Basic Tax
How much is the current regular income tax rate for corporations?
25%
When was the effectivity of the new invoicing requirements under EOPT?
April 27, 2024
This is the tax withheld or deducted at the source of income by the payer or withholding agents and is directly remitted to the government on behalf of the taxpayers.
Withholding Tax
How many days are normally given to taxpayers to provide the requested documents in the checklist of requirements attached to the LOA?
10 days
Who is the current Philippine President?
Ferdinand Marcos Jr.
Bongbong Marcos
BBM
PBBM
What is the valid supporting document for the purchase of goods before EOPTA?
Invoice
This new law aims to simplify procedures and reduce taxpayer burdens while consequently boosting government revenue collection.
Ease of Paying Taxes Act
EOPTA
RA No. 11976
What return do I normally file on the 5th day following the end of month for any taxable documents that I have?
DST Return
BIR Form 2000
When is the filing deadline for Quarterly Withholding Tax returns for Q3 2024?
October 31, 2024
Who is the BIR Commissioner?
Romeo D. Lumagui Jr.
Jun Lumagui
What BIR document grants authority to the BIR to examine the taxpayer’s books and records
Letter of Authority
LOA
This law was signed by PRRD last March 26, 2021 which aims to lower the current income tax rate from 30% to 25%.
CREATE Law
RA No. 11534
What comes after PAN?
FAN/FLD
GBGTC received a PAN for its 2021 VAT Audit. Within how many days should GBGTC respond to the BIR?
15 days
Aside from the taxpayer under audit and the signing Asst CIR or RDO. Who is/are usually indicated in the body of the LOA?
Handling BIR Examiner
Revenue Officers and Group Supervisor
True or False?
Tax exemptions are strictly construed against the government and liberally in favor to the taxpayer.
FALSE
When was EOPT Law signed?
January 5, 2024
This is a plea for re-evaluation of an existing assessment on the basis of existing records without the need for additional pieces of evidence.
Request for Reconsideration
After the Discussion of Discrepancy, within how many days will the BIR issue a PAN?
10 days
Who is the current head of the Tax Group of San Miguel Group?
Rogelio Lui
Sir Lui
SMFI sold frozen simple marinated chicken (salt and pepper only) at SM Supermarkets. How much is the VAT rate?
None
VAT Exempt
Yesterday, PBBM signed a new Law. What was this LAW?
Republic Act (RA) No. 12023
VAT on Digital Service Providers
The CIR denied my protest to the FAN/FLD and issued an FDDA. What will I do?
File a Petition for Review before the CTA
(Judicial Petition)
GFMI filed a Request for Reinvestigation for the FLD/FAN dated July 29, 2024, received by GFMI last August 8, 2024, last September 4, 2024. Within how many days should GFMI present additional evidence or documents to the BIR?
Within 60 days from September 4, 2024
or Until November 3, 2024
In case the BIR issued an FDDA and the audit proceeded to due process. Who has the ultimate power to provide the final decision on the case?
Supreme Court
CTA