Chapter 4 Flashcards
Exempt Sale or receipts
Secret Tax - free Gold
Sale of Goods to Senior Cetizen and PWD
Sale of Exempt Goods
Sales of Good by Cooperative
Sale of Residential Property
Export Sale by non vat person
Treaty Exempt Sale of Good
Tax - Free Exchange of Property
Sale of Gold to BSP
Exempt Sale of services
SEARCHH VA TRIPS
- Schools
- Employees
- Agricultural Contract Grower and Miller
- Residential Leasing
- Sale of service by Coop
- Health and Hospital Service
- Home owner Association/
Condominium Corp - Lease of Passenger or
Cargo Vessel and Aircraft - Treaty Exempt Sales of service
- Rehional or Area Headquarters
- Transport of passenger by International Carrier
- Services of Printer and Publisher
- Sale of Service to Senior Citizen and PWD
other Sale Of goods and service covered by special law
- Ecozone Location
- Proprietor of theater or cinema
Sales of Exempt Goods
5
a. Agricultural and marine food in original state
b. sales of certain farm and fishery input
c. books, newspaper and magazine
d. Medecine for diabetes and hypertension
e. passenger or cargo vessel
Sale of good by Cooperative
Transaction with member on related activities: EXMP
Transaction with non member on related activities: EXMP if not exceed 10,000,000
Transaction with non member on unrelated activities: business tax
sale of residential property
non- dealer; vat exemption:
3
- Real Property classified as asset
- Any real property of non vat taxpayer
- Any real property of person not engaged to business
sale of residential property
dealer; vat exemption:
(amount)
Socialized housing unit
House and Lot-
Residential lot only-
House and Lot- 450,000
Residential lot only- 180,000
sale of residential property
dealer; vat exemption:
(amount)
Low cost housing price ceiling?
750,000
sale of residential property
dealer; vat exemption:
(amount)
Sale of residential lot valued?
1,919,500
sale of residential property
dealer; vat exemption:
(amount)
Sale of residential dwelling valued?
3,199,200
TREATY EXEMPT SALE
Entities under special law or international agreement
6
- PEZA REGISTERED ENTERPRISE
- ASIAN DEVOLOPMENT BANK
- INTERNATIONAL RICE RESEARCH INSTITUTE
- PHILIPPINES RED CROSS
- EMBASIES OF FOREIGN GOVERNMENT
- THE PHILIPPINES AMUSEMENT AND GAMING CORP.
SCHOOLS
NOT INCLUDED: (vatable)
4
- SEMINAR
- INSERVICE TRAINING
- REVIEW CLASSES
- OTHER SIMILAR
EMPLOYEES
NOT INCLUDED (VATABLE)
5
- PROFESSIONAL PRACTITIONER
- CONSULTANT
- TALENTS
- TV ARTIST
- BROKER AND AGEN
RESIDENTIAL LEASING
EXEMPTED:
4
APARTMENTS
DORM
ROOM
BED SPACE
RESIDENTIAL LEASING
VATABLE:
5
Motels
Hotels
Lodging HOuse
inns
pernsion house
Residential leasing is exempted when monthly payment is php?
15,000
if seller claim exemption after charging vat
surchagre? %
50%
