TRANSACTIONS DEEMED SALES

1. TRANSFER USE OR CONSUMPTION NOT IN THE COURSE OF BUSINESSS OF GOODS ORIGNALLY

INTENDED FOR SALE OR FOR USE IN THE COURSE OF BUSINESS.
2. DISTRIBUTION OR TRANSFERRED TO SHAREHOLDERS OR INVESTOR IN THE PROFIT OF VAT
REGISTERED PERSON, CREDITOR IN PAYMENT OF DEBT
3. CONSIGMENT OF GOODS IF ACTUAL SALES IS NOT MADE IN SIXTY DAYS FOLLOWING THE
GOODS WERE CONSIGNED (CONSIGNMENT OF GOODS)
4. RETIREMENT FROM OR CESSATION OF BUSINESS WITH RESPECT OF INVESTMENT OF TAXABLE
GOODS EXISTING AS OF SUCH RETIREMENT OR CESSATION

TRANSACTION EXEMPT FROM VAT (SECTION 109)

1. BASIC NECESSITIES
EX. AGRICULTURAL MARINE AND FOREST FOOD PRODUCT IN THEIR ORIGINAL STATE.
A. , FISH VEGETABLE, EGG, CHICHEN, RAW MEAT, FRUITS, RICE
2. TUITION FEE OF SCHOOL AND UNIVERSITY
3. LENDING ACRIVITIES
EX.
4. SALE OF REAL PROPERTIES UNDER SOCIALIZED HOUSING (RA 7279)
5. TRANSPORTATION BUS, JEEP, TAXI
6. SALES OF BOOKS
7. SIMPLE PROCESSES GOODS, DAENG TUYO

SUBJECT OR NOT SUBJECT TO VAT

1. SALE OF AGRICULTURAL, MARINE AND FOREST NON-FOOD PRODUCT IN THEIR ORIGINAL STAT

SALE OF FLOWER, BAMBOO, WOOD OR LUMBER – SUBJECT TO VAT

SALE OF COTTON AND COTTON SEED – SUBJECT TO VAT

2. SALE OF GOLD TO BANKO SENTRAL – EXEMPT FROM VAT PREVIOSLY IT WAS SUBJECT TO 0
PERCENTAGE VAT
3. EGALAM-SALE OF MEDICINE TO SENIOR CITIZEN OR OTHER PRIVILEDGE SHOULD BE ENJOYED BY
SENIOR CITIZEN-EXEMPT FROM AND
4. FOREIGN CURRENCY DENOMITED SALE
5. EXPORT SALE –
6. IMPORTATION- LANDED COST, EXCISE TAX
7. GIVE EXAMPLES OF ZERO RATED SALES-SAMSON
8. INPUT TAX ON DEPRECIABLE ASSET
9. TRANSISTIONAL INPUT TAX-VENTURA
10. PRESUMPTIVE INPUT TAX
 1. PROBLEM ON CONSIGNMENT SALE

THE COMPANY HAD THE FOLLOWING DATA IN 2020

SALE OF GOODS…………………………………………………. .P 340,000
CONSIGNMENT SALE:
REMITTED SALE…………………………………………………. .60,000
CONSIGNED GOODS IN THE HAND OF CONSIGNEE FOR
MORE THAN 60 DAYS………………………………………………………….100,000

1. HOW MUCH THE INPUT TAX? IF VAT EXCLUSIVE P _____________

2. HOW MUCH THE OUT PUT TAX IF VAT INCLUSIVE ______________

PROBLEM 2
THE COMPANY HAD THE FOLLOWING DATA:
DOMESTIC SALE………………………………………………………………………………..1,000,000
PURCHASES OF GOODS FROM VAT MEMBER……………………………………….500,000
PURCHASES OF GOODS FRON NON-VAT MEMBER……………………………….200,000

1. HOW MUCH THE INPUT TAX? _____________

2. HOW MUCH THE OUTPUT TAX ____________