Income Taxation

2. Includes payments to an employee in addition to regular compensation
5. Exercise of the sovereign power to raise revenues for the expense of the government
6. Total income of a taxpayer subject to tax
8. Any goods or services benefits furnished by an employer in cash or in kind in addition to basic salaries
12. Income such as compensation income, business income
17. Imposed and collected by the government
18. Income arising out of an employer-employee relationship
19. Acronym of Tax Reform for Acceleration and Inclusion Law
20. Tax based on a fixed percentage of the amount
22. Synonymous of wealth
24. Tax where the rate decreases as the tax base increases
25. Specified income payable at stated intervals for a fixed period

1. subject to final wittholding tax
3. Dividends paid out in currency
4. Place of taxation
5. Synonymous to tax avoidance
7. Transfer of the burden of the tax by the original payer to someone else
9. Dividends paid out in the form of noncash asset or in kind
10. Pertinent items of gross income
11. Artificial being created by operation of law
13. Taxing the same subject twice
14. Foreign born person who is not qualified to acquire Philippine citizenship
15. Synonymous to tax evasion
16. Synonymous of investment
21. Tax which is demanded from the person whom the law intends to pay it
23. Enforced proportional contributions from persons & property levied by the state