Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
(except any vehicle, vessel, aircraft, Provided, further, That vehicles, vessels,
machinery other goods for use in the aircrafts, machineries and other similar
manufacture and merchandise of any goods for use in manufacture, shall not
kind in commercial quantity) fall within this classification and shall
therefore be subject to duties, taxes
and other charges;
VAT-Exempt Transaction
Before Train Under Train
Threshold for VAT –exempt sale of VAT –exempt sale of residential lot
residential lot is P1,919,500 reverted to P1,500,000
Threshold for VAT –exempt sale of VAT –exempt sale of house and lot and
house and lot is P3,199,200 other residential dwellings reverted to
P2,500,000
Case 2
Rent per unit per month 15,000 15,000
Annual gross receipts 3,500,000 3,500,000
VAT-subject ? ?
VAT-exempt ? ?
Apartment Commercial
house bldg.
Case 3
Rent per unit per month P20,000 P20,000
Annual gross receipts 3,000,000 3,000,000
VAT-subject ? ?
VAT-exempt ? ?
Case 4
Rent per unit per month 20,000 20,000
Annual gross receipts 3,500,000 3,500,000
VAT-subject ? ?
VAT-exempt ? ?
If two or more adjacent residential lots, house and lots or other
residential dwellings are sold or disposed in favor of one buyer from
the same seller, for the purpose of utilizing the lots, house and lots or
other residential dwellings as one residential area, the sale shall be
exempt from VAT only if the aggregate value of the said properties do
not exceed P1,500,000 for residential lots, and P2,500,000 for
residential house and lots or other residential dwellings. Adjacent
residential lots, house and lots or other residential dwellings although
covered by separate titles and/or separate tax declarations, when sold
or disposed to one and the same buyer, whether covered by one or
separate Deed/s of Conveyance, shall be presumed as a sale of one
residential lot, house and lot or residential dwelling.
Lot 1 Lot 2 Lot 3
Value of the lot P800,000 P900,000 P1,000,000
Sold to Mr. A Mr. B Mr. C
VAT-subject ? ? ?
VAT-exempt ? ? ?
Case 2
Gross receipts, practice of profession 1,800,000 -
Gross receipts, beauty parlor - 1,200,000
Gross receipts, trucking business 1,500,000 -
Gross sales, grocery store - 1,500,000
Gross sales, agricultural food products (orig state) 1,200,000 -
Gross sales, livestock - 1,300,000
Total 4,500,000 4,000,000
VAT-subject ? ?
VAT-exempt ? ?