1. X Company is renting its office space.

Which BIR form should X Company give to the lessor as proof

of remittances of expanded withholding on its rent payment?
A. 2307 B. 0619E C. 1601C D. 0605

2. The following are creditable withholding tax returns, except

A. 0619E B. 0619F C. 1601C D. 1601EQ

3. The following are monthly remittance form, except

A. 1601C B. 0619F C. 0619E D. 0605

4. Which of the following is Ad valorem excise tax?

a. P10 per ton of mineral
b. P 50 per piece of cigar
c. P10 per P500 retail price of alcohol
d. P500 for every 1,000 liters of petroleum

5. The withholding reported in form 2307 issued to income earner is creditable against tax due in the
following ITRs, except
a. 1700 b. 1701 c. 1702 d. 1701Q

6. Which of the following is not income?

a. Return on capital c. Gift received
b. Gross profit d. Interest received on bank deposit

7. The following are income, except

a. Increase net worth c. Sale of inventory at price higher than cost
b. Return of capital d. Sale of investment at a price higher than cost

8. At the start of the year, the taxpayer received devise of P500,000. During the year, he collected
P300,000 as rent from the property received. His gross income for the year from the total amount of
P800,000 received is
a. 800,000 b. 500,000 c. 300,000 d. none

9. The following can opt for fiscal year tax period, except
A. Sole proprietorship C. Domestic corporation
B. General commercial partnership D. None of these

10. The following are taxed only with Philippine income tax on its income earned within, except
a. Resident foreign corp
b. Foreign owner of aircraft not engaged in business in the Philippines
c. Subsidiary of foreign corporation created under Philippine Laws
d. Regional operating headquarter established in the Philippines by multinational corp.

11. The following are required to file its returnable income in 1702Q, except
a. Trust c. Domestic corporation
b. general professional Partnership d. Resident foreign corporation

12. If the taxpayer has taxable compensation income and earned professional fee net of creditable
withholding tax, in what ITR should he report his taxable income?
a. 1700 b.1701 c. 1702 d. Both in 1700 and 1701
13. The main information reported in 1700 ITR is taken from this form issued by the employer
a. 1604C b. 2303 c. 2307 d. 2316

14. The deadline for filing of the 1 quarter 1701Q is

a. January 31 of the current year
b. March 01 of the current year
c. April 15 of the current year
d. May 15 of the current year

15. The deadline for filing of the 3rd quarter 1701Q is

a. Sept 15 of the current year
b. October 15 of the current year
c. Nov. 15 of the current year
d. Dec. 15 of the current year

16. The deadline for filing ITR 1700 is

a. January 31 of the following year
b. March 01 of the following year
c. April 15 of the following year
d. May 15 of the following year

17. When should an individual income taxpayer file his annual or consolidated return 1701 for the
year 2022 to avoid penalty for delay?
a. April 15, 2022
b. On the 4th month following the end of the taxable year
c. April 15, 2023
d. 15th day of the 3rd month following the taxable year of the taxpayer

18. The corporate first quarter 1702Q declaration shall be filed

a. April 15 of the month following the close of first quarter
b. within sixty (60) days following the close of the first quarter
c. May 15 of the month following the close of first quarter
d. within sixty (15) days following the close of the first quarter

19. Which of the following is returnable in form ITR 1700 along with other taxable compensation
income?
A. Professional fee earned within
B. Sales commission earned by an independent distributor
C. Housing allowance of marketing manager
D. monetized vacation leave earned in excess of 10 days

20. Which of the following, if the only income earned is not reportable in the ITR 1701?
a. Income withheld with creditable withholding tax
b. Income withheld with expanded withholding tax
c. Taxable Above minimum compensation income
d. Business income of resident citizen earned outside the Philippines

21. The final adjustment 1702 return of domestic corp. which opted for fiscal year as taxable period
shall be filed on or before the fifteenth (15th) day
a. of the fourth (4th) month following the close of the calendar year,
b. of April of the year following the taxable year
c. of March of the year following the taxable year
d. of the fourth (4th) month following the close of the fiscal year
22. Which of the following is not subject to Internal Revenue Tax?
A. donation received
B. inheritance received
C. income from casual employment as domestic helper
D. return of insurance premium in excess of actual amount contributed

23. The beneficiary upon death of the insured received P1,000,000 proceeds from insurance policy where
the P200,000 total accumulated premiums was paid. If the beneficiary is the payor of the insurance
premium, his gross income from the amount received is
a. 1,000,000 b. 800,000 c. 200,000 d. NONE

24. The following are the several forms of compensation income, except
a. Night shift differential
b. Hazard pay
c. Separation pay
d. Royalty income passive income

25. For income taxation, which of the following is taxable compensation income?
a. Share based compensation
b. compensation for moral damages
c. professional fee received from client
d. compensation for physical injury

26. In addition to basic pay of P25,000 per month which is within the minimum wage salary, the minimum
wage earner is receiving regular laundry allowance of P500/month.
How much of his monthly compensation is exempt from income tax?
A. 25,000 B. 25,300 C. 25,500 D. none

27. A resident citizen earned P350,000 gross compensation from employment, inclusive of basic
minimum wage of P250,000 and P25,000 13th month pay + similar benefits of P25,000 for year 2023.
How much is the non-taxable income?
a. 420,000 b.350,000 c. 300,000 d. 50,000 C

28. If the take home pay from employment for the quarter is P225,000 after deducting P50,000 SSS
contribution and P25,000 withholding tax, how much is the gross taxable compensation income?
a. 300,000 b. 250,000 с. 275,000 d. 225,000

29. The employee who is receiving above minimum wage, received P244,800, inclusive of P30,000
13th month pay, and net of P90,000 withholding tax and P25,200 555 due.
His taxable Income is
a. 304,800 b. 330,000 c. 360,000 d. 344,80

30. From the above minimum gross compensation income of P600,000, the following deductions were
made:
SSS and Phil health dues 25,000
Union dues 15,000
Creditable withholding tax 60,000
Included in the P600,000 gross income is P50,000 holiday pay.
How much is the taxable portion of the income returnable in the ITR?
a. 600,000 b. 560,000 c. 500,000 d. none
GIVEN INFO:

PHILIPPINES FOREIGN COUNTRIES

Sales P4,000,000 P6,000,000

Income from Sales 1,200,000 2,000,000
Donation 120,000 200,000

31. If the taxpayer is resident citizen, the amount to be reportable in his 2550Q is
a. 10,000,000 b. 4,000,000 c. 3,200,000 d. 1,200,000 D

32. If the taxpayer is resident alien, the amount reportable in his 1701 is
a. 10,000,000 b. 4,000,000 c. 3,200,000 d. 1,200,000

33. If the taxpayer is non-resident citizen, the amount reportable in his 1800 is
a. 3,200,000 b. 1,200,000 c. 320,000 d. 120,000

34. If the taxpayer is domestic corporation, the amount reportable in its 1702 is
a. 10,000,000 b. 4,000,000 c. 3,200,000 d. 1,200,000

35. If the taxpayer is foreign corporation, the amount reportable in its 1702 is
a. 4,000,000 b. 3,200,000 c. 1,200,000 d. none