Practice question
Under section 194(a), what is the ordinary assessment period for a local business tax, absent fraud or a ground suspending prescription?
- One year from payment
- Five years from the date the tax became due
- Ten years from the taxpayer’s birth
- Twenty years from discovery
- There is no assessment period
Legal references
- https://lawphil.net/statutes/repacts/ra1991/ra_7160_1991.html — RA 7160, section 194, periods of assessment and collection
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