GEN. PRINCIPLES

Question 1

THEORY AND BASIS OF TAX

Answer 1

1. Lifeblood Theory
2. Neccesity Theory
3. Symbiotic Theory

Question 2

PRINCIPLES OF A SOUND TAX SYSTEM

Answer 2

1. Fiscal Adequacy
2. Administrative Feasibility
3. Theoritical Justice

Question 3

INHERENT POWERS

Answer 3

1. Taxation
2. Police Power
3. Eminent Domain

Question 4

CHARACTERISTICS

Answer 4

1. Comprehensive
2. Unlimited
3. Plenary
4. Supreme

Question 5

PRIMARY PURPOSE OF TAXATION

Answer 5

To raise revenue to support the State.

Question 6

SECONDARY PURPOSE OF TAXATION

Answer 6

1. Promotion of general welfare
2. Regulation
3. Reduction of Social Inequity
4. Economic Growth
5. Protectionism

Question 7

NATURE OF TAXATION

Answer 7

1. Inherent
2. legilative
3. Subject to limitations
4. Not a contract
5. Not political
6. Non- delegable

Question 8

MANIFESTATION

Answer 8

1. No injunciton rule
2. No consitutional grant needed
3. Strict construction of refunds
4. State’s right to select objects and subjects of taxation
5. Non compensation of taxes

Question 9

INHERENT LIMITATIONS

Answer 9

1. Public purpose
2. Exemption of Gov’t
3. Non-delegability
4. Territoriality
5. International Comity

Question 10

SIMILARITIES OF INHERENT POWERS

Answer 10

1. Restriction on rights
2. Equivalent compensation
3. Legislative in nature
4. Inherent
5. Crucial and indispensable

Question 11

PRIMARY ELEMENTS OF DOUBLE TAXATION

Answer 11

Same Taxpayer and object

Question 12

SECONDARY ELEMENTS OF DOUBLE TAXATION

Answer 12

1. same purpose
2. same taxing authority
3. same taxing period
4. same character