Multiple Choice – Problems Part 1 1. Grace is a proprie proprietor tor of a mini-store mini-store with with sales in any 12-month 12-month period not exceeding P1,900,000. She shall pay a. percen percentag tage e tax tax b. !" c. excise cise tax d. percenta percentage ge tax tax and and exci excise se tax tax 2. "ony, a !" !"-registered -registered taxpayer, reported P200,000 P200,000 sales in the month of #ay. "ony$s ann%al sales ne&er exceeded P1,'00,000. (omp%te "ony$s percentage tax a. 0 b. )000 c. 2*000 d. +*000 . onnel, a non- non-!" registered registered operator of eepney, eepney, reported reported a total receipt of P200,000 d%ring a month, incl%ding P20,000 rentals for cargo transport. (omp%te the percentage tax. a. 0 b. +*00 c. 6000 d. ))00 *. #r. #r. /gina owns and and operated operated a taxi %nit. %nit. e also teaches teaches as an acco%nting professor the ni&ersity of ag%io and renders taxation ad&isory ser&ices to &ario%s clients. #r. #r. /gina is registered as a !"-taxpayer. 3n #arch 201+, he had the following receipts4 (ompensation income-teaching 200,000 5eceipts from taxi +0,000 5eceipts from professional professiona l practice +0,000 "otal "otal )00,000 (omp%te for the percentage tax payable of #r. /gina for #arch 201+. a. 0 b. 1500 c. 12000 d. 1'000 +. 3n the immediately immediately precee preceeding ding problem, problem, comp%te comp%te the total receipts of #r. /gina s%bect to the th e !" !". a. 0 b. 350, 350,00 000 0 c. *00,000 d. ++0,000
). #ichael 6ac7son is an operator of a 8eet of 10 taxis operated %nder the bo%ndary system:. ! total of P1+0,000 bo%ndary: payments from cha%;e%rs were recei&ed in 6%ly 201+. ! total of P20,000 is still recei&able from cha%;ers for family ad&ances. "he percentage tax for the month is a. )0 b. )00 c. 4500 d. +100 <. #r. Pogi-it practices his profession as a medical practitioner. e registered as !" taxpayer. #rs. Pogi-it is n%rse employed by a p%blic hospital. =hich statement is correct> a. mr. pogi-it shll pay percentage tax b. mrs. pogi-it shall pay percentage tax c. mrs. pogi-it is exempt from b%siness tax d. mr. pogi-it is exempt from b%siness tax '. "here are two competing 7eepers of garage with the following receipts4 Parcorito P1,200,000 Par7od%m P2,+00,000 =hich will pay ? percentage tax> a. Parcorito b. Par7od%m c. Both d. /one of them 9. #r. (onner has two taxis which were both gro%nded d%ring the month of @ebr%ary 201* beca%se of technical problem. "he applicable pres%mpti&e A%arterly gross receipt for each taxi was P,)00. (omp%te the percentage tax d%e for @ebr%ary 201*. a. 0 b. <2 c. 10 d. 21) 10. #r. @ran7 Sinatra owns a cargo tr%c7 for rent. %ring the month, it generated a total receipt of P*0,000 from &ario%s clients. "he percentage tax is a. 0 b. 1!00 c. 2000 d. *'00 11. #r. 6ac7son #ichael is an operator of fo%r b%ses playing the ro%te ag%io-#anila. %ring /o&ember 201*, the b%ses remitted a total of P20,000 incl%ding P0,000 freight and charges for the passenger baggage and mails. (omp%te #ichael$s percentage tax if he is registered as a non-!" taxpayer.
a. b. c. d.
0 '<00 9)00 10+00 12. 3n the immediately preceding problem, comp%te the percentage tax if #r. #ichael is a !"-registered taxpayer. a. 0 b. "00 c. 9)00 d. 10+00 1. (agayan @erry oats transport passengers and cargoes between the island of Pala%i and Sta. !na. 3t earned a total of P120,000 on #arch 201+ excl%ding P10,000 freight for cargoes. =hat is the percentage tax if (agayan @erry oat is registered as a non-!" taxpayer and a !"-taxpayer, respecti&ely a. 0B 0 b. )00B 0 c. 900B )00 #. 3$00% 0 1*. Ca&eDares @erries transport passengers and land &ehicles between Samar and Sorsogon. Ca&eDares %s%ally had an a&erage ann%al receipts of P+,000,000. %ring the month, it earned a total of P*00,000 from the c%stomers. "he percentage tax is a. 0 b. 12000 c. 1'000 d. 1+0000 1+. !n operator of care for hire with cha%;e%r had the following Enancial res%lts of operations d%ring a month4 "otal collections 2*0,000 Cess4 @%el 100,000 Fther car s%pplies 2*,000 ri&er salaries 20,000 /et income 9),000 =hat is the percentage tax> a. !0 b. *200 c. *20 d. <200 1). !/#3 is a local water district with ann%al sales exceeding P10# a year. %ring the month, it collected P*,000,000 from sales of water. (omp%te the percentage tax. a. 0 b. 0000 c. 120000
d. 200000 1<. 5adyo olero had an ann%al sales not exceeding P10# a year. %ring the month, it posted re&en%e of P2,000,000 o%t of which P1,'00,000 is collected. (omp%te the percentage tax. a. 0 b. )000 c. 54000 d. )0000
Multiple Choice – Problems Part ! 1. 5egga "ransporters, a transportation contractor, transport employees of %ro "extiles 3nd%stries to and from (agayan de Fro (ity to a distant factory plant in 3mpas%g-ong, %7idnon. 3n #arch, 5egga "ransporters was paid P00,000 by %ro "extile 3nd%stries. "he percentage tax is a. 0 b. $000 c. 12000 d. )000 2. /apartas is a transportation contractor of aring Padala, a mail co%rier company. /apartas (ompany deli&ers the mails to adresee location speciEed in the mail. %ring the month, /apartas (ompany was paid P*00,000 by aring Padala. "he percentage tax is a. 0 b. 12000 c. 2*000 d. *'000 . #alaysian irdia, an international air carrier, collected a total of P0,000,000 from transport of passengers d%ring the month. 3t also collected total of P+,000,000 from transport of mails and baggage. (omp%te for the percentage tax. a. 0 b. 150000 c. 900000 d. 10+0000 *. P%ro-!ir is a domestic airliner with ann%al receipts exceeding P+0,000,000. %ring a month, it generated the following receipt4 Passengers +,000,000 (argoes and baggage 1,+00,000 "otal ),+00,000 "he percentage tax is a. 0
b. *+000 c. 1+0000 d. 19+000 +. %ropean Seag%ll, an international shipping carrier, had the following receipts on its Philippine operations4 Gross receipts froms4 Passengers aggage "otal 3ncoming &oyage 2,000,000 1,+00,000 ,+00,000 F%tgoing &oyage ,000,000 1,'00,000 *,'00,000 "otal +,000,000 ,00,000 ',00,000 ow m%ch is the percentage tax> a. 0 b. 54000 c. 99000 d. 1**000 ). !merican aw7, an international air carrier, recorded the following taxable receipts d%ring a month for o%tgoing 8ights4 Philippines !broad "otal Passengers 2,000,000 ,000,000 +,000,000 #ails and aggage +00,000 1,200,000 1,<00,000 "otal 2,+00,000 *,<00,000 ),<00,000 (omp%te for the percentage tax. a. 1+000 b. 51000 c. )0000 d. <+000 <. @ 3ns%rance (orporation has the following receipts and recei&ables from its ins%rance prod%cts4 Cife Property "otal (ash and chec7 collections 1,000,000 +00,000 1,+00,000 Promissory notes 200,000 100,000 00,000 "otal 1,200,000 )00,000 1,'00,000 (omp%te for the premi%ms tax. a. 20,000 b. !4,000 c. 0,000 d. ),000 '. %llion an7 reported the following receipts d%ring the month4 3nterest 3ncome4 1 to year loan 1,200,000 to + year loan '00,000 ) to ' year old )00,000 ' to 10 year loan *00,000 "otal ,000,000 (omp%te for the gross receipt tax.
a. 100,000 b. 110,000 c. '0,000 d. <0,000 9. ent%re an7 had the following s%mmaries of receipts4 3nterest income on short term loans 2,000,000 3nterest income on long term loans 1,000,000 5ent income on 5FPF! '0,000 Ser&ices fees and gains 200,000 "otal *,000,000 ow m%ch is the gross receipts tax> a. 220,000 b. 200,000 c. 10,000 d. 1)0,000 10. ! A%asi-ban7 recei&es the following from its short term placement of excess f%nds4 i&idend income +00,000 an7 interest income, net of Enal tax '00,000 "otal 1,00,000 (omp%te for the gross receipts tax. a. 0 b. *0000 c. 50000 d. 91000 11. ! cell%lar company had the following receipts4 2,000,000 from domestic calls ,000,000 incoming calls to the Philippines 2,+00,000 o%tgoing calls abroad =hat is the percentage tax> a. 0 b. <+000 c. 1)+000 #. !50000 12. oy #ano7 is an operator of coc7pit. %ring the A%arter, it collected P200,000 from gate receipts, P2*0,000 from tongs and P00,000 from b%siness concessionaires inside the coc7pits. "otal winning on derby sets totaled P2,*00,000. =hat is the am%sement tax> a. 0 b. <*000 c. 111000 #. 133!00 1. orneo (orporation, a p%blicly listed company, is planning to increase its p%blic ownership by iss%ing additional 1,000,000
shares for P10 per share. "he new shares will increase the o%tstanding shares of orneo to 2,+00,000. (omp%te for the 3PF tax. a. 0 b. 100,000 c. 200,000 d. *00,000 1*. 3n a recently completed race, Sta. !na ippodrome noted the following winning tic7ets4 Straight bets H P*0,000, 20 tic7et at P100 per tic7et (ombination bets H P20,000, 2 tic7ets at P200 per tic7et (omp%te the percentage tax to be withheld on the winnings. a. 0 b. '00 c. 454 d. +<)0 1+. #r. #agno owns 1,000,000 shares representing *0? of the o%tstanding stoc7es of (alatna (orporation, a closely held corporation, which is cond%cting an initial p%blic o;ering. #r. #agno sold <00,00 shares d%ring the initial p%blic o;ering for P100 per share. (omp%te the 3PF tax d%e from #r. #agno. a. +0000 b. <00000 c. 1400000 d. 2'00000 1). !ss%ming f%rther that #r. #agno sold his remaining 00,000 shareholdings after the 3PF for P90 per share, comp%te the 3PF tax. a. 135000 b. 2<0000 c. +*0000 d. 10'0000 1<. elix (ompany is cond%cting an initial p%blic o;ering of 2,000,000 shares. elix (ompany already had *,000,000 iss%ed and o%tstanding shares. "he new 3PF shares shall be sold a P per share. =hat is the tax on the initial p%blic o;ering> a. 0 b. )0000 c. 1!0000 d. 2*0000 1'. Gene&a (orporation, a non-!" taxpayer, leases commercial spaces to &ario%s b%sinesses. %ring a month, it recei&d P1*2,+00 rentals, net of +? creditable withholding tax. (omp%te for the percentage tax. a. 0
b. *0)1 c. *2<+ #. 4500 19. !lmendras (orporation sells bread to &ario%s stores and ma7es P1+0,000 monthly sales on the a&erage. %ring the month it made total sales of P200,000 o%t of the which only P1)0,000 were collected. (omp%te the percentage tax. a. 0 b. *+00 c. *'00 #. 6000
