Statement I – A taxpayer who is tax deficiency shall be imposed a…
Question Answered step-by-step Statement I – A taxpayer who is tax deficiency shall be imposed a… Statement I – A taxpayer who is tax deficiency shall be imposed a 25% penalty plus 12% interest on his deficiency tax.Statement II – Distraint is an extrajudicial remedy in the enforcement of taxes which is effected by the seizure of goods or chattels of the taxpayer a. Only Statement II is true.b. Only Statement I is true.c. Both statements are false.d. Both statements are true. Statement I – A taxpayer who bloated his expenses by 30% is presumed guilty of substantial overstatement and shall be penalized by an amount of 50% of the basic tax for filing a fraudulent return. This is also one of the indicator of “Oplan Kandado”.Statement II -The income tax payable maybe paid in installment. a. Both statements are true.b. Only Statement I is true.c. Only Statement II is true.d. Both statements are false. Law Social Science Tax law TAXATION INCOMETAXA Share QuestionEmailCopy link Comments (0)


