1. Which of the following is an excise tax? a. Real property tax b. Community tax c. Documentary stamp tax d. Special assessment 2. One of the principles in business tax is the application of “Principle of Destination”. Which of the following is not an application of the said principle? a. Celine Dion who performed concert in the Philippines. b. Export sales from the Philippines to Japan. c. An international carrier carrying passengers from US to Philippines. d. None of the choices. 3. Mr. Chris is planning to establish a barber shop. He hired a tax consultant and asked the latter what kind of business registration that he has to comply before the BIR. Mr. Chris anticipates that his receipts for the year is P 3.1M. What would be your advice? a. Optional registration b. Mandatory registration c. OPT of 3% d. Exempt 4. Mr. Chris an entrepreneur has various businesses. The following data pertain to his business for the year 2019: Sales from selling merchandise P 2,300,000 Receipts from restaurant 500,000 Receipts from practice of profession 200,000 Rental receipts – residential units with monthly rental of P 5,000 100,000 How much is the business tax of Mr. Chris? a. P 372,000 b. P 93,000 c. P 90,000 d. P 30,000 5. In 2019, Brian Mcknight, an american citizen, not residing here in the Philippines performed a series of concert in the Philippines. He stayed here for more than 1 week to finish his concert. He received P 3.5M for this concert. What is the tax liability of Brian Mcknight? a. Exempt b. P 300,000 c. P 105,000 d. None of the choices 6. Who is liable for excise on imported goods? a. Custom b. Importer c. Exporter d. None of the choices 7. Mr. Chris, VAT registered, an from exporter of furniture, imports woods China worth P 5M. Can Mr. Chris claim input tax on the said importation? a. No, because he is engaged in export business. b. Yes, being zero rated, he can claim input taxes. c. No, because he is exempt from VAT. d. Yes, because the worth of importation is more than P 3M. 8. Mr. Chris, a professor of National University imported a computer equipment from Japan for his online teaching. The computer is worth P 30,000 (converted already), with custom duties and other charges amounting to P 5,000. Is Mr. Chris liable to business tax and how much? a. Zero, because he is not engaged in business. b. P 4,200, though he is not engaged in business, he must still pay VAT. c. P 3,600 VAT. Custom duties and other charges are not included in the computation. d. Zero, he is exempt because he will use the computer for education purposes. 9. In year 2020, Mr. Chris, VAT registered made an importation of the following: Medicines for diabetes 250,000 Fresh meat and vegetables 300,000 Flowers for his flower shop 100,000 Gadgets for his gadget shop 200,000 How much is the input tax from importation? a. P 120,000 b. P 24,000 c. P 36,000 d. P 66,000 10.Nena, lessor of apartment in Bulacan leased her properties amounting to p 10,000 per month. Her gross receipts for the quarter of the taxable year amount to P 775,000. What is the applicable tax to be paid by Nena? a. She is VAT exempt and income tax exempt. b. She is subject to 3% OPT and income tax. c. She is VAT exempt but subject to income tax. d. She is subject to 3% OPT but not income tax. 11.In 2021, Mr. Chris purchased a residential house and lot from Empire East, a VAT registered subdivision developer amounting to P 1,998,000. What is the tax liability of Chris and how much? a. VAT, 239,760 b. OPT, 59,940 c. Exempt, Zero d. CGT, 119,880 12.Mr. Chris bought processed grocery items and fresh fish and meat from Hypermarket, VAT registered, amounting to P 5,000 and P 2,000 respectively. The supermarket issued a receipt indicating the amount of purchases as well as the VAT amounting to P 600. However, the receipt did not prominently indicate in the receipt the type of VAT. How much is the liability of Supermarket to BIR? a. P 600 b. P 840 c. P 240 d. None 13.Chris Company, VAT registered, had the following transactions for the year 2020: Sale of meat products P 300,000 Sale of processed food P 500,000 Rentals – comm
