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Financial Management (University of Santo Tomas–Legazpi)

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QUIZZER
8OI Registered Enterprises
is correct?
Which of the following statements
1. Investments enjoys inCone
New registered firms under the Board of
d.
tax holi from commercial operations for 6 years from
years
c o m m e r c l a l operations for pioneer firms
and 4 years for non-plOnnee

firms. 8 years
not to exceed
b. The income holiday may be further extended
tax
(maximum ITH) upon meeting certain conditions.
tax holiday is
same witn
C. ForPEZA-registered enterprises, the income
BOI-registered companies in general.
d. All of the above
Answer: D
Which of the following statements is incorrect
tax in lieu
BOI registered companies are subject to 5% gross income
a.
of national and local taxes. are
companies
b. After Income Tax Holiday period, BOI registered
treated as ordinary corporations.
BOI registered companies are subject to zero
rated (0%) vat.
C.
d. None of the above
Answer: A

the Omnibus
3. Statement 1: EO 226 otherwise known as
Investment Code of 1987, is a relatively focused and systematic
grant of
incentives based on an Investment Priorities Plan (IPP).
Statement 2: The IPP is an annual listing of activities/undertakings
overall economic
considered critical to the attainment of the country's
growth and development.
a. Only statement 1 is Correct
b. Only statement 2 is correct
C. Both statements are Correct
d. Both statements are incorrect
Answer: C

4. Income Tax Holiday (ITH) for BOI registered enterprises

presupposes that it shall be exempt from the payment of income taxes
reckoned from the scheduled start of commercial operations until the period
given by the BOI has lapsed. Which of the following is ITH period is
Correct?
I. Six (6) years for new projects with pioneer status
Four (4) years for new projects with non-pioneer status
IIl Three (3) years for expansion projects
a. I and II only C. I and III only
b. 11 and III only d. I, II and III
Answer: D

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vercists ecial 7
opics
firms ma
may avajl of bonus
ow
New registered
registered

Statement
1:
5 registered
joneer
pio firm avail of the ITH
year. shall the
case
Statement 2: In no
years.
exceeding eight (8)
Tor a period correct
statement 1
is
a. Only correct
statement 2 is
b. Only correct
statements
are
C. Both
incorrect
statements
are
d. Both
Answer: C
attract foreign and domestic
n and domestic
1: To
Statement orfers various tax
investors
6 usually incen ves
the government pursuant to E
into the country, I n v e s t m e n t s (BO1)

the Board of I n v e s t m e n t s Code of 10

principally through Omnibus
known as the in.
amended, otherwise government policy on
declaration of
Statement 2: The overall investments made by foreian
ment
EO 226 includes
under
and non-fiscal, to preferreeca
initiatives
incentives, fiscal
investors, providing for export production aS
or non-pioneer,
of investments, pioneer as
existing operation.
rehabilitation or expansion of
include, among others, emplovmar t of
Statement 3: Non- fiscal incentives,
foreign nations, simplification of customs procedure, unrestricted ite of
visa.
Consigned equipment and multiple entry
a. Only statements and 2 are correct
b. Only statements 1 and 3 are correct
C. All statements are correct
d. All statements are incorrect
Answer: C

1. Which of the following is/are a non-fiscal

granted to BOI registered enterprises?
incentive(s)
Employment of foreign nationals
II. Simplification of customs procedure
II Unrestricted use of consigned equipment and
a. I onlyY C. II and III
multiple entry visa
b. I and II only only
d. I, II and III
Answer:D

8. Which of the
registered enterprises? following incentives is/are granted to BOl
I. Tax Exemption
II. Tax Credits
III.
Additional deductions from
a. I only taxable income
b. I and II C. II and III
only d. I, II and only
Answer: D III

Which of
BOI registered enterprises? the following tax
Income Tax incentives is/are granted
II. Holiday (ITH)
Exemption from
III taxes and duties on
Exemption wharfage dues imported
and
export tax, duty,spare parts
impost and ees
ico

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Tax exemption breeding stocks and genetic materials

IV a. I and II only
C. I, II and III only
and IV only d. I, II, III and IV
b. III
Answer: D
to tax

incentives, in addition
wnich of the following
xemptions, is/are granted to BOI registered enterprises stocksdd
of domestic breeding
Tax credit on tax and duty portion
I.
genetic materials.
Tax credit on raw materials and supplies
I.
Additional deductions for labor and expense (ADLE
III. C. II and III only
a. I only
b. I and II only d. I, II and III
Answer: D
are subject to
Statement 1: BOI registered enterprises
11.
5% gross income tax in lieu of national and local taxes, except real property
tax.
income
Statement 2: PEZA registered enterprises are subject to 5% gross
tax in lieu of national and local taxes, except real property tax.
a. Only statement 1 is correct
b. Only statement 2 is correct
C. Both statements are correct
d. Both statements are in correct
Answer: B
12. Which of the following statements pertaining to Pioneer
enterprises under E0 226 is correct?
a. Pioneer enterprises are registered enterprises engaged in thhe
manufacture, processing or production of commodities or raw
materials that are not yet being produced in the Philippines on a
commercial scale.
b. Pioneer enterprises also involves the use of a
design, fformula,
method, process or system of production or transformation of
element, substance or raw material int0 another raw material any or
finished goods which is new and untried in the
C Pioneer enterprises are also engaged in the Philippines.
pursuit of agricultural,
forestry and mining activities and/or services and
d. All of the above energy sectors.
Answer: D
13
refers to the most recent list of the
poorest provinces of the
Philippines at the time of thirty (30)
determined by the National Economic application, as
a. Pioneer enterprises Development Authority (NEDA)
b. Special Economic Zones (ecozones)
C. Investment Priorities Plan (IPP)
d. Less developed areas
(LDA)
Answer: D

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rercises Special opics

selected
area with highlyy develope
PEZA Registered Enterprises
is a into

14.
enterprises or which
have the
potential
to be
commerclal,
developed

Danking, inves ro-industria

ment, and
tourist/recreational,

industrial,
financial centers.
a. Pioneer enterprises
(ecozone)
Economic
Zone
D. Special Plan (1PP)
Priorities
Investment

areas (LDA)
d. Less developed
Answer: B
in export Dr

15.
Incentives to
enterprises lOcating
processing
equipment, spare n-a.

Zones materials,
raw
and etc
subject to
merchandise,
a. Foreign shall not be
customs
and internal
brought into the
zone
tax ordinances.
nor to local
regulations
revenue laws and
BOI-registered enterprise incentives.

.
taxes and
licenses except real estate tavo
xes.
C. Exemption from local
d. All of the above
&Answer:D
Statement 1: The PEZA 1aw specirically provides that
16. the ecozone shall be managed and operated by PEZA (not by any other
custom territory.
government entity) as a separate
Statement 2: In keeping with the status or ecozone as separate custom
territory, the PEZA is conferred the power and function to ODerate
administer, manage and develop the ecozone, and to register, regulate and
supervise the enterprises in ecozones.
a. Only statement 1 is correct
b. Only statement 2 is correct
C. Both statements are correct
d. Both statements are incorrect
Answer:C

17. registered are enterprises

enterprises
engaged in the manufacture, processing or production of commodities or
raw materials that are not
yet being produced in the Philippines on a
commercial scale.
a. Pioneer enterprises
b. Non-pioneer enterprises
C. Multi-national companies
d. Export-oriented enterprises
Answer: A
18
To
EO 226 encourage investments
provides incentives in desirable areas of activiy
to the
following:
enterprises registered with the A B C D
BOI True True True True
enterprises locating in less
developed areas (LDAs) False True True True

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Specal
trercises
True
True
True
their True
MNCs
establishing True
Philippines False
RHQS/ROHQS in the False
False

MNCS establishing their regional True

warehouses in the Philippines False
Yes
in export True
enterprises 1ocating
processing z o n e s

Answer: C Zone
Economic

7916 or the Special

latement 1: RA framework
for tne
9. 1995) provides the a r e a s In
(February 24,
Act or 1995 formation and monitoring ofcertain designated
companies diid
(ecozones) where
transformation,
economic zones and
country called special incentives
therein are given
establishing their operations
industries
privilegesS. the ecOzones shdi
Enterprises locating operating within
or to
Statement 2: and are entitled
wIth the Philippine Export
ZoneAuthority (PEZA)
register those proVidea
i n c e n t i v e s granted a s provided for
under PD 66 or
similar
under EO 226 (Omnibus Investment Code).
a. Only statement 1 is correct
b. Only statement 2 correct
C. Both statements are correct
d. Both statements are incorrect
Answer: C

20. Statement 1: For PEZA purposes, the 5% gross income

tax is in lieu of all taxes, excluding local taxes.
Statement 2: PEZA registered enterprises paying the 5% tax on gross
income are not liable for local business taxes and other charges normallY
due to the local government unit.
a. Both statements are correct
b. Both statements are not correct
C. Only the first statement is correct
d. Only the second statement is correct
Answer: D
21 Statement 1: PEZA income tax
exemption from income tax. holiday incentives imply
Statement 2: PEZA income tax holiday would
mean that an
to to it
enjoys exemption from income tax only, unless entity entitled
from other taxes. expressly exempted
a. Both statements are correct
b. Both
statements are not correct
C
Only the first statement is correct
d. Only the
second statement is correct
Answer: B
22.
A PEZA
unregistered activity. registered enterprise has
a. Registered activity The McIT shall a
registered and an
apply to:
b. Unregistered activity

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trercase ecial Topics

C. Both activities
d. Neither registered or unregistered activity
Answer: B

PWDs/Senior Citizens
Private entities that employ disabled persons
23. who meet
the required skills or qualifications, either as regular emplovee
or learner, shall be entitled to an additional deduction from arPprentice
equivalent to: me
15% of the total amount paid as salaries and wages to PWDe
a.
25% of the total amount paid as salaries and wages to PWD
b.
50% of the total amount paid as salaries and wages to PWDe
C.
d. 100% of the total amount paid as salaries and wages to PWDe
Answer: B

24. Which of the following statements is not a requirem

in order for private establishments employing senior citizens to be entitl
to additional deduction from their gross income equivalent to fifteen Dere
(15%) of the total amount paid as salaries and wages to senior citizens?
a. The employment shall have to continue for a period of at least one (1)
Year.

b. The annual taxable income of the senior citizen does not exceed the
poverty level as determined by NEDA.
C. Both statements "a" and "b"
d. Neither "a" nor "b"
Answer: A

25. Which of the following statements regarding discounts

allowed to PWDs is incorrect?
a. In case the seller provides promotional discounts, the PWD will have
the option to choose either the promotional discount or the PWD
discount.
b. Only the PWD discount is exempted from vat.
C. In cases where the PWD is also a senior citizen (SC), the PWD shall
also be entitled to SC discount in order to maximize the discounts
granted under Magna Carta for PWDs and SCs.
d. None of the above.
Answer: C

Use the following data for the next two (2)

questions:
Mabuhay Services Corporation (MSC) provides 20% discount to senior citizenS.
It recorded the following
during the year:
Customers
Senior
Receipts Regular Citizen Total

Cost of services P8,000,000 P1,000,000 P9,000,000

5,000,000
Other deductible expenses
2,000,000
26. The amount of
gross receipts to be
a. P1,000,000 reported
C. P9,000,000
is
b. P1,250,000
d. P9,250,000

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from gro
d e d u c t i b l e

Answer: D d e d u c t i o n s

i t e m i z e d

special
and
The regular
MSC is: C. P5,250,000
ot
income
d. P7,000,000
P2,000,000
a.
b. P2,250,000

Answer: B
of MSC is:
net income
taxable C. P1,750,000
The
28. a. P750,000 d. P2,000,000
b. P 1 , 0 0 0 , 0 0 0
Answer: D P8,000,0000

RECEIPTS: 1,250,000
Regular customers P9,250,000
SC (P1M/80%)
Total gross receipts (5,000,000)
Less:
Cost of services
(2,250,000)
Other deductible expense
(P2M+SC discount ofP250,00) P2,000,000
amount.
Taxable Net Income undiscounted
should be the
Ihe gross sales or receipts
to be reported expenses
be reported as part of operating
citizen/PWD discount shall
Ihe Senior

the year:
the following during
29 Mabisa Drugs Incorporation had
Customers
Senior

Citizen Total
Regular P10,000,000
Gross Sales P8,000,000 P2,000,000
1,000,000 6,000,000
Cost of Sales 5,000,000
2,000,000
Other deductible
expensesS

Mabisa adopts a policy of giving senior citizens 25% discount. As a result, it

granted P500,000 total senior citizens' discount during the year.
30. The amount of gross sales to be reported is
a. P8,000,000 C. P9,600,000
b. P9,500,000 d. P10,000,000
Answer: D

31. The amount of other deductible

a. P400,000 expenses to be
reported is
C. P2,400,000
b. P500,000 d. P2,500,000
Answer: D
32. The taxable net income is:
a. P1,500,000
C. P1,800,000
b. P1,600,000
d. P2,000,000
Answer: A

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vercrcises
pecial lopics
GROSS SALES
Regular customers
Senior Citizens (SC)
P8,000,0000
2,000,000
Total gross receipts
Less:
P10,000,000
Cost of Sales - Regular
Cost of Sales - SC (5,000,000)
Other deductible expense
(1,000,000)
(P2M + SC discount of P500,00)
(2,500,000)
Taxable Net Income
P1,500,000
33 Bobads Corporation employs both regular and senior citizen emplovo.
and paid the following compensation: ees
Regular employees P800,00o
Senior citizen employees
With salary grade above poverty level
With salary grade below poverty level 200,000
The deductible compensation expense is: 100,000
a. P1,100,000 C. P1,120,000
b. P1,115,000 d. P1,145,000

Answer: B

Regular employees
P800,000
Senior citizen employees:
With salany grade above poverty level
With salary grade below poverty level 200,000
Additional deductible salary (100,000 100,000
x 15%)
Total Compensation Expense 15,000
Additional P1,115,000
Compensation of 15% for those with salary grade of below poverty level.
34. Using
the above information,
except that 20% of the regular
are
persons with disability receiving a total employees
deductible compensation expense of the compensation of P160,000, the
a. P1,152,000 corporation is
C. P1,178,000
b. P1,155,000 d. P1,192,000

Answer: B
Regular employees (P800,000 x 80%)
PWD employees (P800,000 x P640,000
20%) 160,000
Additional Compensation-PWD@25%
Senior citizen employees: 40,000
With salary grade above
With salary grade below poverty
level
200,000
poverty Jevel
Additional deductible salary 100,000
Total Compensation Expense(100,000 15%)
x
15,000
Additional deductible P1,155,000
compensation of 25% for PWD
employeesS

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Specinla p i c s

rercise
his
m a k e

to

Special opicsies
u n a b l e

is age opr
PWD, a u t h o r i Z e d care
as
the
duly
classified

his with

1: If a
taxpayer
made by charged

State
tatement be p e r s o n shall
may other

P8,000,0000 or guardian
return

the guardian or
by
2,000,000
or representative
pendi
esentative
incurring

a n d his
P10,000,000 his
persOn
Statement
or
2:
property.

p r i n c i p a l
(PWD)

of making
the
return
and
r e s p o n s i b i l i t y

(5,000,000) responsibility

ne e r r o n e o u s , false,
fraudulent
returns.t r a n s f e r of
1 and
(1,000,000) assume
provided
for
privilege in
s t a t e m e n t

c i t i z e n taxpayer

3: The
senior
to a

(2,500,00o) Staremen available

likewise
2 is

P1,500,000 correct
statement

statement 1 is
a. Only correct
statement 2 is
b. Only
zen employeeS statement 3 is
incorrect
C. Only is correct
statements
None of the
d.
P800,000 Answer: C
discount
and vat
exemption

senior
citizen prepared and
1: While the 20% a r e primarilyY PWD
200,000 6. Statement
to "children's
meals" a s these
PWD is a
child, the
20%

100,000 shall not apply for children, if the consumptlon.

intentondiy marketed a s it is
for his personal and drinks,
discount WIll be applicable a s long purchase
of food
discount on establishments

Statement 2: The 20%

c o n s u m a b l e items
served by
cooked food
dessert and other food,
beverages, counters, fast
similar food
value meals and other
includes outs.
and short orders including take
P800,000 a. Statements 1 & 2 are false
is false
. Statement is true but statement 2
1
2 is true
C Statement 1 is false but statement
200,0 d. Statements 1 and 2 are true
100,000 Answer: D
15,000
P1,115,000
erty level. 37. Statement 1: Any donation, bequest, subsidy or financial
aid which may
be made to government agencies engaged in the rehabilitation
Statement 2: The 20% discount on purchase of food and drinks,
employees beverages, dessert and other consumable items served by establishments
0,000, the
includes value meals and other similar food counters, fast food, cooked food
and short orders including take outs
d. Statements 1 & 2 are false
. Statement 1 is true but statement 2 is false
C. Statement 1 is false but statement 2 is true
P640,000 d. Statements 1 and 2 are true
160,000 Answer: D
40,000
Local Taxation/Real Property Taxes
38.
200,000 Taxing power of local
100,000 extend to the
following taxes, government units shall NOT
15,000 a. Income tax on banks and except one:
b. Taxes of other financial
national institutions;
155,000
any kind on the
C.
instrumentalities,
Taxes on
and local
government
government, its agencies and
agricultural and units;
farmers or fishermen; aquatic products when sold by the
d. Excise taxes on
articles enumerated marginal
Revenue Code under the
Answer: A National Internal

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CrerciseS
lohics
taxes
should
ot disregard
long period of time. To
increases in
Real
property
ver aa
Over
referro do
operty
ocCurring

s o u n d
tax
system
as
39 prope of a
value of real the
canon

the violate
would
otherwise
a. theoretical justice.
b. fiscal adequacy.
C. a d m i n i s t r a t i v e feasibility.

d. symbiotic relationship.

& A n s w e r :

an annual ad valore
rem tax on
may levy other ime
40.
A
municipality

land,
building,
macninerY,
and
improvement
such as
real property Manila Area,
Metropolitan
only if within the
property
is municipality.
the real located in
the
a. is
property
b. the real to do So.
a u t h o r i z e s it
the DILG the province.
C.
delegated to it by
d. the power is
Answer: A
owned by the national govern nt is
Real property national government
41. taxation unless the
exempt from real
property government unit.
transfers it for the use of a local
a. establishment.
to a business
b leases the real property
allowS its use for
educatlonal purposes by a school
C gratuitously
established for profit.
non-profit corporation.
d. sells the property to a government-owned
Answer: B

42. Where the real property tax assessment is erroneous,

the remedy of the property owner is:
a. To file a claim for refund in the Court of Tax Appeals if he has paid the
tax, within thirty (30) days from date of payment;
b. To file an appeal with the Provincial Board of Assessment
Appeals within thirty (30) days from receipt of the assessment;
C. To file an appeal with the Provincial Board of Assessment
within sixty (60) days from receipt of the
Appeals
d. To file an appeal with the Provincial
assessment;
Board of Assessment Appeals
within sixty (60) days from receipt of the
assessed tax under
assessment and playing the
protest.
Answer: C
43. Which statement
a. The
prescriptive periods
on
prescriptive periods is true?
to assess taxes
Revenue Code and the Local in the National Interndi
b. Local taxes shall be Government Code are the same,
became due; assessed within five
(5) years from the date icy
C. Action for the
collection of local
d.
expirationof the period to assess taxes may be
instituted diL the
Local taxes may be assessed and to collect the
the
underpayment within ten (10) vearstax
of tax
which does not from discoveyy of
Arswer: B constitute fraud.

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c o l l e c t T O

p r i n c i p l e s . W h i c h s t a t e m e l

and
levy
assessment,
value;

a p p r a i s a l , following
pr
m a r k e t
b a s i s

The the fair the

guided by and on
Shall be c u r r e n t
purposes

operty taX
A orO its s e s s m e n t
OT belong h e r e ?
appraised at u n i f o r m

shall be
asse
for a
Real
property
be
classified
of
a.
shall basis
property on
Real the based
on
b. actual use; assessed be
of its shall be subdivision shall

property political
Real each
local property
within real
a s s e s s m e n t
of
classirication
The appraisal and owner
statemen
ts of the a
financial constructed
audited

Answer: D province
has
special
levy
a
After
the impose n o t too
may
Exam)
a m o u n t

igan
Ddr
Sangguniang
PanglalaWig
road up
to an

5 Daran rangay road, the benefitted by the

to thee
lands specifically portion
upon
on the giving any
without
exceed

actual cost of
the o a d to the
60% of the portion
giving any
a.

barangay. COst
without

actual project
100% of the
and
b. the province
barangay. 60% for
keeping
actual project cost,
C. or theto the barangay.
0Uo 40% between
the province
and

giving the same

or the actual cost, dividing
d. bUo
the barangay.
Answer: A
by the province
the imposition
What is the tax base for
46.
of professional taxes?

a. That which Congress determined.

Code.
b. The pertinent provision of the local Government
sanggunian.
C. The reasonable classification made by the provincial
Government determined.
d. That which the Dept. of Interior and Local
Answer: C
47. Lualhati Educational Foundation, Inc., a stock
educational institution organized for profit, decided to lease for commercial
Use a 1,500 sq. m. portion of its school. The school actually, directly, and
exclusively used the rents for the maintenance of its school buildings,
including payment of janitorial services. Is the leased portion subject to real
property tax?
a. Yes, since Lualhati
is a stock and for
b. No, since the school profit educational institution.
actually, directly, and exclusively used the
for educational purposes. rents
C. No, but it may be
d. Yes, since the subject to income taxation on the
leased portion is not rents it receives.
used for educational and actually, directly,
Answer: D purposes. exclusively
48
The head
Dios, the
as priest of the religious sect
corporation
name for use as sole, rented out a Tres Personas Solo0
the rentals school site of a 5,000 sq. m. lot
for the school
support and upkeep of its for profit. organized registered
The
in its
priests. The rented lotsect used
is

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rercuse
Special Topics
the ser is organized for
b e c a u s e

taxes

property directl
actually,
from real it 1s
not exempt taxes
since

tho
property not
profit. from
real
religious
p u r p s e s .

since
l t Is
the rents, ,
D. exempt for taxXes
used
property
exclusively

from
real
purposes. it is
actually, directly, and
act
not exempt since
C. religious taxes
used for
that is property
purposes.
real
from educational

d. exempt for
used
exclusively

Answer: D provide for the r e f i s O

not
a n errone
does
laW of
the a result or
as
be de
Apparently collected

49. have
been a s s e s s o r .
What should done
taxes that city
or
real property by the provincial
the Supreme Coi
Court.
a s s e s s m e n t

llegal instance to avoid

an injustice rule
before

illegal assessmeni
no-refund
in such the ent
legality of erroneous
or
a. Question the amending
the
ordinance
b. Enact a new tho'
and the application of
to correct the
error.
in tax c o m p u t a t i o n
adjustment liabilities.
C. Subsequent property tax
e x c e s s payment
to future real r e r u n d or real property taxes
the
new
providing for
ordinance
d. Pass a collected.

that have been

erroneously or illegally

Answer: C
to the enactment of the Local
Prior
50 (Bar Exam) registered under the
consumer's cooperatives
GOvernment Code,
exemption from all taxes imposed by
Cooperative Development Act enjoyed withdrawal of
a local government. With
the Local Government Code's
continue to enjoy such exemption?
exemptions, could these cooperatives
a. Yes, because the Local Government Code, a general law, could not
amend a special law such as the Cooperative Development Act.
b. No, Congress has not by the majority vote of all its members granted
exemption to consumers' cooperatives
C. No, the exemption has been withdrawn to level the playing field for all
taxpayers and preserve the LGUs' financial position.
d. Yes, their exemption is specifically mentioned among those not
withdrawn by the Local Government Code.
Answer: D

526

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 lOMoARcPSD|28127908

The Authors

ENRICO D. TABAG, CPA, MBA

Asst. Prof., University of Santo Tomas-AMV College of Accountancy
Reviewer in Taxation, Professiondl Review and Training Center, Incorporated (PRTC)
Founder, EDT Consultancy and Accounting Services
Former
Program Chair, BSMA, UST AMV College of Accountancy
Reviewer in Taxation, Center for Training and Development, Inc. (CTDI)
Faculty/Special Lecturer
Far Eastern University Manila (FEU)
University of the East Manila (UE)
Colegio de San Juan de Lefran
Chiang Kai Shek College

EARL JIMSON GARCIA, CPA, MBA

Asst. Professor, University of Santo Tomas- AMV College of Accountancy
CPA Reviewer in Taxation - Philippine Accountancy Review for Excellence (PAReX)
Member, CPA Board Syllabus Revision Task Force
Former Chairperson, University of Santo Tomas-AMV College of Accountancy
Former Reviewer in Taxation, Review School of Accountancy (ReSA)
Former Faculty/Special Lecturer
Far Eastern University
Miriam College Foundation
Colegio de San Juan de Letran
St. Paul University
Jose Rizal University
Angeles University Foundation
College of the Holy Spirit
Saint Mary's University (Nueva Vizcaya)

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