Documentos de Académico
Documentos de Profesional
Documentos de Cultura
1) Regular/Habitual
More than 1 isolated transaction
Repetition & continuity of action
Exception to regularity (NOT regular activity BUT
theres business tax)
a) services rendered in the Philippines by NRA
b) importation of goods for personal use (subject to
VAT)
c) single sale of shares of stock (domestic corp.) thru
stock market (subject to OPT)
d) single overseas communication (subject to OPT)
e) single horse race winnings (subject to OPT)
f) incidental transactions
2) Economic Activity/
pecuniary estimation
Commercial Activity
flow of commodity
Purpose: profit/income
Exception to regularity (NOT economic/commercial
activity BUT theres business tax)
a) importation of goods for personal use (subject to
VAT)
b) overseas communication
c) Annual Gross Receipts/Sales must exceed 100k
lease of property
Exempt Transactions
NO tax credit/refund
for input taxes are
allowed
NADZ
(exclusive of VAT)
*{acquisition costpurchase price (not payments actually made)}
NO
OUTRIGHT
input VAT is
deductible at full
amount from output
VAT in the month of
acquisition
YES
3) Presumptive (4%)
purchase of VAT exempt primary agricultural &
marine food products at their original state which are
used as inputs to their production
sardines
refined sugar/sugar cane
mackerel
cooking oil
milk
packed noodles
4) Transitional (2%)
from VAT registered suppliers ONLY
non VAT registered suppliers (actual 12%)
OPT of 3% should be deducted from output VAT to
avoid double taxation
dont forget to deduct input tax on purchases (12%)
if theres any
HIGHER between:
Beg Inventory (end inv before) of 1st time VAT payer
Actual Input VAT
SPREAD
over:
60 months
SHORTER
useful life
VAT registered
person
12% VAT
0% VAT
VAT exempt
INPUT VAT
Creditable against output VAT
Input tax credit against output VAT of VATable
transactions(regular VAT sales)/eligible for tax
refund/issuance of TCC
Cost of sale/OPEX
exempt from 12% VAT BUT if issued with
VAT invoice, shall be subject to 12% output
VAT;ONLY the portion of VAT exempt sale with
VAT is allowed to have input Vat
2) VAT on Importation
importation of goods in the Philippines (whether
personal/business use-except VAT exempt
transactions)
a) in general
Total Value for tariff & custom duties*
Custom Duties
Excise Tax
Other legitimate charges prior to the release of
goods from customs duty_______
_______
TAX BASE
X 12%
VAT on Importation
*(dutiable value--determined by BOC)
NADZ