Members:

Dalita, Tommy Dullano, Viah Novah

Durango, Missy Roldan, Liana
Go, Jasmine Villarmea, Trishia

1. Why the State needs to raise funds and revenues?

Funds and revenues are necessary to invest in progress, relieve poverty, deliver
public services, and develop the required physical and social infrastructure to enhance
long-term progress. The growth of revenue and funds becomes the economic growth
that will probably increase government services. To provide these services and goods,
the states need to manage their finances, raise funds, and revenues.

2. Who can be the objects of taxation?

a. Person
i. Natural person
ii. Juridical person
b. Properties
i. Real Properties (house, land)
ii. Tangible Properties (cars)
iii. Intangible Properties (trademarks, patents, copyright)
c. Excise Objects
i. Transactions
ii. Privilege
iii. Right
iv. Interest

3. Can a law allow taxes to be paid either in cash or in kind? Justify.

Yes, it is valid that the law allows taxes to be paid in cash or in kind. No law
stipulates that taxpayers should pay taxes in money alone. A law enabling in-kind
payment, on the other hand, could lead to valuation issues and breach the principle of
administrative feasibility. When a taxpayer's financial situation demonstrates an
incapacity to pay the tax, the Bureau of Internal Revenue may legitimately compromise
the tax liability.