SAMPLE BAR Qs- MCQ (TAXATION LAW)1.) Fringe Benefit Tax is payable by theA. EmployeeB. DonorC. EmployerD. Beneficiary

2.) The following can claim for a tax credit, exceptA. CitizenB. Beneficiary of an estate or trustC. Member of a General Professional PartnershipD. Foreign corporation

3.) Optional Standard Deduction is applicable to all individuals exceptA. Resident AliensB. Non-resident aliensC. Resident CitizensD. Non-resident Citizen

4.) A fringe benefit may be subjectto fringe benefit tax if received byA. any employeeB. rank and file employeesC. managerial employeesD. Stockholders

5.) A laundry allowance of P300 per month is an example ofA. fringe benefitB. allowanceC. tax benefitD. de minimis benefit

6.)Which ofthe following forms part of the stages of taxation?A. payment and filingB. filing and collectionC. withholding and levyingD. assessment and payment7.) Any good, service or other benefit furnished or granted in cash or in kind by an employer to an individual employee refers toA. de minimis benefitB. company benefitC. fringe benefitD. annuity

8.) Fringe benefit tax is imposed on the fringe benefit'sA. fair market valueB. actual monetary valueC. grossed-up monetary valueD. assessed value

9.) The following fringe benefits are not taxable exceptA. fringe benefits which are authorized and exempted from tax under special lawsB. life or health insurance and other non-life insurance premiums or similar amounts in excess of what the law allowsC. benefits given to the rank and file employees, whether granted under a collective bargaining agreement or notD. de minimis benefits

10.) Deductions from gross income are not allowed to taxpayers earning compensation income arising from personal services rendered under an employer-employee relationship, exceptA. bad debtsB. ordinary and necessary trade, business or professional expensesC. charitable and other contributionsD. premium payments on health and/or hospitalization insurance of an individual taxpayer

11.) X is a Braziliancitizen working as a host and model in a local television show herein the Philippines. X is therefore taxable as aA. non resident alien engaged in trade or businessB. resident alienC. foreign citizenD. resident citizen

12.) The following dividends are taxable exceptA. property dividendsB. liquidating dividendsC. cash dividendsD. stock dividends

13.) Under the tax code, the following are income taxpayers, except:

a. GOCCb. Estate and Trustc. Min wage income earnersd. non-resident foreign corp.

Answers: 1.) C 2.) D 3.) B 4.) C 5.) D 6.) D 7.) C 8.) C 9.) B 10.) D 11.) B 12.) B 13.) c