= ‘ye TAXREWIEWER MULTIPLE CHOICE QUESTIONS 1. VATS imposed om. I. Sale of goods or preci notin the cours of busiest Ti, Sele of goods or properties inthe course of basins I, Importation af goo properties in the cours of business 1. Importation of gods or properties not inthe course of business and only. Lan IV only tL ane MLony LIL and. RoeD 21. Whos statutorily Hable fo the payment of VAT? Soller Bayer 2 Soloror buyer adhe option ofthe goverment 8. Salerand bayer 8, Yoo student atthe Reve col of Caring Ector (RSSCARS) She sold er unused sPhone to her rend for F300, ane with those ‘mount he saved FIO. ee spent F2DI0 to Buy 3 cheaper phone. How much Yoon's VAT pays 2 Yona nat ngage in sass 0 Yoon snot VAT. 1200 orp a 2 fh amount she hsv ‘Ltn, compu 128 of the poe th er rend ought the Phone ‘Stren A prvi tor tet ue to VAT. Setemant > fs are ergs ina busine cry daring a eat ‘Rat nt for one wes salle matjetto VAT Valuo Added Tx Steet A pig sore opetor ent requ to i peo ‘Ser: piles se operation ot eid le nine Pap Saesent te Oyen? ee 2. Behance enor ine 6. Inoue tobe ajo tothe requirement of VAT egstaton a Basins Grose esp excsding P0000 Gomes oredr of set F3,00000| Gras sls or resp other than those that are eerpt und ‘Sion 109, ceding P3000,00, 4. Gros sae o ecole than those that re exept kt Section 103 feast P3000 7. Welch aman the ftlowing txpayers can aval ofthe 8% fat se Income 2) A sonVAT repsoed toxpayer whose annual VATsubjet ss ‘ler or exp excnt P3000 000 1b A nonWAT registred taxpayer whose anal VAT-subject as ‘sales expt do ot enced 3.000000 AVATreptered tapayer whose anal VAT subj grosses ‘epee 3003000 4. AVAT reper tnpoyer whose annual VAT subj oss 6 recip donot xed P0000 Opin repseaton for VAT revocable na pris of 2 One() yar These yeas © Fre @)yean Seven hears“TWeTAXREWEWER 9. Which ofthe following taxpayers is barred fom cancaing i optons VAT registration? 4 Iaterational common carers 1b Operators of amusement paces © Exportoriened enterprise {4 Radiosnd television ances 10, The VAT on importation spi 2 The nonresident ser monthly 1 The seident buyer monty .Thenorrreaient aller bore rele of goa om cums casey {& The resident buyer before release of goods rom tons cus 1 Statement: Incidental anise rarscions ny bese to VAT. Siaternent 2 A VAT tgiteredsapermara ling general ‘rerun lls ora of sath epee, The leet VAT. ‘nly Statement Only Statement 25 eae 12 Soement: Ale notin the our of ade basis generat bjectto VAT, Statement > An importation not the couse of eae o uss several pot subject to VAT. 2 Only Staten ie ue 1, Onipstatement 26 oe 1 Boshtetements re ot us 18, Gros selling rie isthe appropiate VAT befor: Sale of gos oe properties 1B. Ste otsevies Importation ‘4 Leseor properties Vale Add tex 1. Gesapsish appropiate VATbasefoal ofthe allowing, exp 2 Slee Leseal ope 4. Ingoraon 15 ae of er, le or xhnge of eal Feperty, pos sling pc 2 Zot var ses alu whichever higher. 1 Faria or coadetion whichever = Nes Zonal var osderaton whichever phe Appeal vale ora ake, cee higher 1 Stent :fan Be sl jt both ve add ox ad ec ta th psig pene te exis tx Fe ‘Sauer Gr eng rie th stout of any resin by he slrinasestatcon, 2 Orpen iste ny stem 2iton that ae 4. Botsoemensaze nee 1 A of he faloing ae rots for dssunt tobe alowed as» eden ntl ce x7 Determined nd pratt ine fle 1s Redline slesook of noon © Subjtto conde (4 Art of cn i ft in he noice 1. Nacsa Chan exer ints oat fee ofc, Negotiations wat made cn Mach 1, 201. They were ale 9 apres the previ Wot susie on Ap Tey signed th contrac on May 1, 202 an corse ever ofthe ca was made a werk afer om May 8,221 Wheel VA be engi ron he wanacton? Mah 221 apa om May 1200 4. May 201swe TAXREVIOWER ® ‘Asse sa slo on a defered-payment basis “The down payments at lene 25% of the gross seling price “The oven payment excents 25% of he gros seling Pie ‘The nial payment are at east 25% ofthe rose sling pec. ‘The initial payments excnd 25% of the gross selling pic eter ‘When does constructive esipt ocr? ‘When the money rosie by construction worker 1 When the seller hs a unconditional ight to fev the payment Ae from the Bayer ‘& When the solr has legally enfrcabie ight o demand the payment due from the buyer sch as when Ue sel ha alendy endered he services aed upon. 44 When the money consderiton ors egtalet placed atthe fontrel ofthe pcson who rendeced the sevice ito reetietons bythe payor. ‘ich of the following isan eampi of onstracive eet? {Depo inthe bankacrountoftheaaerby thebujer wach remade valabe tothe sell of reves without estos 1, Making of ofunale depot which sal beretumed othe buyer ‘Spon stir completion of he servis rendered ¢Poymont made thebuyer trough check, amas unde these ayes forthe lled aot on servis endered «4 Payment made bye ina fcoofac raneaton “The VAT bate for now fe neuance companies th otal prea sa Votes Adda, 28, Whchot te fling ome i VAT ep a est Teen totheleae pon ey rte propety Pepa eer teh acu metodo acount ‘ety eat are atl pslomance cet gating ele 2. Wichol efter arctic dened ele? ‘een oo ctf ess Changeat omnis tasoes "aerporaton oie propre Change of era ef 2 carporton by the cguon of he coring ret of ch eapeaton another sake aeer 25 Wiehe falovng ia VAT een? {Chagrin rade cnprte ae he business 1 Appr of are or nla of eiaton de fs dee terete sat srt lae of hee Sconce yon, ‘rote tine of regtaon by peton who vont eg Mere epee 4 Cambiaton of crportions 26, Canine uns artranactone deemed ene 2 acu sale ot mae wit et (6) days fling te dr sah gon eee ‘acu seis made win ney (0) dys flowing ede such go wee canned acne within hit (0) ay following th die ‘ch ponds wee coi 4 aan made within one andre twenty (120 as along ede sua gods were consigned‘TWeTAXRevEWER 27, Statement: Gros reaps ofa PRC Heensed doco issubetto VAT on profesional ‘Shtement 2: Gros eels fa profesional atte eject to VAT on professional. Only Statement iste Only Statement 2 tue © Bothetaements are tue 44 Bothstatements are nt toe 28, none tobe zero rae, the sale and act shipment of gods from the Philippines to a foreign county 2 Must be pi for n Philippine poss. Mast be pi for in eeeptbl foreign curency. Must be FOB Shipping Poin. 4 Must Be FOB Destination 29, Statement ECOZONEs ar separate customs tein by fiona aw Statement 2 Slt an entity located inan ECOZONE, even hough uch nity is ot qualified to wal neame tax hala 5% gros nae ts ioral 4 Ony Statements tue 1 OniySatement 2 Both statements are ae. ‘4 ath state are not oe 31. Which of he followings anexpet verted etepie? ‘Deni Corporation is expr sles exceed 0 ofthe total ana rodustion ofthe prcaing table year 1 etana Corporation expr sales exceed 7% ofthe toa anual production af the preceding table year ce Miley Corporation ti export sl exceed St ofthe tot al production ofthe hee preceding tear. Satna Corporations export sles exec 70% of he tal anal Production of he hee preceding able yer 1 Which ofthe flowing la zeoated le? fale ae mato pckging wate 9 nonwesident Dye oe delivery oa essen ob wan! fn manacting, pros, Picking o pecking the Piippins of hes bye’ goss ane P aloe Ade ig ad fr in cepa foreign cureney ae accu fry ecard wih rasan eultie fthe Bangho Seng Pips O57, > salon es pcan marino a needs je {se every arent a exported energie to eat ‘n manueuteg, posing puking ot pong ®t Pipes of he sald buyers goats and paid for in axe feign ae acter acca wih Be lan elton oi ugh Sere ng Pins (BSP) se office goad to nnceet buyer for dary a ride fe be wel in anlcing, proesing. packing st ‘epcinginte pies of esd buyers goods nd pi is ‘eepabl ign cureny and acannon ithe ‘eran repulsion fh Bangho Sent ng Paws 2S, Sle of ted gues to meses ber for delery 10 ries Jal epottveied enteric to bend ie anahcuing ping packing orapakng in the Pio te bayer psa pa fori acetate orp cen edacount rn cardanes wth res elton te Bagh Senta ng pina SP, 52. Whih of he boing 6 no noted sal under the One Invermere? | 2 Salo 1 bended maafacring warehouses of expecta maracas 1 Sesto orermat ofthe Plippines Sales tossper prcaingznes 4. Sake to repbted efor tades operating, bonded deg veto so