Nature ‘ty. ama (October 2018) vat | 1) Asinss ta. Infect estles te 2) Init tx.~ burden can be sited by he seller vote buyer 3) Imposed: "One gro sling pre il, taro exchange fp ropes (0) One gra rep isl fervent eso we f ropes (© One vale rane con tporttin of gods, oan How Computed? Tax Credit Method: Output Taxless Input Tax ‘Summary of Tax Consequences of VAT-Taxable and VAT-Exempt ‘Transactions [—"Kisd of remains ——[——~ "Tas Comequences 4 ‘A. VAT Tunable wanton: | 1. Sales or leases axed sta) Soir ibe to VAT a 12%, | 2% () Sel seated wo ipa cet (6) Sell pays exces of upton int tat the BIR, @) Sale ean caryaver exes input tes fo sored quer) 2 Sales or ese taxed 0% ‘pert. (0) Sellers subject to VAT w 0%, () Sle is ete inp wx rei (6) Selle ca cam refund or x rot for inp es empl ensactions (a) Seleris exempt om VAT: | (by Sele canot separately bl outpt inxs customers; (c) Sel is ot ned to inpt tx credit: (8) Sele shal beable to VAT it he eves VAT invoice or ‘cup bu witout the benefit of input x rit.‘ty C, Lima (Octobe 2018) REGISTRATION FOR VAT ‘Mandatory Regatraton ‘Optional Registration TY Gio seven al lines oF aa 1 An peo who not subjet to ano | otk pet 2 mas | ngitaion bec He cal exec eee 0,00 igs salsreops rom namexempt rinses for the past 12 ions do ot | denen 00 00. eee 2 apes alee Tr ie ve 122) Any Valente en who as ote ‘month fom all ‘ines of onceazmpt| ines of busines which are VAT exempt esac exced 3,000 000, Tho VAT-exenp usnss Pus tbe ie saa ie of business. Noe n (1) and (2, the reiting stall be imeweale forthe we 3yeas 3) Franchise ganies of tdi andlor TV) 3) Fanchise ganze of radio undior TV troadeasing whose annul tle for the broaating whose anal sles “P10 M. | lust table year excond 10000000, | Note: Regain i neve | oct Te VAT ged pon init See: THe cues or clint of e| Departs ‘apr wil be ew ele | Ar palsy aig apt | ro om te pcs fe ——|__taspeyer._ Note 1 Restrain is equie for every spate odin exabishnent or place of business here ales tosactons ova exeept x chose witha ses sactons, 2) Bach VAT ester person shal easy ae (1) TIN. The brane sale the 9- Aig TY of the bead fie +a gto cose 3) For those who ae nt reseed, at boca Hib to VAT? ‘A.non-VAT taxpayer who ints prsnned ht hie pose ssi ps ater non ‘operating income for the sable year wl exced the P00 0 VAT theo Bt has actuly exceed the save Ging he fvale yea, ball amatatly pat his egitation fo retet th change in tx ol lm er-VAT Wo VAT faa, He i required o update bisregisiacon imme within the mow flowing the sons he exceded the VAT desl And be salt te lable VAT starting onthe Fist ay ote eth lew te mat we he esl i bead 4) Aamsal sittin fe! 00s ante xin oof asin wht sales [Cooperave ar exempted tom he epoaton ee 5) VAT Registration Cerifese ant Reystation Fee Retun mut be posted in a conepicnous place inthe ac of bie "Vai inn oaReoik‘Ny. Lama (Deter 2018) [fect of Fallure to Register by Persons Required to Do So 1) Liable o VAT on heir ses: 2) Noinp VA eres on thc prcases, 5} Cannot sepanely il ouipu VAT fo cstomer In ther words, the taxpayer anno Abillthe VAT but oi casos, 4) ics and sanctions (OPLAN KANDADO: suspension of peat or clone of business >S days). | Cancellation of Reglstration AVA eit person may cael his VAT giao i 1) He makes 1 writen aplication showing that hs yross sles o ects (excluding exempts) inthe eat 2 rons sl ol exceed 3,000,000, or 2) Heceases business 3) Theresa change in onnesip in the cas of singe priori, 4) Dissolution ofthe patti or corporation, 5) Merge o consolidation with expt tthe daslved corporation; ©) Fare o actly stat busines 7) Biaies beams exe {A peson Hho voll ete andthe ple caso ar he las of yeas, 9) A'VATegitered person whose gross sles or receipts for 3 conscsive years did ot exceed 00,00 begining naar T, 2018 7 Persons Subject to VAT 1) Those engage in the sling esing of gods, ropes, or services pl fo ‘VAT and eter eas ofthe eel fale 2) Those engaged in the sling o easing of gods, properties or series subst t2 VAT, whose gost sles of recs ding the year or In any T2-nonth pesiod what or wt rier, Note: For purposes ofthe thesbol! of 3,000,000, husband wife shall be owsidered sepa taxpayer 3) Those who ae VAT epsred and who have VATT-sxamt business which they shoo ore ander the VAT-ntem, repules of eel of sales 4) Franchise games of ro andor TY brads howe gos anu ecs do ‘not exceed 10 Million, but are registered; owe 5) Importers of gonds-subest to VAT. whether oF notin the course of tae or snes, regu ofthe amon of purse. Note: Unless specially exer bylaw, even a nonstoc, non oft ngaization or ‘goverment ety sible wo pay VAT onthe sale of goods cr sevies. As long 1 the entity provides gods o sevioes fra fee, rmerton or consideration, then such sales subject VAT. The exempt bsnes() mat be minor ine of bans of VAT seer pence