Bar questions · 2012
Taxation Law
80 questions from the 2012 bar examination.
- 1.Decisions of the Collector of Customs in protest and seizure cases are appealable to the Commissioner of Customs within 15 days from receipt of notice of the written decision of the Collector. As a rule, decisions of theNot answered yetMultiple choice
- 2.The present case is similar to the case of Commissioner of Customs vs. Marina Sales, Inc. (G.R. No. 183868, November 22, 2010) where the Supreme Court held that Rule 8, Section 1 of the Revised Rules of Court of Tax AppeNot answered yetMultiple choice
- 3.The valuation of Mr. L’s gift to his children is the fair market value (FMV) of the property at the time of donation. It is the higher of the FMV as determined by the Commissioner or the FMV as shown in the schedule of vNot answered yetMultiple choice
- 4.On January 10, 2011, Maria Reyes, single-mother, donated cash in the amount of P50,000.00 to her daughter Cristina, and on December 20, 2011, she donated another P50,000.00 to Cristina. Which statement is correct? (2012 Not answered yetMultiple choice
- 5.While he was traveling with friends, Mr. Jose Francisco, resident Filipino citizen, died on January 20, 2011 in a California Hospital, USA, leaving personal and real properties with market values as follows: House and LoNot answered yetMultiple choice
- 6.Jose Ramos, single, died of a heart attack on October 10, 2011, leaving a residential house and lot with a market value of P1.8 Million and cash of P100,000.00. Funeral expenses paid amounted to P250,000.00. (2012 Bar QuNot answered yetMultiple choice
- 7.Which of the following statement is NOT correct? (2012 Bar Question)Not answered yetMultiple choice
- 8.Section 6(B) of the NIRC authorizes the Commissioner to assess the property tax due from a taxpayer when he believes that the report the taxpayer submitted is false, incomplete, or erroneous. The same provision authorizeNot answered yetMultiple choice
- 9.2010 – 2015 TAXATION BAR EXAM QUESTIONS ON INCOME TAX The Philippines adopted the semi-global tax system, which means that: (2012 Bar Question)Not answered yetMultiple choice
- 10.Shanghai facility of a Chinese firm. Income from the performance of services is treated as income from within the Philippines, if: (2012 Bar Question)Not answered yetMultiple choice
- 11.A resident corporation is one that is: (2012 Bar Question)Not answered yetMultiple choice
- 12.Philippines. A general professional partnership (GPP) is one: (2012 Bar Question)Not answered yetMultiple choice
- 13.The appropriate method of accounting for a contractor on his long-term construction contract (i.e., it takes more than a year to finish) is: (2012 Bar Question)Not answered yetMultiple choice
- 14.The “all events test” is a test applied in the realization of income and expense by an accrual-basis taxpayer. The test requires (a) the fixing of a right to the income or liability to pay, and (b) the availability of reNot answered yetMultiple choice
- 15.An individual, who is a real estate dealer, sold a residential lot in Quezon City at a gain of P100,000.00 (selling price of P900,000.00 and cost is P800,00.00). The sale is subject to income tax as follows: (2012 Bar QuNot answered yetMultiple choice
- 16.In 2006, Mr. Vicente Tagle, a retiree, bought 10,000 CDA shares that are unlisted in the local stock exchange for P10 per share. In 2010, the said shares had a book value per share of P60 per share. In view of a car acciNot answered yetMultiple choice
- 17.Mr. H may avail the exemption from capital gains tax on sale of principal residence by natural persons. Under the law, the following are the requisites: (1) proceeds of the sale of the principal residence have been fullyNot answered yetMultiple choice
- 18.DDD Corp. is not correct. Any person who, in the ordinary course of trade or business, leases properties, whether personal or real, shall be subject to value-added tax (VAT), except for unless the gross annual receipts oNot answered yetMultiple choice
- 19.Section 23 in relation to Section 42, NIRC. During the audit conducted by the BIR official, it was found that the rental income claimed by the corporation was not subjected to expanded withholding tax. Accordingly, the cNot answered yetEssay
- 20.All the items below are excluded from gross income, except: (2012 Bar Question)Not answered yetMultiple choice