Practice question
Deficiency basic tax is exactly P25,000,000 for a particular tax type and year. Other requirements of the specific RA 11521 tax-predicate provision are assumed. Does exactly that amount meet its express monetary wording?
- Yes, any tax amount qualifies
- Yes, exactly and in excess mean the same
- No, the text requires an amount in excess of P25,000,000
- Yes, only gross revenue matters
- No, the threshold is P100,000,000
Legal references
- https://lawphil.net/statutes/repacts/ra2025/ra_12312_2025.html — RA 12312, section 8
- https://lawphil.net/statutes/repacts/ra2022/ra_11930_2022.html — RA 11930, section 9(c)
- https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/92723 — RA 11521, section 2 amending AMLA section 3(i)
Answer this question in flashcards to review your response and continue practicing.