VAT, Percentage Tax, or 0% Flashcards
(158 cards)
1
Q
Sale of an apartment house
A
VAT
2
Q
Sale of the right or the privilege to use any industrial, commercial or scientific equipment
A
VAT
3
Q
Services rendered by local construction and service contractors
A
VAT
4
Q
Services rendered by transportation contractors on their transport of goods or cargoes from one domestic port to another domestic port
A
VAT
5
Q
Sale of electricity by generation, transmission, and/or distribution companiees
A
VAT
6
Q
Services rendered by a beauty parlor
A
VAT
7
Q
Services rendered by a funeral parlor
A
VAT
8
Q
Transport of passengers and cargoes by a domestic air or sea carrier fromPH to a foreign country
A
0%
9
Q
Sale of goods, supplies, equipment, and fuel to persons engaged in international shipping and air transport operations
A
0%
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%
11
Q
Sale of power or fuel generated through renewable sources of energy
A
0%
12
Q
Services rendered to persons engaged in international shipping or air transport operations, including lease of property for use thereof
A
0%
13
Q
Sale of gold to BSP
A
EXEMPT
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%
15
Q
Distribution or transfer of goods to creditor in payment of debt or obligation
A
VAT
16
Q
Sale of goods to Asian Development Bank
A
0%
17
Q
Sale of goods to Land Bank of the PH
A
VAT
18
Q
Services rendered by review schools
A
VAT
19
Q
Educational services rendered by private educational institutions accredited by DepEd, CHED, or TESDA
A
EXEMPT
20
Q
Export sales of persons who are VAT-registered
A
0%
21
Q
Export Sales of persons who are not VAT-registered
A
EXEMPT
22
Q
Sale of real property utilized for low-cost housing or socialized housing
A
EXEMPT
23
Q
Lease of residential units where the monthly rental per unit does not exceed P15,000
A
EXEMPT
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
25
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
26
Sale of agricultural foods products in their original state where the annual gross sales exceed P3,000,000
EXEMPT
27
Sale of canned food products where the annual gross sales exceed P3,000,0000
VAT
28
Sale of canned food products where the annual gross sales exceed P3,000,0000
VAT
29
Performance of VAT-subject services where the annual receipts do not exceed P3,000,000
EXEMPT
30
Medical services rendered by professionals
VAT
31
Medical services rendered to confined patient by a doctor employed by the hospital
EXEMPT
32
Transfer of property through merger or consolidation
EXEMPT
33
Association dues of homeowner’s assocation
EXEMPT
34
Sale of residential lot by real estate dealer the value of which is P1,500,000
VAT
35
Sale of medicine to Senior Citizens and PWD
EXEMPT
36
Sale of lechong manok (take out)
EXEMPT
37
Sale of lechong manok in a restaurant
VAT
38
Sale of cut flowers
VAT
39
Sale of broom and walis tingting
VAT
40
Sale of copra, molasses, and ordinary salt
EXEMPT
41
Laboratory services rendered by hospitals
EXEMPT
42
Sale of medicine to in-patients of the hospital
EXEMPT
43
Purchase of herbicides and pesticides by an agri cooperative
EXEMPT
44
Purchase of cars for the use of a cooperative
VAT
45
Purchase of ingredients of feeds of livestock
EXEMPT
46
Purchase of ingredients of fertilizers of plants
VAT
47
Purchase and sale of rice by a cooperative
EXEMPT
48
Purchase and sale of boiled eggs
EXEMPT
49
Purchase and sale of husked rice
EXEMPT
50
Purchase and sale of marinated milk fish
VAT
51
Purchase and sale of raw cane sugar
EXEMPT
52
Purchase and sale of logs, woods, bamboo and orchids
VAT
53
Importation of aircraft of domestic and international transport operationss
EXEMPT
54
Importation of fuel by an international shipping or air transport operatior
EXEMPT
55
Import of a computer server by a credit cooperative
VAT
56
Import of an ozone generator and an ultrafine ore grinding machine by a mining cooperative
VAT
57
Importation a luxury car by an individual not engaged in business for personal use
VAT
58
Import of personal and household effects belonging to residents of the PH
EXEMPT
59
Importation of professional instruments and implements, wearing apparel, domestic animal and personal household effects not within 90 days of arrival of the person
VAT
60
Importation of professional instruments and implements, wearing apparel, domestic animal and personal household effects within 90 days of arrival of the person
EXEMPT
61
Purchase and sale of cow, bulls, calves, pigs, sheep, goats and rabbits
EXEMPT
62
Purchase of animal medicines
VAT
63
Purchase and sale of books, newspaper, review, or bulletins not devoted principally to the publication of paid advertisements
EXEMPT
64
Importation of cruise ships by a domestic or international transport operations
EXEMPT
65
Services by agricultural contract growers or millers
EXEMPT
66
Director’s fees, per diems. and allowances from directorship in a corporation
EXEMPT
67
Purchase and sale of medicine for hypertension, diabetes, or cholesterol
EXEMPT
68
Purchase and sale of medicine for hypertension, diabetes, or cholesterol
EXEMPT
69
Sale of cooperatives that transact only with members
EXEMPT
70
Sale of cooperatives that transact only with members
EXEMPT
71
Sale of cooperatives that transact with nonmembers with accumulated reserves not exceeding P10 million
EXEMPT
72
Sale of cooperatives that transact with nonmembers with accumulated reserves exceeding P10 million
VAT
73
Sale of property HELD FOR USE by an VAT taxpayer
VAT
74
Sale of real property classified as capital assets of VAT taxpayers
EXEMPT
75
Sale of any real property of a non-VAT taxpayer
EXEMPT
76
Sale of adjacent lots within 12-month period in favor of the same buyer, in total exceeding the set threshold
VAT
77
Sales to PEZA by a nonVAT enterprise
EXEMPT
78
Lease of Passenger or Cargo Vessels and Aircrafts, including spare parts and equipments thereof
EXEMPT
79
Medical services in a hospital
EXEMPT
80
Veterinary services in an animal hospital
EXEMPT
81
Medical, dental, hospital, and veterinary services rendered by a professional
VAT
82
Banks and Nonbanks Financial Intermediaries: Interest Income from LOANS exceeding FIVE years
1%
83
[Percentage Tax] Banks and Nonbanks Financial Intermediaries: Interest Income from LOANS NOT exceeding FIVE years
5%
84
Banks and Nonbanks Financial Intermediaries: Dividends
0%
85
Banks and Nonbanks Financial Intermediaries: Other income (net trading gains, rentals)
7%
86
Domestic carriers and keepers of garage (transport of passengers)
3%
87
Franchise of radio/and or TV broadcasting companies whose annual gross receipts of the preceding year do not exceed P10,000,000
3%
88
Franchises on gas and water utilities
2%
89
Tax on overseas dispatch,
message or conversation originating from the
Philippines
10%
90
Amusement Taxes: Jai-alai and race track
30%
91
Tax on agents of foreign
insurance companies (fire, marine or
miscellaneous insurance): GENERALLY
4%
92
Tax on foreign insurance companies (fire, marine or
miscellaneous insurance): Owners of property obtain insurance directly with foreign insurance
companies
5%
93
Amusement Taxes: Cockpits, cabarets, night or day clubs (per establishment)
18%
94
Amusement Taxes: Professional basketball games
15%
95
Amusement Tax: Boxing exhibitions
10%
96
Winnings: Actual amount paid for every winning ticket after deducting the cost of
the ticket
10%
97
Winnings: Winnings from double, forecast/quinella and trifecta bets
4%
98
Winnings: Prize of winning race horse owners
10%
99
Purchase or sale of drugs for cancer, mental illness, tuberculosis, and kidney diseases
EXEMPT
100
Percentage tax on international
carriers
3%
101
Percentage tax on international
carriers
3%
102
Sale of a Non-VAT taxpayer to Asian Development Bank
EXEMPT
103
Sale of a Non-VAT taxpayer to International Rice Research Institute
EXEMPT
104
Sale of a Non-VAT taxpayer to Philippine National Red Cross
EXEMPT
105
Sale of a Non-VAT taxpayer to embassies of foreign governments
EXEMPT
106
Sale of a Non-VAT taxpayer to PAGCOR
EXEMPT
107
Sale of a VAT taxpayer to PEZA registered enterprises
0% VAT
108
Sale of a VAT taxpayer to Asian Development Bank
0% VAT
109
Sale of a VAT taxpayer to International Rice Research Institute
0% VAT
110
Sale of a VAT taxpayer to Philippine National Red Cross
0% VAT
111
Dressing services on agricultural products which product is in original state
VAT
112
Sale of a VAT taxpayer to embassies of foreign governments
0% VAT
113
Sale of a VAT taxpayer to PAGCOR
0% VAT
114
Hotels, inns, and lodges services
VAT
115
Lending services of a cooperative
EXEMPT (page 121, BUSTAX book)
116
Out-patient sale of anti-diabetes and hypertension medicine
EXEMPT
117
In-patient sales of medicine
EXEMPT
118
Rent income of a hospital of spaces leased to doctors
VAT
119
Purchase, importation, lease, and sale of a yacht
VAT
120
Importation, purchase, lease, or sale of a private jet
VAT (not intended for passenger or cargo transport)
121
Regional or Area Headquarter of a Multinational Company
EXEMPT
122
Receipts from transport of passengers by international carriers
EXEMPT
123
Receipts from outgoing flights of a domestic carrier with international operations
0%
124
Receipts from incoming flights of a domestic carrier with international operations
EXEMPT
125
Receipts from domestic flights of a domestic carrier with international operations
VAT
126
Services of printers and publishers
EXEMPT
127
Gross receipts from a business owned by a Senior Citizen
VAT
128
Gross receipts from a business owned by a PWD
VAT
129
Receipts from sale of tickets from theaters and cinemas
EXEMPT (they are subject to local taxes)
130
Rent income of a BANK from foreclosed properties (ROPA)
7%
131
Interest income of a bank from short-term DEPOSITS with other banks
7% (Not 5% because it is from a DEPOSIT, not a LOAN)
132
Interest Income of BSP from its legally mandated functions
EXEMPT
133
Pawnshops and Money Changers (Financial Intermediaries without Quasi-Banking Functions): Interest income from loans with maturity period of FIVE years or less
5%
134
Pawnshops and Money Changers (Financial Intermediaries without Quasi-Banking Functions): Interest income from loans with maturity period EXCEEDING FIVE years
1%
135
Pawnshops and Money Changers (Financial Intermediaries without Quasi-Banking Functions): Other items treated as gross income
5%
136
Receipts from tricycle services
EXEMPT (taxed by LGU)
137
Receipts from bowling alleys
VAT
138
Receipts from golf courses
VAT
139
Receipts from billiard halls
VAT
140
Receipts from amateur basketball games
VAT
141
Receipts from concerts of various musical artists
VAT
142
Receipts from operations of illegal cockpit
18% amusement tax (page 165, BUSTAX book)
143
Franchises, in general
VAT
144
Receipts of local water district
2% franchise tax (page 169, BUSTAX book)
145
Franchise of electricity
VAT
146
Franchise of telecommunication
VAT
147
Franchise of transportation (XPN: common carriers by land on their transport of passengers since these are subject to the 3% CCT)
VAT
148
Receipts of water refilling or purification stations selling bottled water
VAT
149
Receipt of premiums of non-life insurance companies
VAT
150
Receipts of insurance and reinsurance commissions
VAT
151
Receipts of Consultants
VAT
152
Receipts of Consultants
VAT
153
Receipts of cooking instructors
VAT
154
Receipts of martial art instructors
VAT
155
IPO Tax on up to 25% of shares sold, bartered or exchanged
4%
156
IPO Tax on up to 25% but not over 33.33% of shares sold, bartered or exchanged
2%
157
IPO Tax on over 33.33% of shares sold, bartered or exchanged
1%
158
IPO Tax on over 33.33% of shares sold, bartered or exchanged
1%
