A.

1. If you are to choose a business what would it be?. Cite at least 2 possible tax implications?

2. What can you say about tax remedies?

3. What is SAVANT?

MCQ

The following pertains to the positive impact of tax planning: *

A) It requires through knowledge of the relevant acts, social, economic and political situation of the country.

B) Taxpayer enjoys his fruits freely and he doesn't suffer from his blood pressure.

C) It helps in economic development of the country by providing additional funds for investment in desired channels.

D) All of the above.

Types of Tax Planning are: *

A) Long range and short-range planning

B) Permissive Planning

C) Purposive Planning

D) All of the above

Planning should be done by keeping the following factors in mind except: *

A) Planning should be done after the accrual of income

B) Should be resorted at the source of income

C) Choice of an organization or entity

D) Status of a person.

These are some causes of tax evasion except *

A) Tax pressure - high tax rates.

B) Possibility of failing to comply without greater risks

C) Lack of citizen's tax integrity.

D) None of the above.

The new business registrant officer will release the following except: *

A) Notice to Issue Receipts

B) Notice To Issue Invoice Receipts

C) Distribute BIR Form 1901 or 1903

D) Certificate of Registration