1.

For BMBE purposes, the Certificate of Authority shall be affected for a period of _____ and renewable for
the same period. The concerned officer shall indicate in the certificate the date when the registration
of the BMBE commences
a. 1 year c. 3 years
b. 2 years d. 4 years

2. DR. Albert Rebosa, a VAT registered ob-gyne specialist, owns a maternity-lying-in clinic. During the
month, his clinic received payment totaling P750,000, broken down as follows: P350,000 as Dr.
Rebosa’s professional fee: and P400,000 as payment for the use of his maternity lying-in-clinic
facilities. All amounts given are exclusive of the VAT. His output VAT for the month is:
a. P90,000 c. P42,000
b. P48,000 d. P80,357

3. Which of the following statements regarding RA 8525 is correct?

a. “Adopt a School Program” or “Program” shall refer to a program which allows private entities to assist
a publicschool in a particular aspect of its educational program within an agreed period
b. “Public school” shall refer to a government school, whether elementary, secondary, post-secondary or
tertiary, which enters into an Agreement with an adopting private entity concerning assistance to public
schools
c. “Private entity” shall refer to an individual engaged in trade or business or engaged in the practice of
his profession or other business organizations, like a partnership, corporation or cooperative, either
resident or non-resident, who/which teams up with the Department of Education (DepEd), or with the
Commission on Higher Education (CHED), or with the Technical Education and Skills and Development
Authority (TESDA), towards providing much needed assistance and service to public schools
d. All of the above

4. A pre-qualified adopting private entity, which enter into an Agreement with a public school, shall be
entitled to the following tax incentives
a. Deduction from the gross income of the amount of contribution/donate that were actually, directly and
exclusively incurred for the Program in the preceding paragraph, subject to limitations, conditions and
rules set forth in Section 34(H) of such contribution/donation
b. Exemption of the Assistance made by the donor from payment of donor’s tax
c. Both “a” and “b”
d. Neither “a” nor “b”

5. Statement 1: A duly registered and accredited Microfinance NGO under RA 10693 shall pay a two
percent tax based on its gross receipts from microfinance operations in lieu of all national taxes
Statement 2: The preferential rate of two percent tax should only refer to lending activities and insurance
commission which are bundled and forming integral part of the qualified lending activities of the
Microfinance NGO
Statement 3: All microfinance activities other than lending and insurance commission which are bundled
and forming integral part of the qualified lending activities of the Microfinance NGO shall be subject to all
applicable to taxes
a. Only statement 1 is correct
b. Only statement 1 and 2 are correct
c. Only statement 1 and 3 are correct
d. All statements are correct

6. Statement 1: Microfinance NGOs are NGOs with the primary purpose of implementing a
microenterprise development strategy and providing microfinance programs, products and services
for the poor
Statement 2: Microfinance NGOs are prohibited from directly engaging in the insurance business
a. Only statement 1 is correct
b. Only statement 2 is correct
c. Both statements are correct

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 d. Both statements are incorrect

7. As provided by the Tax Code, the chief officials of the BIR shall be composed of
a. 1 Commissioner and 4 Deputy Commissioners
b. 1 Commissioner and 5 Deputy Commissioners
c. 1 Commissioner, 2 Assistant Commissioners and 2 Deputy Commissioners
d. 1 Commissioner and 7 Deputy Commissioners

8. The following are agents and deputies for collection of Natural Internal Revenue taxes, except:
a. The commissioner of Customs and his subordinates with respect to the collection of national Internal
Revenue Taxes on imported goods
b. The head of the appropriate government office and his subordinates with respect to the collection of
energy tax
c. Banks duly accredited by the commissioner with respect to receipts of payments of internal revenue
taxes authorized be made thru banks
d. City treasurer with regard to collection real estate tax

9. The primary purpose of ______ is commonly stated or understood to be “for the avoidance of double
taxation” of income arising from cross-border transactions or “for the purpose of avoiding
simultaneous taxation in two different jurisdictions”.
a. Reciprocity
b. Tax treaty
c. Double taxation
d. None of the above

10. Which of the following are methods used to eliminate or mitigate the effect of indirect double
taxation?
a. Tax exemption (i.e., based on treaties)
b. Tax credit (i.e., deductible from tax due)
c. Deduction from the base
d. All of the above

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