VAT, Percentage Tax, or 0% Flashcards
Sale of an apartment house
VAT
Sale of the right or the privilege to use any industrial, commercial or scientific equipment
VAT
Services rendered by local construction and service contractors
VAT
Services rendered by transportation contractors on their transport of goods or cargoes from one domestic port to another domestic port
VAT
Sale of electricity by generation, transmission, and/or distribution companiees
VAT
Services rendered by a beauty parlor
VAT
Services rendered by a funeral parlor
VAT
Transport of passengers and cargoes by a domestic air or sea carrier fromPH to a foreign country
0%
Sale of goods, supplies, equipment, and fuel to persons engaged in international shipping and air transport operations
0%
Sale of raw materials or packaging material to export-oriented enterprise whose export sales exceed 70% of the total annual production
0%
Sale of power or fuel generated through renewable sources of energy
0%
Services rendered to persons engaged in international shipping or air transport operations, including lease of property for use thereof
0%
Sale of gold to BSP
EXEMPT
Sale to non-resident buyer of goods assembled in the PH to be delivered to a resident in the PH, paid for in acceptable foreign currency and accounted per BSP rules and regulations
0%
Distribution or transfer of goods to creditor in payment of debt or obligation
VAT
Sale of goods to Asian Development Bank
0%
Sale of goods to Land Bank of the PH
VAT
Services rendered by review schools
VAT
Educational services rendered by private educational institutions accredited by DepEd, CHED, or TESDA
EXEMPT
Export sales of persons who are VAT-registered
0%
Export Sales of persons who are not VAT-registered
EXEMPT
Sale of real property utilized for low-cost housing or socialized housing
EXEMPT
Lease of residential units where the monthly rental per unit does not exceed P15,000
EXEMPT
Lease of commercial units where the monthly rental per unit does not exceed P15,000 and whose annual gross rentals amount to P3,000,000
EXEMPT
Lease of commercial units where the monthly rental per unit does not exceed P15,000 and whose annual gross rentals amount to P3,000,000
EXEMPT
Sale of agricultural foods products in their original state where the annual gross sales exceed P3,000,000
EXEMPT
Sale of canned food products where the annual gross sales exceed P3,000,0000
VAT
Sale of canned food products where the annual gross sales exceed P3,000,0000
VAT
Performance of VAT-subject services where the annual receipts do not exceed P3,000,000
EXEMPT
Medical services rendered by professionals
VAT
Medical services rendered to confined patient by a doctor employed by the hospital
EXEMPT
Transfer of property through merger or consolidation
EXEMPT
Association dues of homeowner’s assocation
EXEMPT
Sale of residential lot by real estate dealer the value of which is P1,500,000
VAT
Sale of medicine to Senior Citizens and PWD
EXEMPT
Sale of lechong manok (take out)
EXEMPT
Sale of lechong manok in a restaurant
VAT
Sale of cut flowers
VAT
Sale of broom and walis tingting
VAT
Sale of copra, molasses, and ordinary salt
EXEMPT
Laboratory services rendered by hospitals
EXEMPT
Sale of medicine to in-patients of the hospital
EXEMPT
Purchase of herbicides and pesticides by an agri cooperative
EXEMPT
Purchase of cars for the use of a cooperative
VAT
Purchase of ingredients of feeds of livestock
EXEMPT
Purchase of ingredients of fertilizers of plants
VAT
Purchase and sale of rice by a cooperative
EXEMPT
Purchase and sale of boiled eggs
EXEMPT
Purchase and sale of husked rice
EXEMPT
Purchase and sale of marinated milk fish
VAT
Purchase and sale of raw cane sugar
EXEMPT
Purchase and sale of logs, woods, bamboo and orchids
VAT
Importation of aircraft of domestic and international transport operationss
EXEMPT
Importation of fuel by an international shipping or air transport operatior
EXEMPT
Import of a computer server by a credit cooperative
VAT
Import of an ozone generator and an ultrafine ore grinding machine by a mining cooperative
VAT
Importation a luxury car by an individual not engaged in business for personal use
VAT
Import of personal and household effects belonging to residents of the PH
EXEMPT
Importation of professional instruments and implements, wearing apparel, domestic animal and personal household effects not within 90 days of arrival of the person
VAT
Importation of professional instruments and implements, wearing apparel, domestic animal and personal household effects within 90 days of arrival of the person
EXEMPT
Purchase and sale of cow, bulls, calves, pigs, sheep, goats and rabbits
EXEMPT
Purchase of animal medicines
VAT
Purchase and sale of books, newspaper, review, or bulletins not devoted principally to the publication of paid advertisements
EXEMPT
Importation of cruise ships by a domestic or international transport operations
EXEMPT
Services by agricultural contract growers or millers
EXEMPT
Director’s fees, per diems. and allowances from directorship in a corporation
EXEMPT
Purchase and sale of medicine for hypertension, diabetes, or cholesterol
EXEMPT
Purchase and sale of medicine for hypertension, diabetes, or cholesterol
EXEMPT
Sale of cooperatives that transact only with members
EXEMPT
Sale of cooperatives that transact only with members
EXEMPT
Sale of cooperatives that transact with nonmembers with accumulated reserves not exceeding P10 million
EXEMPT
Sale of cooperatives that transact with nonmembers with accumulated reserves exceeding P10 million
VAT
Sale of property HELD FOR USE by an VAT taxpayer
VAT
Sale of real property classified as capital assets of VAT taxpayers
EXEMPT
Sale of any real property of a non-VAT taxpayer
EXEMPT
Sale of adjacent lots within 12-month period in favor of the same buyer, in total exceeding the set threshold
VAT
Sales to PEZA by a nonVAT enterprise
EXEMPT
Lease of Passenger or Cargo Vessels and Aircrafts, including spare parts and equipments thereof
EXEMPT
Medical services in a hospital
EXEMPT
Veterinary services in an animal hospital
EXEMPT
Medical, dental, hospital, and veterinary services rendered by a professional
VAT
Banks and Nonbanks Financial Intermediaries: Interest Income from LOANS exceeding FIVE years
1%
[Percentage Tax] Banks and Nonbanks Financial Intermediaries: Interest Income from LOANS NOT exceeding FIVE years
5%
Banks and Nonbanks Financial Intermediaries: Dividends
0%
Banks and Nonbanks Financial Intermediaries: Other income (net trading gains, rentals)
7%
Domestic carriers and keepers of garage (transport of passengers)
3%
Franchise of radio/and or TV broadcasting companies whose annual gross receipts of the preceding year do not exceed P10,000,000
3%
Franchises on gas and water utilities
2%
Tax on overseas dispatch,
message or conversation originating from the
Philippines
10%
Amusement Taxes: Jai-alai and race track
30%
Tax on agents of foreign
insurance companies (fire, marine or
miscellaneous insurance): GENERALLY
4%
Tax on foreign insurance companies (fire, marine or
miscellaneous insurance): Owners of property obtain insurance directly with foreign insurance
companies
5%
Amusement Taxes: Cockpits, cabarets, night or day clubs (per establishment)
18%
Amusement Taxes: Professional basketball games
15%
Amusement Tax: Boxing exhibitions
10%
Winnings: Actual amount paid for every winning ticket after deducting the cost of
the ticket
10%
Winnings: Winnings from double, forecast/quinella and trifecta bets
4%
Winnings: Prize of winning race horse owners
10%
Purchase or sale of drugs for cancer, mental illness, tuberculosis, and kidney diseases
EXEMPT
Percentage tax on international
carriers
3%
Percentage tax on international
carriers
3%
Sale of a Non-VAT taxpayer to Asian Development Bank
EXEMPT
Sale of a Non-VAT taxpayer to International Rice Research Institute
EXEMPT
Sale of a Non-VAT taxpayer to Philippine National Red Cross
EXEMPT
Sale of a Non-VAT taxpayer to embassies of foreign governments
EXEMPT
Sale of a Non-VAT taxpayer to PAGCOR
EXEMPT
Sale of a VAT taxpayer to PEZA registered enterprises
0% VAT
Sale of a VAT taxpayer to Asian Development Bank
0% VAT
Sale of a VAT taxpayer to International Rice Research Institute
0% VAT
Sale of a VAT taxpayer to Philippine National Red Cross
0% VAT
Dressing services on agricultural products which product is in original state
VAT
Sale of a VAT taxpayer to embassies of foreign governments
0% VAT
Sale of a VAT taxpayer to PAGCOR
0% VAT
Hotels, inns, and lodges services
VAT
Lending services of a cooperative
EXEMPT (page 121, BUSTAX book)
Out-patient sale of anti-diabetes and hypertension medicine
EXEMPT
In-patient sales of medicine
EXEMPT
Rent income of a hospital of spaces leased to doctors
VAT
Purchase, importation, lease, and sale of a yacht
VAT
Importation, purchase, lease, or sale of a private jet
VAT (not intended for passenger or cargo transport)
Regional or Area Headquarter of a Multinational Company
EXEMPT
Receipts from transport of passengers by international carriers
EXEMPT
Receipts from outgoing flights of a domestic carrier with international operations
0%
Receipts from incoming flights of a domestic carrier with international operations
EXEMPT
Receipts from domestic flights of a domestic carrier with international operations
VAT
Services of printers and publishers
EXEMPT
Gross receipts from a business owned by a Senior Citizen
VAT
Gross receipts from a business owned by a PWD
VAT
Receipts from sale of tickets from theaters and cinemas
EXEMPT (they are subject to local taxes)
Rent income of a BANK from foreclosed properties (ROPA)
7%
Interest income of a bank from short-term DEPOSITS with other banks
7% (Not 5% because it is from a DEPOSIT, not a LOAN)
Interest Income of BSP from its legally mandated functions
EXEMPT
Pawnshops and Money Changers (Financial Intermediaries without Quasi-Banking Functions): Interest income from loans with maturity period of FIVE years or less
5%
Pawnshops and Money Changers (Financial Intermediaries without Quasi-Banking Functions): Interest income from loans with maturity period EXCEEDING FIVE years
1%
Pawnshops and Money Changers (Financial Intermediaries without Quasi-Banking Functions): Other items treated as gross income
5%
Receipts from tricycle services
EXEMPT (taxed by LGU)
Receipts from bowling alleys
VAT
Receipts from golf courses
VAT
Receipts from billiard halls
VAT
Receipts from amateur basketball games
VAT
Receipts from concerts of various musical artists
VAT
Receipts from operations of illegal cockpit
18% amusement tax (page 165, BUSTAX book)
Franchises, in general
VAT
Receipts of local water district
2% franchise tax (page 169, BUSTAX book)
Franchise of electricity
VAT
Franchise of telecommunication
VAT
Franchise of transportation (XPN: common carriers by land on their transport of passengers since these are subject to the 3% CCT)
VAT
Receipts of water refilling or purification stations selling bottled water
VAT
Receipt of premiums of non-life insurance companies
VAT
Receipts of insurance and reinsurance commissions
VAT
Receipts of Consultants
VAT
Receipts of Consultants
VAT
Receipts of cooking instructors
VAT
Receipts of martial art instructors
VAT
IPO Tax on up to 25% of shares sold, bartered or exchanged
4%
IPO Tax on up to 25% but not over 33.33% of shares sold, bartered or exchanged
2%
IPO Tax on over 33.33% of shares sold, bartered or exchanged
1%
IPO Tax on over 33.33% of shares sold, bartered or exchanged
1%
