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BLT 4A > Is it subject to VAT? > Flashcards

Is it subject to VAT? Flashcards

1
Q

Sale of marinated fish

A

Subject to VAT

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2
Q

Sale of copra

A

Exempt

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3
Q

Sale of bonsai

A

Subject to VAT

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4
Q

Sale of wood

A

Subject to VAT

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5
Q

Sale of barbeque

A

Exempt

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6
Q

Sale of tilapia

A

Exempt

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7
Q

Sale of roasted chicken

A

Exempt

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8
Q

Sale of canned pineapple chunks

A

Subject to VAT

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9
Q

Sale of salted eggs

A

Exempt

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10
Q

Sale of smoked fish

A

Exempt

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11
Q

Sale of flowers

A

Subject to VAT

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12
Q

Sale of raw sugar cane

A

Exempt

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13
Q

Sale of muscovado

A

Exempt

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14
Q

Sale of refined sugar

A

Subject to VAT

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15
Q

Sale or importation of fertilizers, seeds, seedlings, fingerlings, fish, prawn, livestock, and poultry feeds (including ingredients) that are locally produced

A

Exempt

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16
Q

Sale or importation of fertilizers, seeds, seedlings, fingerlings, fish, prawn, livestock, and poultry feeds (including ingredients) that are imported

A

Exempt

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17
Q

Specialty feeds

A

Subject to VAT

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18
Q

Agricultural and marine food products in their original state packaged using shrink wrapping, vacuum packing, tetra-pack, and other similar packaging methods

A

Exempt

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19
Q

Polished or husked rice

A

Exempt

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20
Q

Corn grits

A

Exempt

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21
Q

Rabbits

A

Exempt

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22
Q

Sale or importation of V-Mig hog feeds

A

Exempt

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23
Q

Sale or importation of V-Mig feeds for pets

A

Subject to VAT

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24
Q

Purchase of local raw materials for the formulation of hogfeeds

A

Exempt

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25
Q

Importation of raw materials for the formulation of feeds for animals

A

Exempt

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26
Q

Importation of raw materials for the formulation of feeds for animals generally considered as pets

A

Subject to VAT

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27
Q

Importation of fertilizers

A

Exempt

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28
Q

Importation of the personal effects of residents of the Philippines returning from abroad

A

Exempt

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29
Q

Importation of the personal effects of nonresident citizens coming to resettle in the Philippines

A

Exempt

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30
Q

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

A

Exempt

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31
Q

Gross receipts of transportation contractors engaged in the transport of passengers by land.

A

VAT-Exempt. Subject to OPT

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32
Q

Gross receipts of transportation contractors engaged in the transport of GOODS and CARGOES by land.

A

Subject to VAT.

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33
Q

Gross receipts of domestic carriers engaged in the transport of passengers by AIR or SEA.

A

Subject to VAT

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34
Q

Gross receipts of domestic carriers engaged in the transport of goods and cargoes by AIR or SEA.

A

Subject to VAT

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35
Q

Gross receipts of international air carriers doing business in the Philippines

A

VAT-Exempt. Subject to OPT

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36
Q

Gross receipts from international flights of domestic carriers

A

Subject to VAT

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37
Q

Gross receipts of Banks and non-bank entities doing business in the Philippines.

A

VAT-Exempt. Subject to OPT

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38
Q

Gross receipts of radio and TV broadcasting companies with annual gross receipts from the preceding year exceeding P10,000,000.

A

Subject to VAT

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39
Q

Gross receipts of radio and TV broadcasting companies with annual gross receipts from the preceding year does not exceed P10,000,000.

A

VAT-Exempt, Exempt. Subject to OPT

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40
Q

Gross receipts of operators of cabarets, night and day clubs

A

VAT-Exempt. Subject to OPT

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41
Q

Agricultural contract growers

A

Exempt

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42
Q

Milling for others of: palay into rice, corn into grits, and sugar cane into raw sugar.

A

Exempt

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43
Q

Preparing and packaging hogs or chickens ready for delivery independent of growing them

A

Subject to VAT

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44
Q

Laboratory services

A

Exempt

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45
Q

Sale of drugs and medicines from a pharmacy or drugstore operated by a hospital or clinic

A

Subject to VAT

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46
Q

Medical services

A

VAT-exempt

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47
Q

Hospital bills

A

VAT-exempt

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48
Q

Sales made by drugstore to in-patients

A

VAT-exempt

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49
Q

Sales made by drugstore to out-patients

A

Subject to VAT

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50
Q

Annual gross professional fees exceed 3,000,000

A

Subject to VAT

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51
Q

Annual gross professional fees do not exceed 3,000,000

A

VAT-Exempt

52
Q

Doctor’s consultation fee

A

Subject to VAT

53
Q

Educational services rendered by private educational institutions, duly accredited by the DepEd, CHED, TESDA, and those rendered by government education institutions

A

VAT-Exempt

54
Q

Seminars

A

Subject to VAT

55
Q

In-service training

A

Subject to VAT

56
Q

Review classes

A

Subject to VAT

57
Q

Gross receipts by ABC University, a proprietary educational institution registered under CHED

A

VAT-Exempt

58
Q

Gross receipts by Saint Mary’s University, a non-stock non-profit educational institution registered under CHED

A

VAT-Exempt

59
Q

Gross receipts by XYZ primary school accredited by DepEd

A

VAT-Exempt

60
Q

Gross receipts by Employ Me Now Institute, a vocational school registered under TESDA

A

VAT-Exempt

61
Q

Gross receipts by a review school offering CPA review course

A

Subject to VAT

62
Q

Gross receipts by a tutorial school offering review courses for college entrance exams

A

Subject to VAT

63
Q

Services rendered by individuals pursuant to an employer-employee relationship

A

VAT-Exempt

64
Q

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.

A

VAT-Exempt

65
Q

Transactions which are exempt under Presidential Degree No. 529: Petroleum Exploration Concessionaires under the Petroleum Act of 1949

A

Subject to VAT

66
Q

Sales by agricultural cooperatives duly registered with the CDA to their members and non-members of THEIR OWN PRODUCE

A

Exempt

67
Q

Sales by agricultural cooperatives duly registered with the CDA to their members of other produce

A

Exempt

68
Q

Sales by agricultural cooperatives duly registered with the CDA to non-members of other produce, not agricultural food product at its original state

A

Subject to VAT

69
Q

Gross receipts from “lending activities” by credit or multi-purpose cooperatives duly registered with the CDA to members and non-members

A

Exempt

70
Q

Gross receipts from “non-lending activities” by credit or multi-purpose cooperatives duly registered with the CDA to members and non-members

A

Subject to VAT

71
Q

Sales by non-agricultural, non-electric, and non-credit cooperatives duly registered with the CDA. The contribution per member does not exceed 5,000

A

Exempt

72
Q

Sales by non-agricultural, non-electric, and non-credit cooperatives duly registered with the CDA. The contribution per member exceeds 5,000

A

Subject to VAT

73
Q

Electric cooperative

A

Subject to VAT

74
Q

Importation by non-agricultural, non-electric, and non-credit cooperatives of machineries and equipment to be used by them

A

Subject to VAT

75
Q

Importation by agricultural cooperatives of equipment to be used directly and exclusively in the production or porcessing of agricultural cooperative’s produce

A

Exempt

76
Q

Export sales by persons who are not vat-registered

A

VAT-Exempt

77
Q

Export sales by persons who are vat-registered

A

Subject to VAT. 0% rate.

78
Q

Sale of real property not primarily held for sale or for lease

A

VAT-exempt. Subject to capital gains tax

79
Q

Incidental sale of property used in the trade or business of the seller

A

Subject to VAT

80
Q

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

A

Subject to VAT

81
Q

Sale of real propertty utilized for socialized housing for the underprivileged

A

Exempt

82
Q

Sale of House and Lot and Other Residential dwellings with selling price of not more than P3,199,200

A

Exempt

83
Q

Sale of parking lot in the sale of condominium units, regardless of selling price

A

Subject to VAT

84
Q

Sale of parcel of land held as a capital asset.

A

VAT-Exempt. Subject to capital gains tax.

85
Q

Sale of parcel of land not ordinarily held for sale to customers but is used in business combinations

A

Subject to VAT

86
Q

Sale of “commercial lot” ordinarily held for sale in the course of trade or business

A

Subject to VAT

87
Q

Sale by a real estate dealer of “residential lot” ordinarily held for sale in the course of trade or business

A

Subject to VAT (since 2021)

88
Q

Sales of condominium unit for P3.199,200

A

VAT-exempt

89
Q

Sale of parking psace in a condominium unit for P800,000

A

Subject to VAT

90
Q

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

A

VAT-Exempt

91
Q

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

A

VAT-Exempt. Subject to OPT

92
Q

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.

A

Subject to VAT

93
Q

Lease of commercial units

A

Subject to VAT

94
Q

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.

A

Exempt from VAT

95
Q

Lease of residential units in Makati for P20,000 per unit per month. The aggregate gross receipts of the lessor was P5,000,000.

A

Subject to VAT

96
Q

Sale, importation, printing or publication of books, newspaper, magazine, journal, or review bulletin

A

Exempt from VAT

97
Q

E-books

A

Subject to VAT

98
Q

E-journals

A

Subject to VAT

99
Q

Electronic copies

A

Subject to VAT

100
Q

Online library sources

A

Subject to VAT

101
Q

CDS and software

A

Subject to VAT

102
Q

Printing of brochures

A

Subject to VAT

103
Q

Bookbinding

A

Subject to VAT

104
Q

Engraving

A

Subject to VAT

105
Q

Stereotyping

A

Subject to VAT

106
Q

Electrotyping

A

Subject to VAT

107
Q

Lithographing

A

Subject to VAT

108
Q

Transport of passengers by international carriers doing business in the Philippines

A

Exempt

109
Q

Transport of cargo by international carriers doing business in the Philippines.

A

VAT-Exempt. Subject to Common Carrier’s Tax

110
Q

Domestic common carriers transport of passengers by land within the Philippines.

A

VAT-exempt. Subject to Common Carrier’s Tax

111
Q

Domestic common carriers transport of passengers by land from the Philippines to abroad

A

Subject to VAT. 0% rate.

112
Q

Domestic common carriers transport of passengers by air or sea within the Philippines

A

Subject to VAT

113
Q

Domestic common carriers transport of passengers by air or sea from the Philippines to abroad

A

Subject to VAT. 0% rate

114
Q

Domestic common carriers transport of cargo or goods within the Philippines

A

Subject to VAT

115
Q

Domestic common carriers transport of cargo or goods from the Philippines to abroad.

A

Subject to VAT. 0% rate

116
Q

Sale, importation or lease of passenger or cargo vessels and aircraft, including engine, equipment, and spare parts, for domestic or international transport operations

A

VAT-Exempt

117
Q

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

A

VAT-Exempt

118
Q

Services of banks, non-bank financial intermediaries performing quasi-banking functions, and other non-bank financial intermediaries, such as money changers and pawnshops

A

VAT-Exempt. Subject to OPT

119
Q

Sale or lease of goods and services to senior citizens and persons with disabilities

A

VAT-Exempt

120
Q

Transfer of property

A

VAT-Exempt

121
Q

Association dues, membership fees, and other assessments and charges collected on a purely reimbursement basis by homeowners’ associations and condominium corporations

A

VAT-Exempt

122
Q

Sale of Gold to the BSP

A

VAT-Exempt

123
Q

Sale or importation of prescription drugs and medicines prescribed for diabetes, high cholesterol, hypertenstion, cancer, mental illness, TB, and kidney disease

A

VAT-Exempt

124
Q

Sale or importation of capital equipment necessary for the production of PPE

A

VAT-Exempt

125
Q

All drugs, vaccines specifically prescribed and used for the treatment of COVID-19

A

VAT-Exempt

126
Q

Drugs for the treatment of COVID-19 approved by the FDA

A

VAT-Exempt

127
Q

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

A

VAT-Exempt

BLT 4A (8 decks)

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