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a. Charcoal
b. Wood
c. Lumber
d. Corn
a. Books
c. Mushroom
b. Eggs
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d. Cattle
a. Grapes
b. Orange
c. Orchids
c. Copra
d. Firewood
9. Which is vatable?
:
a. Sheep
a. Wheat
c. Barley
d. Cocoa
a. Honey
c. Furniture
a. Rubber
b. Corn
c. Cacao
d. Peanut
18. Feeds of the following animals are considered as specialty feeds, except for
c. Livestock
:
b. Eggs
c. Hamster
d. Leather
a. Almonds
b. Blueberries
c. Peanut
a. Rabbit
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b. Parrots
c. Goldfish
d. Milkfish
a. Ducks
b. Geese
c. Turkeys
a. Cow
b. Rabbit
c. Goat
a. Fertilizer
b. Pesticides
c. Seeds
d. Seedlings
10. The following are generally considered as pets hence vatable when imported except for
b. Goldfish
c. Catfish
:
a. Kelp
b. Octopus
c. Squid
d. Shrimps
a. A and D
b. B and C
15. Which of these agricultural products is not considered as in its original state?
a. Kopra
16. By revenue regulation, which of the items below is not considered original state?
c. Butter
a. Freezing
b. Stripping
c. Broiling
d. Marinating
20. The following advanced technological means of packaging is deemed not to alter the nature of an
agricultural marine food products being in original state. Which is the exception?
a. Canning
b. Vacuum-packing
d. Tetra-packing
:
a. Importation of personal and household effects of residents coming to resettle in the
Philippines
c. Importation of personal and household effects which are subject to custom duties
3. The importation of professional instruments and implements may be subject to VAT when the
b. Goods accompany the person or arrive within 30 days before and after his arrival.
a. Sea
b. Air
c. Land
:
:
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d. A and B
a. Bus
b. Cars
c. Vessels
d. Aircraft
a. C and D
b. A and B
7. Which importer is exempt from VAT in importation of fuel, goods and supplies?
8. Which of the following items is subject to VAT on importation to an individual who is intending to
settle in the Philippines?
a. Vehicles
9. The importation of fuel, goods and supplies is not exempt from VAT when used in
:
a. Vatable.
c. VAT exempt if the importer complies with maximum service life set by law.
d. Vatable if the importer complies with maximum sevice life set by law.
12. The importation of fuels, goods and supplies for domestic shipping or air transport operation is
a. Vatable.
13. The importation of farm machineries and equipment is exempt when imported by
d. A or C
14. Who has the burden of proving exemption from VAT on importation?
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:
c. Importation of cargo vessels and aircraft by those engaged in international transport
operations
a. Purchase of services from a foreign service provider who is not engaged in business
b. Purchase of goods from a foreign service provider who is engaged in business abroad
18. Who shall pay the VAT on importation when a VAT on importation when a VAT-exempt entity
subsequently sells an imported article or goods to a non-exempt entity?
:
d. VAT
b. All incident cost of bringing the goods to the customs warehouse
c. Taxes other than VAT paid prior to the withdrawal of the goods
d. Cost of transporting the goods from customs warehouse the importer's warehouse or
residence
Total P440,000
a. P0
b. P120,000
c. P200,000
d. P320,000
2. Mr.A imported various personal and household effects with a value aggregating P400,000. P320,000
of these was subjected to a 8% customs duty by the BOC. What is the VAT on importation?
a. P0
:
:
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b. P41,472
c. P42,240
d. P48,000
Landed Cost
Books P 350,000
Total P 900,000
a. P 0
b. P 66,000
c. P 72,000
d. P 108,000
4. Mr. C, a VAT- registered food retailer, imported the following from China:
Landed Cost
Fruits P 250,000
Vegetables 180,000
Total 580,000
a. P 0
b. P 12,000
c. P 51,600
d. P 69,600
:
Landed costs
Total 1,400,000
a. P 0
b. P 27,000
c. P 150,000
d. P 168,000
Landed Costs
Seeds P 400,000
Fertilizers 750,000
Total P1,850,000
a. P 0
b. P 42,000
c. P 72,000
d. P 84,000
Furniture P 600,000
Rattan 250,000
Lumber 450,000
:
:
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a. P 30,000
b. P 72,000
c. P 156,000
d. P 204,000
8. Mr. Huligan imported rice from Viertnam. Details of his importation show the following:
a. P 0
b. P 120,000
c. P 126,000
d. 128,400
a. P 0
b. P 36,000
c. P 42,000
d. P 102,000
10. The following data relates to the importation of cigarettes by Mr. Shinto:
:
a. P 120,000
b. P 156,000
c. P 180,000
d. P 216,000
1. Don Pepito imported a harvester from the United States with a total cost of P 1,100,000
before Customs duties. The importation is subject to 10% Customs duties. What is the VAT on
importation?
a. P 158,400
b. P 145,200
c. P 129,600
d. P 0
2. In the immediately preceding problem, assuming that the importation is made by an agricultural
cooperative, What is the VAT on importation?
a. P 158,400
b. P 144,000
c. P 129,600
d. P 0
Books P 600,000
Total P 1,500,000
:
:
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a. P 0
b. P 900,000
c. P 1,200,000
d. P 1,500,000
4. Mr. Juan Manuel Marquez arrives in the Philippines with an immigration visa. He had with him the
following:
a. P 0
b. P 200,000
c. P 300,000
d. P 550,000
5. Mr. Xhi, a non-VAT taxpayer, made the following domestic purchases of goods:
a. P 0
b. P 24,000
c. P 96,000
d. P 120,000
6. Atlantis Shipping Company imported P 3,000,000 worth of vessel fuels and supplies for domestic use.
The company earmarked 60% of this for domestic use while 40% is reserved for its international
operations.
:
a. P 0
b. P 144,000
c. P 216,000
d. P 360,000
7. Mr. Beer, a VAT- registered trader, imported an equipment with a dutiable value of $40,000 from
abroad. The importation is subject to P 100,000 BOC charges before 10% customs duties on dutiable
value. The exchange rate to the peso was P 43.00:$1.
a. P 218,400
b. P 227,040
c. P 232,400
d. P 239,040
8. If an importer paid 15% customs duties in the amount of P 24,000 plus P 134,000 charges in the
Bureau of Customs, what is the VAT on importation?
a. P 0
b. P 18,960
c. P 35,280
d. P 38,160
a. P 0
b. P 81,643.20
c. P 91,032.00
:
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$
d. P 98,935.20
10. Mr. Dolinger imported various merchandise from abroad. The importation was invoiced at $ 5,000.
Mr. Dolinger also incurred the following costs of importation:
Insurance P 4,000
Freight P 15,000
Mr. Dolinger was also assessed P 24,000 and P 18,000 customs duties and excise tax, respectively. The
applicable exchange rate was P 42.50:$1
a. P 25,500
b. P 30,540
c. P 35,100
d. P 35,700
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