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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
Citation preview
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
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)