Statement I - Protest to the CTA on the decisions of the Bureau of Internal Revenue should be made within 30 days from the receipt of the decision

Statement II - Appeal to the court tax Appeals on a claim for refund of excessive tax paid must be made within two years from the date of payment.

a. Only Statement I is true.

b. Only Statement II is true.

c. Both statements are false.

d. Both statements are true.

Statement I - A penalty of 25% shall be imposed upon a taxpayer who fails to file his income tax return on time.

Statement II - A penalty of 25% shall be imposed upon a taxpayer who fails to pay his income tax return on time.

a. Both statements are true.

b. Only Statement I is true.

c. Both statements are false.

d. Only Statement II is true.

Answer rating: 100% (QA)

The detailed answer for the above question is provided below d Both statements are tru... View the full answer