CHAPTER 2- VALUE ADDED TAX ON IMPORTATION

Multiple Choice: Theory- Agricultural or marine food products: Part 1

1. Which agricultural product is VAT exempt on importation?
a. Charcoal
b. Wood
c. Lumber
d. Corn
2. Which importation is subject to VAT?
a. Importation from abroad.
b. Purchase of goods from economic zones in the Philippines
c. Both A and B
d. Neither A nor B
3. Which is not subject to VAT on importation?
a. Importation of goods for personal use.
b. Importation of goods fro business use.
c. Purchase of goods from Ecozone entities.
d. Purchase of goods from other domestic sellers.
4. Which of the following is subject to VAT on importation when imported?
a. Books
b. Table sugar
c. Mushroom
d. Ordinary salt
5. Which is non-food agricultural product is exempt from VAT on importation?
a. Chicken manure
b. Eggs
c. Live hogs
d. Cattle

1 D
2 C
3 D
4 B
5 A