11. Cite the differences in the tax remedies with respect to national taxes as provided by...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
11. Cite the differences in the tax remedies with respect to national taxes as provided by the National Internal Revenue Code and those that are available under the Local Government Code as regards local taxes. 12. What is the Court of Tax Appeals? 13. Slap, a businessman who evades his taxes whenever he can, was eventually caught by the long arms of the law. He intentionally did not file any income tax return for the calendar year 2021. The vigilant revenue officers of the Bureau notified him of his failure to file said return and demanded payment on August 1, 2022. The tax due per return is P2,500,000. Slap, however, managed to pay the tax only on November 31, 2023. How much is Slap's total liability, including surcharges, interest and other penalties? 14. Timeline showing the remedies available to the government and the taxpayer in the proper order that they may be availed of. 11. Cite the differences in the tax remedies with respect to national taxes as provided by the National Internal Revenue Code and those that are available under the Local Government Code as regards local taxes. 12. What is the Court of Tax Appeals? 13. Slap, a businessman who evades his taxes whenever he can, was eventually caught by the long arms of the law. He intentionally did not file any income tax return for the calendar year 2021. The vigilant revenue officers of the Bureau notified him of his failure to file said return and demanded payment on August 1, 2022. The tax due per return is P2,500,000. Slap, however, managed to pay the tax only on November 31, 2023. How much is Slap's total liability, including surcharges, interest and other penalties? 14. Timeline showing the remedies available to the government and the taxpayer in the proper order that they may be availed of.
Expert Answer:
Answer rating: 100% (QA)
11 The National Internal Revenue Code NIRC and the Local Government Code LGC provide different tax remedies with respect to national and local taxes respectively Here are some key differences NIRC Nat... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
Students also viewed these law questions
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
Wilson Publishing Company produces books for the retail market. Demand for a current book is expected to occur at a constant annual rate of 7200 copies. The cost of one copy of the book is $14.50....
-
In 2015, Lisa and Fred, a married couple, have taxable income of $300,000. If they were to file separate tax returns, Lisa would have reported taxable income of $125,000 and Fred would have reported...
-
Powell Street Electronics has provided the following information for February: Sales revenue. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 807,000 Store rent . . . . . . ....
-
Why should operations be described by verbs?
-
Two square conducting plates with sides of length L are separated. By a distance D. A dielectric slab with constant K with dimensions L X L X D is inserted a distance x into the space between the...
-
1.Give one reason why an investor may decide to exercise an in-the-money call option rather than sell it.
-
Complete the payroll register for this pay period and update the Employee Earnings Record form for each employee with the corresponding information. The Step-2 of Form W-4 is unchecked. The amount...
-
A particular class consists of 25 football players, 6 baseball players, 4 basketball players and 2 badminton players. Two students from each sport are to be selected for a sports meeting. In how many...
-
A settlement was constituted by deed in 1 9 6 8 . Curtis and Mrs . Curtis were the trustees and the trusts were discretionary trusts in favour of their children and remoter issue. The trustees were...
-
Oslo Company prepared the following contribution format income statement based on a sales volume of 1 , 0 0 0 units ( the relevant range of production is 5 0 0 units to 1 , 5 0 0 units ) : Sales $ 2...
-
A contribution income statement for the Nantucket Inn is shown below. ( Ignore income taxes. ) Revenue $ 5 3 6 , 0 0 0 Less: Variable expenses 3 2 1 , 6 0 0 Contribution margin $ 2 1 4 , 4 0 0 0...
-
Salesforce's quarterly report for the quarter ending 10/31/2022 showed the following: Shares outstanding: 1.000 B Total assets: $95,209 M Total liabilities: $37,078 M Salesforce's closing share price...
-
To gain insight into this company's recent business performance you should (1) Analyze Boeing's most recent financial statements and ratios from Net Advantage Legacy, and (2) Review the MARKETLINE...
-
You are to examine and discuss about Just In Time( JIT) system that Toyota have adopted to reduce/control their operating costs and to achieve their profitability and non-financial objective. Give an...
-
Which should drive action planning more, strengths or weaknesses? That is, is it more important to build on your strengths or to reduce your weaknesses? Explain.
-
Larry Gaines, age 42, sells his personal residence on November 12, 2012, for $144,000. He lived in the house for 7 years. The expenses of the sale are $10,500, and he has made capital improvements of...
-
Teresa is a civil engineer who uses her automobile for business. Teresa drove her automobile a total of 21,732 miles during 2012, of which 95 percent was business mileage. The actual cost of...
-
Mike sells his home to Jane on April 2, 2012. Jane pays the property taxes covering the full calendar year in October, which amount to $2,500. How much may Mike and Jane each deduct for property...
-
If you make multiple measurements of your height, you are likely to find that the results vary by nearly half an inch in either direction due to measurement error and actual variations in he ight....
-
Migrating geese tend to travel at approximately constant speed, flying in segments that are straight lines. A goose flies 32 km south, then turns to fly 20 km west. Afterward, how far is the goose...
-
Estimate the average speed, in m/s, with which the hair on your head grows. Make this estimate from your own experience noting, for instance, how often you cut your hair and how much you trim....
Study smarter with the SolutionInn App