BUSINESS TAXATION

7. place of taxation
8. also known as real property tax
10. “Go to the ______”, 1st step to BIR registration of business
11. eminent domain, police power and _____
14. _____ tax – levied on all property left by a deceased
17. imposed on the sale of goods & services; at the rate of 12%
19. failure to pay taxes on time
20. a bill or document that shows a list of goods or services and the prices to be paid for them
22. ascertaining the amount of tax due
26. collected every yearly registration of motor vehicles
28. seizure of personal property
29. _____ tax – levied on specified articles like alcohol, tobacco and mineral products

1. _____ tax – levied on the privilege of carrying out a commercial activity
2. agreement whereby the taxpayer offers to pay something less than what is due and the government accepts it as a full settlement of his tax liability
3. divestiture of property without compensation
4. tax collecting agency of the government
5. government agency implementing the tariff rates
6. _____ stamp tax - levied on instruments and papers like contracts
8. cancellation of tax liability
9. “Ask For ______”
12. seizure of real property
13. levied on imported articles
15. _____ tax – collected from first class and economy class passengers of commercial aircrafts
16. _____ tax – levied on electric power consumption
18. ____’s tax – levied on gifts
21. also known as community tax certificate
23. moving goods illegally into or out of the country
24. additional amount on top of the tax due
25. immunity from tax liability
27. involuntary payment of a tax unlawfully or erroneously assessed