2014 (Taxation) Bar Exam Questions: Question 6

[Answer / discuss the question below. Or see 2014 bar exam Taxation Instructions; 2014 Taxation essay and multiple choice Questions: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28 and 29; See also 2014 Bar Exam: Information, Discussions, Tips, Questions and Results]


Choose the correct answer. Smuggling – (1%)

(A) does not extend to the entry of imported or exported articles by means of any false or fraudulent invoice, statement or practices; the entry of goods at less than the true weight or measure; or the filing of any false or fraudulent entry for the payment of drawback or refund of duties.

(B) is limited to the import of contraband or highly dutiable cargo beyond the reach of customs authorities.

(C) is committed by any person who shall fraudulently import or bring into the Philippines, or assist in so doing, any article, contrary to law, or shall receive, conceal, buy, sell or any manner facilitate the transportation, concealment or sale of such article after importation, knowing the same to have been imported contrary to law.

(D) is punishable by administrative penalty only.


  1. Buffet is in a rare case that he pays most of his taxes as capital gains. But that rate isnt the real tax he pays, baseuce capital gainst taxes tax nominal inventment gains not real gains adjusted for inflation. If i buy a stock at $5 and sell at $10 ten years later, but inlfation has caused the dollar to lose half its value, then i really havent made anything though ims till taxed on $5 “profit” adjusted for inflationt he average real capitla aginst tax is about 30 percent, not 15%. Also, capitla aginst are taxed at the corprate level by reducing corprate income thought corparet taxes whichr educes the real value of the underlying asset (the stock) and as a result reduces what would have been your capitl gain. So buffet in reality paid taxes much higher then the 17 percent you quote. Thats only the number he dirrectly wrote a check for.

  2. In the U.S there was Ely Parker, a full-blooded Seneca who served on Ulysses Grant's staff and wrote out the surrender terms for Robert E. Lee to sign at Appomattox, a century and a half ago.A little more impressive than Chief Stolen Feathers at Harvard Law School.

  3. Ms. Weisshaus marches into discovery under Judge Cote, but the Related Cases, all with identical claims in part, under Judge Scheindlin (or persons acting on her behalf) get dismissed (some sua sponte). What’s wrong with this picture? Talk about judicial discretion; more like the total ignorance of the rule of law (a.k.a. if those later plaintiffs make it to discovery, “game, set, match”)!!!

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