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INTEGTAX > VAT, Percentage Tax, or 0% > Flashcards

VAT, Percentage Tax, or 0% Flashcards

1
Q

Sale of an apartment house

A

VAT

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2
Q

Sale of the right or the privilege to use any industrial, commercial or scientific equipment

A

VAT

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3
Q

Services rendered by local construction and service contractors

A

VAT

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4
Q

Services rendered by transportation contractors on their transport of goods or cargoes from one domestic port to another domestic port

A

VAT

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5
Q

Sale of electricity by generation, transmission, and/or distribution companiees

A

VAT

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6
Q

Services rendered by a beauty parlor

A

VAT

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7
Q

Services rendered by a funeral parlor

A

VAT

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8
Q

Transport of passengers and cargoes by a domestic air or sea carrier fromPH to a foreign country

A

0%

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9
Q

Sale of goods, supplies, equipment, and fuel to persons engaged in international shipping and air transport operations

A

0%

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10
Q

Sale of raw materials or packaging material to export-oriented enterprise whose export sales exceed 70% of the total annual production

A

0%

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11
Q

Sale of power or fuel generated through renewable sources of energy

A

0%

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12
Q

Services rendered to persons engaged in international shipping or air transport operations, including lease of property for use thereof

A

0%

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13
Q

Sale of gold to BSP

A

EXEMPT

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14
Q

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

A

0%

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15
Q

Distribution or transfer of goods to creditor in payment of debt or obligation

A

VAT

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16
Q

Sale of goods to Asian Development Bank

A

0%

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17
Q

Sale of goods to Land Bank of the PH

A

VAT

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18
Q

Services rendered by review schools

A

VAT

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19
Q

Educational services rendered by private educational institutions accredited by DepEd, CHED, or TESDA

A

EXEMPT

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20
Q

Export sales of persons who are VAT-registered

A

0%

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21
Q

Export Sales of persons who are not VAT-registered

A

EXEMPT

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22
Q

Sale of real property utilized for low-cost housing or socialized housing

A

EXEMPT

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23
Q

Lease of residential units where the monthly rental per unit does not exceed P15,000

A

EXEMPT

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24
Q

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

A

EXEMPT

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25
Q

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

A

EXEMPT

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26
Q

Sale of agricultural foods products in their original state where the annual gross sales exceed P3,000,000

A

EXEMPT

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27
Q

Sale of canned food products where the annual gross sales exceed P3,000,0000

A

VAT

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28
Q

Sale of canned food products where the annual gross sales exceed P3,000,0000

A

VAT

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29
Q

Performance of VAT-subject services where the annual receipts do not exceed P3,000,000

A

EXEMPT

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30
Q

Medical services rendered by professionals

A

VAT

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31
Q

Medical services rendered to confined patient by a doctor employed by the hospital

A

EXEMPT

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32
Q

Transfer of property through merger or consolidation

A

EXEMPT

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33
Q

Association dues of homeowner’s assocation

A

EXEMPT

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34
Q

Sale of residential lot by real estate dealer the value of which is P1,500,000

A

VAT

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35
Q

Sale of medicine to Senior Citizens and PWD

A

EXEMPT

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36
Q

Sale of lechong manok (take out)

A

EXEMPT

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37
Q

Sale of lechong manok in a restaurant

A

VAT

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38
Q

Sale of cut flowers

A

VAT

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39
Q

Sale of broom and walis tingting

A

VAT

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40
Q

Sale of copra, molasses, and ordinary salt

A

EXEMPT

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41
Q

Laboratory services rendered by hospitals

A

EXEMPT

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42
Q

Sale of medicine to in-patients of the hospital

A

EXEMPT

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43
Q

Purchase of herbicides and pesticides by an agri cooperative

A

EXEMPT

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44
Q

Purchase of cars for the use of a cooperative

A

VAT

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45
Q

Purchase of ingredients of feeds of livestock

A

EXEMPT

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46
Q

Purchase of ingredients of fertilizers of plants

A

VAT

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47
Q

Purchase and sale of rice by a cooperative

A

EXEMPT

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48
Q

Purchase and sale of boiled eggs

A

EXEMPT

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49
Q

Purchase and sale of husked rice

A

EXEMPT

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50
Q

Purchase and sale of marinated milk fish

A

VAT

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51
Q

Purchase and sale of raw cane sugar

A

EXEMPT

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52
Q

Purchase and sale of logs, woods, bamboo and orchids

A

VAT

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53
Q

Importation of aircraft of domestic and international transport operationss

A

EXEMPT

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54
Q

Importation of fuel by an international shipping or air transport operatior

A

EXEMPT

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55
Q

Import of a computer server by a credit cooperative

A

VAT

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56
Q

Import of an ozone generator and an ultrafine ore grinding machine by a mining cooperative

A

VAT

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57
Q

Importation a luxury car by an individual not engaged in business for personal use

A

VAT

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58
Q

Import of personal and household effects belonging to residents of the PH

A

EXEMPT

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59
Q

Importation of professional instruments and implements, wearing apparel, domestic animal and personal household effects not within 90 days of arrival of the person

A

VAT

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60
Q

Importation of professional instruments and implements, wearing apparel, domestic animal and personal household effects within 90 days of arrival of the person

A

EXEMPT

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61
Q

Purchase and sale of cow, bulls, calves, pigs, sheep, goats and rabbits

A

EXEMPT

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62
Q

Purchase of animal medicines

A

VAT

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63
Q

Purchase and sale of books, newspaper, review, or bulletins not devoted principally to the publication of paid advertisements

A

EXEMPT

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64
Q

Importation of cruise ships by a domestic or international transport operations

A

EXEMPT

65
Q

Services by agricultural contract growers or millers

A

EXEMPT

66
Q

Director’s fees, per diems. and allowances from directorship in a corporation

A

EXEMPT

67
Q

Purchase and sale of medicine for hypertension, diabetes, or cholesterol

A

EXEMPT

68
Q

Purchase and sale of medicine for hypertension, diabetes, or cholesterol

A

EXEMPT

69
Q

Sale of cooperatives that transact only with members

A

EXEMPT

70
Q

Sale of cooperatives that transact only with members

A

EXEMPT

71
Q

Sale of cooperatives that transact with nonmembers with accumulated reserves not exceeding P10 million

A

EXEMPT

72
Q

Sale of cooperatives that transact with nonmembers with accumulated reserves exceeding P10 million

A

VAT

73
Q

Sale of property HELD FOR USE by an VAT taxpayer

A

VAT

74
Q

Sale of real property classified as capital assets of VAT taxpayers

A

EXEMPT

75
Q

Sale of any real property of a non-VAT taxpayer

A

EXEMPT

76
Q

Sale of adjacent lots within 12-month period in favor of the same buyer, in total exceeding the set threshold

A

VAT

77
Q

Sales to PEZA by a nonVAT enterprise

A

EXEMPT

78
Q

Lease of Passenger or Cargo Vessels and Aircrafts, including spare parts and equipments thereof

A

EXEMPT

79
Q

Medical services in a hospital

A

EXEMPT

80
Q

Veterinary services in an animal hospital

A

EXEMPT

81
Q

Medical, dental, hospital, and veterinary services rendered by a professional

A

VAT

82
Q

Banks and Nonbanks Financial Intermediaries: Interest Income from LOANS exceeding FIVE years

A

1%

83
Q

Banks and Nonbanks Financial Intermediaries: Interest Income from LOANS NOT exceeding FIVE years

A

5%

84
Q

Banks and Nonbanks Financial Intermediaries: Dividends

A

0%

85
Q

Banks and Nonbanks Financial Intermediaries: Other income (net trading gains, rentals)

A

7%

86
Q

Domestic carriers and keepers of garage (transport of passengers)

A

3%

87
Q

Franchise of radio/and or TV broadcasting companies whose annual gross receipts of the preceding year do not exceed P10,000,000

A

3%

88
Q

Franchises on gas and water utilities

A

2%

89
Q

Tax on overseas dispatch,
message or conversation originating from the
Philippines

A

10%

90
Q

Amusement Taxes: Jai-alai and race track

A

30%

91
Q

Tax on agents of foreign
insurance companies (fire, marine or
miscellaneous insurance): GENERALLY

A

4%

92
Q

Tax on foreign insurance companies (fire, marine or
miscellaneous insurance): Owners of property obtain insurance directly with foreign insurance
companies

A

5%

93
Q

Amusement Taxes: Cockpits, cabarets, night or day clubs (per establishment)

A

18%

94
Q

Amusement Taxes: Professional basketball games

A

15%

95
Q

Amusement Tax: Boxing exhibitions

A

10%

96
Q

Winnings: Actual amount paid for every winning ticket after deducting the cost of
the ticket

A

10%

97
Q

Winnings: Winnings from double, forecast/quinella and trifecta bets

A

4%

98
Q

Winnings: Prize of winning race horse owners

A

10%

99
Q

Purchase or sale of drugs for cancer, mental illness, tuberculosis, and kidney diseases

A

EXEMPT

100
Q

Percentage tax on international
carriers

A

3%

101
Q

Percentage tax on international
carriers

A

3%

102
Q

Sale of a Non-VAT taxpayer to Asian Development Bank

A

EXEMPT

103
Q

Sale of a Non-VAT taxpayer to International Rice Research Institute

A

EXEMPT

104
Q

Sale of a Non-VAT taxpayer to Philippine National Red Cross

A

EXEMPT

105
Q

Sale of a Non-VAT taxpayer to embassies of foreign governments

A

EXEMPT

106
Q

Sale of a Non-VAT taxpayer to PAGCOR

A

EXEMPT

107
Q

Sale of a VAT taxpayer to PEZA registered enterprises

A

0% VAT

108
Q

Sale of a VAT taxpayer to Asian Development Bank

A

0% VAT

109
Q

Sale of a VAT taxpayer to International Rice Research Institute

A

0% VAT

110
Q

Sale of a VAT taxpayer to Philippine National Red Cross

A

0% VAT

111
Q

Dressing services on agricultural products which product is in original state

A

VAT

112
Q

Sale of a VAT taxpayer to embassies of foreign governments

A

0% VAT

113
Q

Sale of a VAT taxpayer to PAGCOR

A

0% VAT

114
Q

Hotels, inns, and lodges services

A

VAT

115
Q

Lending services of a cooperative

A

EXEMPT (page 121, BUSTAX book)

116
Q

Out-patient sale of anti-diabetes and hypertension medicine

A

EXEMPT

117
Q

In-patient sales of medicine

A

EXEMPT

118
Q

Rent income of a hospital of spaces leased to doctors

A

VAT

119
Q

Purchase, importation, lease, and sale of a yacht

A

VAT

120
Q

Importation, purchase, lease, or sale of a private jet

A

VAT (not intended for passenger or cargo transport)

121
Q

Regional or Area Headquarter of a Multinational Company

A

EXEMPT

122
Q

Receipts from transport of passengers by international carriers

A

EXEMPT

123
Q

Receipts from outgoing flights of a domestic carrier with international operations

A

0%

124
Q

Receipts from incoming flights of a domestic carrier with international operations

A

EXEMPT

125
Q

Receipts from domestic flights of a domestic carrier with international operations

A

VAT

126
Q

Services of printers and publishers

A

EXEMPT

127
Q

Gross receipts from a business owned by a Senior Citizen

A

VAT

128
Q

Gross receipts from a business owned by a PWD

A

VAT

129
Q

Receipts from sale of tickets from theaters and cinemas

A

EXEMPT (they are subject to local taxes)

130
Q

Rent income of a BANK from foreclosed properties (ROPA)

A

7%

131
Q

Interest income of a bank from short-term DEPOSITS with other banks

A

7% (Not 5% because it is from a DEPOSIT, not a LOAN)

132
Q

Interest Income of BSP from its legally mandated functions

A

EXEMPT

133
Q

Pawnshops and Money Changers (Financial Intermediaries without Quasi-Banking Functions): Interest income from loans with maturity period of FIVE years or less

A

5%

134
Q

Pawnshops and Money Changers (Financial Intermediaries without Quasi-Banking Functions): Interest income from loans with maturity period EXCEEDING FIVE years

A

1%

135
Q

Pawnshops and Money Changers (Financial Intermediaries without Quasi-Banking Functions): Other items treated as gross income

A

5%

136
Q

Receipts from tricycle services

A

EXEMPT (taxed by LGU)

137
Q

Receipts from bowling alleys

A

VAT

138
Q

Receipts from golf courses

A

VAT

139
Q

Receipts from billiard halls

A

VAT

140
Q

Receipts from amateur basketball games

A

VAT

141
Q

Receipts from concerts of various musical artists

A

VAT

142
Q

Receipts from operations of illegal cockpit

A

18% amusement tax (page 165, BUSTAX book)

143
Q

Franchises, in general

A

VAT

144
Q

Receipts of local water district

A

2% franchise tax (page 169, BUSTAX book)

145
Q

Franchise of electricity

A

VAT

146
Q

Franchise of telecommunication

A

VAT

147
Q

Franchise of transportation (XPN: common carriers by land on their transport of passengers since these are subject to the 3% CCT)

A

VAT

148
Q

Receipts of water refilling or purification stations selling bottled water

A

VAT

149
Q

Receipt of premiums of non-life insurance companies

A

VAT

150
Q

Receipts of insurance and reinsurance commissions

A

VAT

151
Q

Receipts of Consultants

A

VAT

152
Q

Receipts of Consultants

A

VAT

153
Q

Receipts of cooking instructors

A

VAT

154
Q

Receipts of martial art instructors

A

VAT

155
Q

IPO Tax on up to 25% of shares sold, bartered or exchanged

A

4%

156
Q

IPO Tax on up to 25% but not over 33.33% of shares sold, bartered or exchanged

A

2%

157
Q

IPO Tax on over 33.33% of shares sold, bartered or exchanged

A

1%

158
Q

IPO Tax on over 33.33% of shares sold, bartered or exchanged

A

1%

INTEGTAX (5 decks)

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