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TAXATIOIT 1. VAT- !!. t TX - 301: VAT-Subiect Tra,ntaciiong TA}IAYO/GARCIA VAT. Traneactions Trr tlr(? a. Sale of oood-s or dromrties in the course of tradeor business Gross sellinq orice b. Sale of services and lease of properties in the course of tradeor business Gross rcceipts c. Importation Total larded cost The phrase Yn thc'ottr* of tn& or httlnso meansthe fegular A!q!ct_-glpgrsC!! of a comrRercial or an economic activity including tranr incidentaltherefo, \y anyE@-rqardlless of whether or not tlrc person economic activity including transactions incidenlqllherelo,by anyE4rqardlless of whetheror not tlrc person engaged therein is a non-stock,-fr-6rFprofit private organizabon (irrespective of the disposrtion of its net incomeand whether or not it sells exclusively bomembers or {tetrrewsts), or government entity. The ruh of regularity, to the contrary notwitlstanding, servicr as denfledin the Tax Cod€Grdered in fie Philippines by in the course oftrade or fiUsine co*l' 4n{ u**t' ffi.*' ofVAT Output tax )c<x Less: Input tax s'x - VAT paVable nu, u- / Outputtax )o(x ' Less: Input tax ( ruX) -- Excess ihDrrt ttr (rog) C.4 fu4"A*V.,.I hrx TX-301

VAT Subject & Exempt TransacVAT Subject & Exempt TransacVAT Subject & Exempt TransacVAT Subject & Exempt TransacVAT Subject & Exempt TransacVAT Subject & Exempt TransacVAT Subject

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VAT Subject & Exempt TransacVAT Subject & Exempt TransacVAT Subject & Exempt TransacVAT Subject & Exempt TransacVAT Subject & Exempt TransacVAT Subject & Exempt TransacVAT Subject & Exempt TransacVAT Subject & Exempt TransacVAT Subject & Exempt TransacVAT Subject & Exempt TransacVAT Subject & Exempt TransacVAT Subject & Exempt TransacVAT Subject & Exempt TransacVAT Subject & Exempt TransacVAT Subject & Exempt TransacVAT Subject & Exempt TransacVAT Subject & Exempt TransacVAT Subject & Exempt TransacVAT Subject & Exempt TransacVAT Subject & Exempt TransacVAT Subject & Exempt TransacVAT Subject & Exempt TransacVAT Subject & Exempt TransacVAT Subject & Exempt TransacVAT Subject & Exempt TransacVAT Subject & Exempt Transacv

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  • TAXATIOIT

    1. VAT-

    !!.

    t

    TX - 301: VAT-Subiect Tra,ntaciiongTA}IAYO/GARCIA

    VAT.Traneactions Trr tlr(?

    a. Sale of oood-s or dromrties in the course of trade or business Gross sellinq oriceb. Sale of services and lease of properties in the course of trade or business Gross rcceiptsc. Importation Total larded cost

    The phrase Yn thc'ottr* of tn& or httlnso means the fegular A!q!ct_-glpgrsC!! of a comrRercial or aneconomic activity including tranr incidental therefo, \y anyE@-rqardlless of whether or not tlrc personeconomic activity including transactions incidenlqllherelo, by anyE4rqardlless of whether or not tlrc personengaged therein is a non-stock,-fr-6rFprofit private organizabon (irrespective of the disposrtion of its net income andwhether or not it sells exclusively bo members or {tetrrewsts), or government entity.The ruh of regularity, to the contrary notwitlstanding, servicr as denfled in the Tax Cod Grdered in fie Philippines by

    in the course oftrade or fiUsine

    co*l'

    4n{u**t'

    ffi.*'ofVAT

    Output tax )c

  • qf dre Tax Bace and the Anpticablc Tax RatesTransacdon i r . Tex Rate

    \

    xxxxrc(XXX XXX

    )fixps&(x

    12oh or 0o/o

    b. SA|e of rcal propcrticsbn instaflment plan(initial paymrts do, notexceed 2506 ofthe grossllins price)

    Installment receivedAdd: Interest

    datties for late paymentTax base

    XXX)oc( )0(x

    ps

    XXX l2a/o Or 0o/o

    on .cas-h bisti or

    defcrrd payment flar(iniual paymerts excee(25o/o af thb gross sellinlprhe)

    120,t or 0%

    d. Saldf rervlenc(

    Grors receipte snFrted ts fiolhrc-Cash received (actudly and constructively)Mvancr payments for future projeictsMateriaf s charged, wS the servies (fapart b, (**)Groec recipts (cxcinrling VAT)

    tl@ RecivaHes, although earned, are not inclu&d.ffi

    120,6 or 090

    )oo(xYx

    Grocs recclg: corfi6ttld at fomorcl-Gross sdling gkeLess: Acquisitldn coat of securities sold for the montr or quartrEafanceAdd; fther or incirjental incomelo.c rGoGlD& (:xdndtm YAT)

    xxxlas

    LZa/o or Qo/o

    L2o/o U 0o/of. Gtm rtoffi on ttos.h-ot mcfficnytryggnrrrmn,tratrr||tsrbil rrlddffifhHollsomp.nb

    e. In gcrar.Total'valueAdd: Custirms duties

    Ercise tax xxxOUer charges Eiorto retease of ooods from

    r-, ,r._ Cusomscuffiff- gxTar bescb. In crrc.wh*e cusihi drlUco b trcd on rplumc or qurnfityTotal lahded cost^dd,

    ;;;;f,r*r.**r )ouTer brc 3lr&

    &xxs

    t2oh alrclt

    of TaxesSalc of goods or propertis stf"e-St-ecllbC qrd lrre of propirties

    a. Acuar reguEr sles

    with the

    TAXATION * VAT on Sale of Goods or prooeriiesf eA?iH-te r

  • 13. Ecrrnad

    14.

    41^, V'.. ltrt lr.-tJ'Ar^t i. orod. tf.-'t^tb^' TX-301 wTAXATION - tAt o; Sate of Goods or Proprties(BATcH 26)

  • S.b ofcoodr or FreDcrdcc sa|3 oil Scirdoo or LcrrG of Fwarthea, Tax bare Gross sellino price (accrual basis) Grws reaaits (cash ba*s)b. Sours'of ou$ut a. Actual regular sales

    b. Actual zero-rated salesc. r I IT sales

    a. Actml re$.rlar sabsb. Actual zero-rated sales

    Sumrtary of tfi Dffftttn46 Bctween Salc of Gmds or Propdrtbc and Sdh or Lease of

    P3,000,000 AR

    2,000,000 Aie500,000 &200,m0DS100,000 Dr

    information taken from th books of a VAT*egistered enterprise was provided to you;Domestic sales of goodsSaled of packagingmaterials to an export oriented errterprise wfiog export sates

    12% rate? (ew

    w'tb

    .4tw

    r P500,000r/ 300,0@ I

    I,tF198,000 \

    / 100,@i

    P 5oo,o0o af1,00o,000/.

    300,000'z700,(x)o

    400,000

    209,000' I rF

    P200,000 IBy'.100,000 x|rt.100,000 rtrt.

    100,000100,000 I100,000 r u /.

    i .

    .wl.IOAOt2@

    tL@

    Lm

    [email protected].

    lf,rd[P

    imported articie was Y1,000,0'00 (Y1=P0P15,0@11-0,000 |5,000 |7,000 l8,000 [25,000,

    . 3;000P50,O0Qf'ustoms ttuties and to P30,000r6xcise tax. Flow mucft was the VAT on

    'la

    ..n".\

  • Leooo/TAXATION

    1. VAT

    TAMAYO/GARCIA

    {r l6-"t 1/Transaction Under Section

    TX-3{6rA t* lu",at^lltt,WYa W V |sr,P' h-lt

  • (2)(3)(4)

    covereif$-mftIF5-o-n-Sresholfamount not being'a regidential lot, house and lot or a residentialdwellinc. thus, shouH ba$fiiertto'VAT reqardless of the arnount of sellinc price.

    xempt lease ofproperties

    Exempt sale of goodsExempt sale of servicesExempt imoortatiDn

    6

    R.A.No,9295,

    T4l

    Exemff sale of groodsExempt importauonExempt lease ofproperties

    F*tthta.

    (u) Importation of capital equipment, machinry, spare parts, life-saving and navigationa[ equipment,

    4-2007)ExemS irnportatbn

    carooes thai riltqiFild.fnorn alffiiJ. orF:M-aaqsengtr-s a;d/or carooet bound for abrcad:Provided fur$r, that if 'any mrtion of suctr fuel,'gpsds.or-$"pjic6 &gsed for purposes other thanthat mentioned in this paagraplt, such lirel, qpods and supplles shal! be suqect to [2% vAT; ,

    -(w) Servims of ba-r*s, non:bpnk fifarrcial internediAries oerformipgguag:Ua0king.&nffilt and qthefnon-banF finirgial intemcdiade+ *r{t s mffiy cfiangBrs and pawnshopa, subject to percentaggtax urder Secs.:121 and 122, regoectively, of the Tax Code; and

    (x) Sale or lease of:1goods or propertbs or-the perfurmance d sefoices-other than the transactions ncrfrioried rn the preceding paragraphs,-the, orsslannual sales ard/s.gteists cb not'exceed thgamsunlolXt.gl9.S0o (used to be

    Exempt sale of goodsExempt sale of seruicesFxempt lease ofproperties

    (Provided, that every three {3) years 'ttErcaftei, the arnount herein strd shall be.adju$ed tq itspresent value u$nE the Consumer Prlce lnlex, as published bry lhe N$O. Prrovided, fur$rer, that suchadjustment shall be pubbShed through revenue regulatront td be is$uad not later'than Flirch 3t ofeach year.

    P1,500.00q]:

    For the purpose of the threshold of P1,919,500 (used to beP1.500.000), the

    included in detennininq the threshold.

  • RsSA:2. Exercises

    TAXATION: VAT - EXEMPT TRANSACTIONS (BATCH 26) fTr\r t 'le)