Practice question
A treasurer assesses a local business tax six years after it became due. There was no fraud, intent to evade, suspension or other special rule. Is the assessment timely under section 194?
- No, the ordinary five-year assessment period has elapsed
- Yes, every local tax has a ten-year ordinary period
- Yes, assessment is never subject to prescription
- Yes, if the treasurer recently took office
- Yes, because only national taxes prescribe
Legal references
- https://lawphil.net/statutes/repacts/ra1991/ra_7160_1991.html — RA 7160, section 194, periods of assessment and collection
Answer this question in flashcards to review your response and continue practicing.