Is it subject to VAT? Flashcards
Sale of marinated fish
Subject to VAT
Sale of copra
Exempt
Sale of bonsai
Subject to VAT
Sale of wood
Subject to VAT
Sale of barbeque
Exempt
Sale of tilapia
Exempt
Sale of roasted chicken
Exempt
Sale of canned pineapple chunks
Subject to VAT
Sale of salted eggs
Exempt
Sale of smoked fish
Exempt
Sale of flowers
Subject to VAT
Sale of raw sugar cane
Exempt
Sale of muscovado
Exempt
Sale of refined sugar
Subject to VAT
Sale or importation of fertilizers, seeds, seedlings, fingerlings, fish, prawn, livestock, and poultry feeds (including ingredients) that are locally produced
Exempt
Sale or importation of fertilizers, seeds, seedlings, fingerlings, fish, prawn, livestock, and poultry feeds (including ingredients) that are imported
Exempt
Specialty feeds
Subject to VAT
Agricultural and marine food products in their original state packaged using shrink wrapping, vacuum packing, tetra-pack, and other similar packaging methods
Exempt
Polished or husked rice
Exempt
Corn grits
Exempt
Rabbits
Exempt
Sale or importation of V-Mig hog feeds
Exempt
Sale or importation of V-Mig feeds for pets
Subject to VAT
Purchase of local raw materials for the formulation of hogfeeds
Exempt
Importation of raw materials for the formulation of feeds for animals
Exempt
Importation of raw materials for the formulation of feeds for animals generally considered as pets
Subject to VAT
Importation of fertilizers
Exempt
Importation of the personal effects of residents of the Philippines returning from abroad
Exempt
Importation of the personal effects of nonresident citizens coming to resettle in the Philippines
Exempt
Importation of professional instruments and implements, tools of trade, wearing apparel belonging to persons coming to settle in the Philippines or Filipinos who are now residents or citizens of other countries (overseas Filipinos) FOR THEIR OWN USE
Exempt
Gross receipts of transportation contractors engaged in the transport of passengers by land.
VAT-Exempt. Subject to OPT
Gross receipts of transportation contractors engaged in the transport of GOODS and CARGOES by land.
Subject to VAT.
Gross receipts of domestic carriers engaged in the transport of passengers by AIR or SEA.
Subject to VAT
Gross receipts of domestic carriers engaged in the transport of goods and cargoes by AIR or SEA.
Subject to VAT
Gross receipts of international air carriers doing business in the Philippines
VAT-Exempt. Subject to OPT
Gross receipts from international flights of domestic carriers
Subject to VAT
Gross receipts of Banks and non-bank entities doing business in the Philippines.
VAT-Exempt. Subject to OPT
Gross receipts of radio and TV broadcasting companies with annual gross receipts from the preceding year exceeding P10,000,000.
Subject to VAT
Gross receipts of radio and TV broadcasting companies with annual gross receipts from the preceding year does not exceed P10,000,000.
VAT-Exempt, Exempt. Subject to OPT
Gross receipts of operators of cabarets, night and day clubs
VAT-Exempt. Subject to OPT
Agricultural contract growers
Exempt
Milling for others of: palay into rice, corn into grits, and sugar cane into raw sugar.
Exempt
Preparing and packaging hogs or chickens ready for delivery independent of growing them
Subject to VAT
Laboratory services
Exempt
Sale of drugs and medicines from a pharmacy or drugstore operated by a hospital or clinic
Subject to VAT
Medical services
VAT-exempt
Hospital bills
VAT-exempt
Sales made by drugstore to in-patients
VAT-exempt
Sales made by drugstore to out-patients
Subject to VAT
Annual gross professional fees exceed 3,000,000
Subject to VAT
Annual gross professional fees do not exceed 3,000,000
VAT-Exempt
Doctor’s consultation fee
Subject to VAT
Educational services rendered by private educational institutions, duly accredited by the DepEd, CHED, TESDA, and those rendered by government education institutions
VAT-Exempt
Seminars
Subject to VAT
In-service training
Subject to VAT
Review classes
Subject to VAT
Gross receipts by ABC University, a proprietary educational institution registered under CHED
VAT-Exempt
Gross receipts by Saint Mary’s University, a non-stock non-profit educational institution registered under CHED
VAT-Exempt
Gross receipts by XYZ primary school accredited by DepEd
VAT-Exempt
Gross receipts by Employ Me Now Institute, a vocational school registered under TESDA
VAT-Exempt
Gross receipts by a review school offering CPA review course
Subject to VAT
Gross receipts by a tutorial school offering review courses for college entrance exams
Subject to VAT
Services rendered by individuals pursuant to an employer-employee relationship
VAT-Exempt
Services rendered by RHQs established in the Philippines by multinational corporations which act as supervisory, communications, and coordinating centers for their affiliates, subsidiaries, or branches in the Asia-Pacific Region and DO NOT EARN INCOME FROM THE PHILIPPINES.
VAT-Exempt
Transactions which are exempt under Presidential Degree No. 529: Petroleum Exploration Concessionaires under the Petroleum Act of 1949
Subject to VAT
Sales by agricultural cooperatives duly registered with the CDA to their members and non-members of THEIR OWN PRODUCE
Exempt
Sales by agricultural cooperatives duly registered with the CDA to their members of other produce
Exempt
Sales by agricultural cooperatives duly registered with the CDA to non-members of other produce, not agricultural food product at its original state
Subject to VAT
Gross receipts from “lending activities” by credit or multi-purpose cooperatives duly registered with the CDA to members and non-members
Exempt
Gross receipts from “non-lending activities” by credit or multi-purpose cooperatives duly registered with the CDA to members and non-members
Subject to VAT
Sales by non-agricultural, non-electric, and non-credit cooperatives duly registered with the CDA. The contribution per member does not exceed 5,000
Exempt
Sales by non-agricultural, non-electric, and non-credit cooperatives duly registered with the CDA. The contribution per member exceeds 5,000
Subject to VAT
Electric cooperative
Subject to VAT
Importation by non-agricultural, non-electric, and non-credit cooperatives of machineries and equipment to be used by them
Subject to VAT
Importation by agricultural cooperatives of equipment to be used directly and exclusively in the production or porcessing of agricultural cooperative’s produce
Exempt
Export sales by persons who are not vat-registered
VAT-Exempt
Export sales by persons who are vat-registered
Subject to VAT. 0% rate.
Sale of real property not primarily held for sale or for lease
VAT-exempt. Subject to capital gains tax
Incidental sale of property used in the trade or business of the seller
Subject to VAT
Sale of real properties held primarily for sale to customers or held for lease in the ordinary course of trade or business of the seller
Subject to VAT
Sale of real propertty utilized for socialized housing for the underprivileged
Exempt
Sale of House and Lot and Other Residential dwellings with selling price of not more than P3,199,200
Exempt
Sale of parking lot in the sale of condominium units, regardless of selling price
Subject to VAT
Sale of parcel of land held as a capital asset.
VAT-Exempt. Subject to capital gains tax.
Sale of parcel of land not ordinarily held for sale to customers but is used in business combinations
Subject to VAT
Sale of “commercial lot” ordinarily held for sale in the course of trade or business
Subject to VAT
Sale by a real estate dealer of “residential lot” ordinarily held for sale in the course of trade or business
Subject to VAT (since 2021)
Sales of condominium unit for P3.199,200
VAT-exempt
Sale of parking psace in a condominium unit for P800,000
Subject to VAT
Lease of a residential unit with a monthly rental per unit not exceeding P15,000, regardless of the amount of aggregated rentals received by the lessor
VAT-Exempt
Lease of residential unit with a monthly rental per unit exceeding P15,000 but the aggregate of such rentals of the lessor during the year do not exceed P3,000,000
VAT-Exempt. Subject to OPT
Lease of commercial units in Makati for P15,000 per unit per month. Gross receipts during the year was P2,200,000. The developer is a VAT-registered entity.
Subject to VAT
Lease of commercial units
Subject to VAT
Lease of residential units in Makati for P15,000 per units per month. The aggregate gross receipts of the lessor during the year was P5,000,000.
Exempt from VAT
Lease of residential units in Makati for P20,000 per unit per month. The aggregate gross receipts of the lessor was P5,000,000.
Subject to VAT
Sale, importation, printing or publication of books, newspaper, magazine, journal, or review bulletin
Exempt from VAT
E-books
Subject to VAT
E-journals
Subject to VAT
Electronic copies
Subject to VAT
Online library sources
Subject to VAT
CDS and software
Subject to VAT
Printing of brochures
Subject to VAT
Bookbinding
Subject to VAT
Engraving
Subject to VAT
Stereotyping
Subject to VAT
Electrotyping
Subject to VAT
Lithographing
Subject to VAT
Transport of passengers by international carriers doing business in the Philippines
Exempt
Transport of cargo by international carriers doing business in the Philippines.
VAT-Exempt. Subject to Common Carrier’s Tax
Domestic common carriers transport of passengers by land within the Philippines.
VAT-exempt. Subject to Common Carrier’s Tax
Domestic common carriers transport of passengers by land from the Philippines to abroad
Subject to VAT. 0% rate.
Domestic common carriers transport of passengers by air or sea within the Philippines
Subject to VAT
Domestic common carriers transport of passengers by air or sea from the Philippines to abroad
Subject to VAT. 0% rate
Domestic common carriers transport of cargo or goods within the Philippines
Subject to VAT
Domestic common carriers transport of cargo or goods from the Philippines to abroad.
Subject to VAT. 0% rate
Sale, importation or lease of passenger or cargo vessels and aircraft, including engine, equipment, and spare parts, for domestic or international transport operations
VAT-Exempt
Importation of fuel, goods, and supplies by persons engaged in international shipping or air transport operations provided that it shall be used exclusively for the transport from a port in the Philippines directly to a foreign port
VAT-Exempt
Services of banks, non-bank financial intermediaries performing quasi-banking functions, and other non-bank financial intermediaries, such as money changers and pawnshops
VAT-Exempt. Subject to OPT
Sale or lease of goods and services to senior citizens and persons with disabilities
VAT-Exempt
Transfer of property
VAT-Exempt
Association dues, membership fees, and other assessments and charges collected on a purely reimbursement basis by homeowners’ associations and condominium corporations
VAT-Exempt
Sale of Gold to the BSP
VAT-Exempt
Sale or importation of prescription drugs and medicines prescribed for diabetes, high cholesterol, hypertenstion, cancer, mental illness, TB, and kidney disease
VAT-Exempt
Sale or importation of capital equipment necessary for the production of PPE
VAT-Exempt
All drugs, vaccines specifically prescribed and used for the treatment of COVID-19
VAT-Exempt
Drugs for the treatment of COVID-19 approved by the FDA
VAT-Exempt
Sales or lease of goods or properties or the performance of services other then the transactions mentioned explicitly in law, wherein the gross annual sales or receipts do not exceed P3,000,000
VAT-Exempt
