' MMMM, ~ CPA Review School of the Philippines Manila October 2018 ; , DO Dela Cruz TREES We ave ae an ree nano eee ae ie ine of the Board of Assessors peed | -{Statement 2 — No injunction by court will lie against real property tax collection by the local government ‘a True, true b. True, false co, False, true @ False, false 2 Statement 1 ~ Local tax relief or exemption is granted in cases of natural calamities, civil disturbances, ‘general failure of crops or adverse economic conditions which substantially decreases prices vi — Local tax incentives .are granted only to new investments in the locality . true b, True, filse c. False, true d. False, false es By |: The proceeds from the additional two percent (2%) tax on real property accruing to the Fund (SEF) shall be automatically released to the local school boards. ‘The proceeds of the additional real property tax on idle lands shall accrue to the respective ‘of the province or city where the land is located. e, true b, True, false [€1False, true d. False, false shall be released, without need of any further action, directly to the Barangay within _ after the end of each quarter and shall not be subject to any lien or o.4 days ‘province, city, or a municipality within MMA, may levy and collect an annual tax of one al property, which shall be in addition to the real property tax. ly accrue to the special education fund. False, true d. False, false ila Area, the thirty-five percent (35%) shall tan manila authority. i ia places bani room 2s) shal oreo u Merion ne, bey pet cal u ipality where the property is located lian Manila Afea, the 30%) shall be Atea, the thirty percent ( he munici the property is located in the84 ‘The failure of the taxpayer to pay tax due on the date fixed by law or indicated in the assessment not ing is incorrect regarding distribution of proceeds? Bln the case of provinces, forty percent (40%) shall acerue to the general fund of the province. ~ D. In the case of cites, seventy percent (70%) shall accrue to the general fund of the city; and ~/PInithe case of provinces, forty percent (40%) shall accrue to the general fund of the municipality where the property is located 4. In the case of provinces, twenty-five percent (25%) shall accrue to the Barangay where the property is located * Her 10, Christian Marcelino has paid/a real property tax of Php5,000 for his residential house and lot located at Bray. Dolores, Taytay, ‘Which of the following is correct with regards to the distribution of proceeds? ‘2 Php3,000 will accrue to the general fund of the municipality where the property is located ' Phpl,500 will accrue to the Barangay where the property is located «. Php3,500 will accrue to the genéral fund of the city ‘WP Hp1,750 will accruc to the general fund of the province + SANG AUNiZET 11. Which of the following js trie? ...\0é\ am, bay upe e4e ‘Statement 1 The promenteiy oe paar Bere stall provide the necessary appropriations to defray ) the expenses incident to the general revision of real property ssment. ‘Statement IL. Ali expenses incident to the general revision of real property assessment shall, by ordinance ? 9. Which of the follows Es » of the Sangguniang Panlalawigan, be incurred bs on the basis of the taxable are of the ‘municipality concemed. Shui! he qgnwtOes bho “Oday a. Both statements are true ¢, Only Statement Lis true ‘BEBoth statements are false . Only Statement Il is true 12. Which of the following is tve? Statement 1 Ali court actions, criminal or civil, instituted at the instance of the provincial, city or © ‘municipal treasurer or assessor under the provisions of this Code, shall be exempt from the payment of court riffs fees) ve Ga All certificates, documents, and papers covering the sale of délinquent property to the province, city or municipality, if registered in the Registry of Property, shalt be exenipt from the registration fees (Grtony) Stee eccips a Statements are true Bialy ‘Statement 1 is true I , Both statements are false Only Statement IL is true 13, Who among the following has the authority to condore or reduce.real property tex and interest? a. The Provincial, City or Municipal Assessor c. Sangyuaiang Panlalawigan [PiPresident of the Philippines only d. Nene of the above ees ‘of crops or substantial decrease in the price of agricultural or agribased products, or provinee, city, of lity, ‘hea will the coridonatioa or reduction of real ‘taxes and interest take eff? eb ‘a. Within 6 months of such incident jg)For the siesocding year or years 'b, Within 3 months of such incident fe 15. Whose duty is it to (aisle provincial, city or tnunicipal assessor sai ‘opies bf all contracts selling, 2s . scours fasfering, roti nig. or mortgaging real propery received by or acknowledged 1? i. Se Pee A tie Pung” “Doce taza tx and Roginraion fees eee a None ofthe above no ; , a provincial, city or municipality asessox Copies of any contactor policy ifr the prvi fics eee ¢, Over ofthe real property 4. Board of Assessment AppealsV7. Which of the following is false? &. The Sanggunian of provinces, cities and municipalities within the Metropolitan Manila Area shall Provide the necessary appropriations to defray the expenses incident to the general revision of real Property assessment. All expenses incident to a general revision of real property assessments shall, by ordinance of the Sangguniang Panlalawigan, be apportioned between the province and the ‘municipality on the basis of the taxable area of the municipality concerned. vb. Tax delinquencies incurred, and sales and forfeitures of delinquent real property effected, before the effectivity of the Local Government Code of the Philippines shall be governed by the provisions of applicable laws then in force. — 202 fie!) Juiblie (6; It shall be the duty of eatasne of the real property concerned to furnish the provincial, city or municipal assessor with copies of all contracts selling, transferring, or otherwise conveying, leasing, or ‘mortgaging real property received by, or acknowledged before them d. In case of a general failure of crops or substantial decrease in the price of agricultural or agribased Products, or calamity in any province, city, or municipality, the Sanggunian concerned, by ordinance assed prior to the first (Ist) day of January of any year and upon recommendation of the Local Disaster Coordinating Council, may condone or reduce, wholly or partially, the taxes and interest thereon for the succeeding year or years in the city or municipality affected by the calamity 18. Which of the following are valid grounds for the condonation and reduction of real property taxes XL When there is no bidder in a public auction for delinquent properties. SIL When the hig ‘bid does not suffice the amount of tax delinquencies on the property for sale. Ill. When the President of the Philippines allows such condonation or reduction for public interest. “IV. In case of a general failure of crops or substantial decrease in the price of agricultural or agribased products, or calamity in any province, city, or municipality aL1,llandIV b.fandHonly @lllandIV only d. None of the above 19. Which of the following statement is False? |) » NP 1. It shall be the duty of the Bureau of Internal Revenue to furnish the provincial, city or municipal assessor rho fl tracts selling, transferring, or otherwise conveying, leasing, or - mortgaging real property received by, or acknowledged before them. “IL The Registrar of Deeds and notaries public are required to furnish the provincial, city or municipal ‘assessor copies of any contract or policy insurance on buildings, structures, and improvements insured by them or such other documents which may be necessary for the proper assessment thereof, a. True, true b. True, false . False, true @Falsc, false 20. What are the priticiples that shall guide real property taxation? a eal property shall Bo appraised at its current and fair market value i b. Real property shall be classified for assessment purposes on the basis of its actual use -c, Real property shall be assessed on the basis of a uniform classification withii each local goverment t mn d Fe ecto of real property shall be equitable @.All of the above 21. Transformers, electric posts, transmission lines, insulators, and electric meters used by a distributor of electricity (Meralco) should be considered as machinery subject to real property tax. : era eth tec ootally, directly, and exclusively used fo meet the needs ofthe particular Bk b False, because these are not immovables under the Civil Code Article 415 (5) imposed additional ‘tequirements or machinery to be considered immovable q rrue, because itis permanently attached to land and buildings al ‘because it is not permanently attached to land and buildings f the above Bo li