Question 1

Twelve percent (12%) multiply by taxable base

Response: output VAT

Question 2
VAT is
Response: all the choices are correct

Question 3
Of the following sales by a VAT-registered person, which is not a zero-rated sale?
Response: sale of consigned goods within 60 days

Question 4
Which of the following is not subject to VAT?

m
er as
Response: transport of passengers by domestic common carrier by land

co
eH w
Question 5
Of the VAT paid on the following purchases or importations of a VAT-registered person, which is

o.
not allowed as an input tax credit?
Response: automobiles rs e
ou urc
Question 6
If which of the following is not subject to 12% VAT?
o

Response: International carrier

aC s
vi y re

Question 7
Which of the following sale of goods or property is not subject to VAT?
Response: real property held as capital assets
ed d
ar stu

Question 8
The basis of the 12% VAT on importation shall include the following except one:
Response: value-added tax
is

Question 9
Th

Which of the following is not subject to senior citizen discount?

Response: "pre-contracted" party packages
sh

Question 10
Person required to register as VAT person under the provisions of Tax Code but failed to register
as such
Response: VAT registrable person

Question 11

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 Amount of sale, barter or exchange of goods and supply of services which are subject to VAT
Response: taxable base

Question 12
Which of the following statements is false?
Response: Input tax less output tax equals VAT payable

Question 13
BGC Corporation, a web-based business, sells goods manufactured in the Philippines to OFWs
for delivery to their relatives in the Philippines. The OFWs pays by credit card and the proceeds
are remitted through the Philippines banking system to BGC, the sale is:
Response: subject to 0% VAT

Question 14
Output is

m
er as
Response: taxable base

co
eH w
Question 15
VAT-taxable person is required to register

o.
rs e
Response: all 3 choices are correct
ou urc
Question 16
The final VAT return is reported and made payable to the BIR every
o

Response: 20th of each month

aC s
vi y re

Question 17
ed d

Domestic sale of marinated, frozen, and vacuum pack boneless milkfish is

Response: subject to 12% VAT if gross annual sales exceeded P1, 919,500
ar stu

Question 18
is

Domestic sale of muscovado sugar is:

Response: VAT-exempt
Th

Question 19
VAT on the sale or lease of goods, properties or supply of services by a taxable person
sh

Response: output tax

Question 20
Which of the following is not subject to VAT?
Response: sale of flashcards

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 Question 21
Which is not an onerous transfer?
Response: succession

Question 22
The government or any of its subdivision, instrumentalities, or subdivisions or agencies,
including GOCC's as well as private corporations, individuals, estates, and trusts, whether large
or non-large taxpayers:
Statement A: shall withhold 12% VAT with respect to the payment of lease or use of properties or
property rights to non-residents
Statement B: shall withhold 12 % VAT with respect to the payment for other services rendered in
the Philippines by resident foreign corporations
Response: statement A is correct

Question 23

m
er as
A 12% VAT is applied on the following transactions except:

co
Response: sale of gold to the Bangko Sentral ng Pilipinas

eH w
o.
Question 24
rs e
Which of the following is subject to the 3% percentage tax?
ou urc
Response: sale of services by individuals whose gross annual sales do not exceed P1,
919,500
o

Question 25
aC s

A seller who enters into a zero-rated transaction

vi y re

Response: does not charge VAT on the sale

Question 26
ed d

VAT on the sale that is shifted by a VAT-registered person to the buyer who is also a VAT-
ar stu

registered person
Response: input tax

Question 27
is

Which of the following is not exempt from VAT?

Th

Response: importation of fingerlings

Question 28
sh

Who is not a VAT withholding agent?

Response: employee under an employee-employer relationship

Question 29
If the lease of residential units where the monthly rental per unit is below P12, 800, then it shall
be subject to 12%VAT. Is this statement correct?

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 Response: No, it is exempt from VAT

Question 30
Which is not a major business internal revenue tax?
Response: donor"s tax

Question 31
Which is not true?
Response: registration fee os payable on or before January 31 of every month

Question 32
Creditable input tax may be increased by:
Response: excess input tax for the previous month

Question 33

m
er as
Which is not true about presumptive input tax?

co
Response: Presumptive input tax is creditable against the input tax

eH w
Question 34

o.
rs e
Each of the following is subject to 12% VAT except:
Response: transport of passengers by international carrier doing business in the
ou urc
Philippines
o

Question 35
aC s

VAT is
vi y re

Response: all answers are correct

ed d
ar stu

Question 36
is

Amount of sale, barter or exchange of goods and supply of services which are subject to VAT
Th

Response: taxable base

Question 37
sh

If the lease of a residential unit where the monthly rental per unit exceeds P12, 800, then it shall
be subject to 12% VAT. Is this statement correct?
Response: yes, but the aggregate rentals should exceed P1, 919,500

Question 38
Which is not true?

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 Response: in a VAT-exempt sales, purchases from VAT-registered persons are allowed input
tax

Question 39
The residential unit where the lease or monthly rental per unit is equal to or less than P15, 000
is exempted from VAT. The "residential unit" refers to here is
Response: lodging houses

m
er as
Question 40
Which of the following transaction is not subject to VAT

co
eH w
Response: sale of real property not primarily held for sale to customers or held for lease in
the ordinary course of trade or business

o.
rs e
ou urc
Question 41
Person engaged exclusively in the business of selling goods and supply of services that are
exempt from VAT
o

Response: non-VAT person

aC s
vi y re

Question 42
Which of the following is exempt from VAT?
Response: transfer of PCGG to private individuals in a sale at a public auction
ed d
ar stu

Question 43
Which is not VAT-exempt?
Response: services rendered by doctors of medicine duly registered with the PRC
is
Th

Question 44
Which of the following is exempt from VAT?
Response: sale of pharmacy drugs or medicines to in-patients
sh

Question 45
Which of the following is not subject to senior citizen discount?
Response: prosthetics

Question 46

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 VAT is
Response: both "A" and "B" are correct

Question 47
Which of the following is not subject to a senior citizen discount?
Response: e-cigarettes

Question 48
Individual, trust, estate, partnership, corporation, joint venture or cooperative or association
who makes or intends to enter into taxable transactions for which he/it is liable to pay VAT
Response: VAT-taxable person

Question 49
Who is not engaged in business?

m
er as
Response: a seller of his residential house

co
eH w
Question 50
"Input" from the perspective of the purchaser

o.
Response: taxable purchase
rs e
ou urc
o
aC s
vi y re
ed d
ar stu
is
Th
sh

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