21
Viewed 2 Times
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Topics of this game:
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What is the type of tax on a person's income, emoluments, profits arising from property, practice of profession, conduct of trade or business or on the pertinent items of gross income specified in the Tax Code of 1997 (Tax Code), less government mandated deductions (e.g. Phil Health) authorized as amended or under special laws?
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What is the type of tax imposed on the gains presumed to have been realized by the seller from the sale, exchange, or other disposition of capital assets located in the Philippines, including pacto de retro (sale wherein the seller has the right to repurchase the subject matter or the property being sold) and other forms of conditional sale?
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What is the type of tax is on documents, instruments, loan agreements and papers evidencing the acceptance, assignment, sale or transfer of an obligation, rights, or property incident thereto?
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What is the type of tax that is on a donation or gift, and is imposed on the gratuitous transfer of property between two or more persons who are living at the time of the transfer?
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What is the type of tax is on the right of the deceased person to transmit his/her estate to his/her lawful heirs and beneficiaries at the time of death and on certain transfers which are made by law as equivalent to testamentary disposition?
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What is the type of tax is on all yearly profits arising from property, profession, trades or offices or as a tax on a person’s income, emoluments, profits and the like?
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What is the type of tax is on the production, sale or consumption of a commodity in the country. It applies to goods manufactured or produced in the Philippines for domestic sale or consumption and imported goods?
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What is the type of tax imposed on persons or entities who sell or lease goods, properties or services in the course of trade or business whose gross annual sales or receipts DO NOT exceed P 250,000 and are not VAT-registered?
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What is the type of tax imposed and collected from the seller in the course of trade on every sale of properties (real or personal) lease of goods or properties (real or personal) and vendors of services. It is an Indirect Tax, thus, it can be passed on to the buyer?
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What is the type of tax withheld from individuals receiving purely compensation income?
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What is the type of tax is a kind of withholding tax which is prescribed only for certain payor's and is CREDITABLE against the income tax due of the payee for the taxable quarter year?
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What is the type of tax is a kind of withholding tax which is prescribed only for certain payor's and is NOT CREDITABLE against the income tax due of the payee for the taxable year. Tax withheld constitutes the full and final payment of the Income Tax due from the payee on the said income?
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What is the type of tax is the withholding tax withheld by government offices and instrumentality, including government-owned or -controlled corporations and local government units, before making any payments to private individuals, corporations, partnerships and/or associations?
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