- Several types of businesses, goods, services and transactions are discussed and identified as either being subject to business tax, VAT, percentage tax or exempt. These include things like sale of agricultural products, medical services, rent income, tuition fees, carrier transport services, communication services, insurance premiums and more.
- Threshold amounts for gross receipts are provided, above which certain businesses become liable for taxes. Rates of tax are also specified for various cases, such as 3% for common carriers, 3% premium tax on insurance.
- Examples of business tax liabilities are calculated for cases where gross receipts are above or below thresholds. Other specific details are provided on stock transaction tax, IPO tax,
- Several types of businesses, goods, services and transactions are discussed and identified as either being subject to business tax, VAT, percentage tax or exempt. These include things like sale of agricultural products, medical services, rent income, tuition fees, carrier transport services, communication services, insurance premiums and more.
- Threshold amounts for gross receipts are provided, above which certain businesses become liable for taxes. Rates of tax are also specified for various cases, such as 3% for common carriers, 3% premium tax on insurance.
- Examples of business tax liabilities are calculated for cases where gross receipts are above or below thresholds. Other specific details are provided on stock transaction tax, IPO tax,
- Several types of businesses, goods, services and transactions are discussed and identified as either being subject to business tax, VAT, percentage tax or exempt. These include things like sale of agricultural products, medical services, rent income, tuition fees, carrier transport services, communication services, insurance premiums and more.
- Threshold amounts for gross receipts are provided, above which certain businesses become liable for taxes. Rates of tax are also specified for various cases, such as 3% for common carriers, 3% premium tax on insurance.
- Examples of business tax liabilities are calculated for cases where gross receipts are above or below thresholds. Other specific details are provided on stock transaction tax, IPO tax,
- Several types of businesses, goods, services and transactions are discussed and identified as either being subject to business tax, VAT, percentage tax or exempt. These include things like sale of agricultural products, medical services, rent income, tuition fees, carrier transport services, communication services, insurance premiums and more.
- Threshold amounts for gross receipts are provided, above which certain businesses become liable for taxes. Rates of tax are also specified for various cases, such as 3% for common carriers, 3% premium tax on insurance.
- Examples of business tax liabilities are calculated for cases where gross receipts are above or below thresholds. Other specific details are provided on stock transaction tax, IPO tax,
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which of the following sales is not subject to business tax- CASUAL SALE OF CAR
BY A NON DEALER
which of the these pay business taxes- GOLD TRADER
which is taxable with VAT- SALE OF COTTON IN ORIGINAL STATE
which is exempt from business tax- MEAT VENDOR
which is exempt from business tax- SALE OF BOILED PEANUTS
which of the following sale is exempt from business tax- SALE OF PALAY
the sale of this agricultural or marine product is exempt from business tax- MACKEREL
which of the following establishment may qualify for exemption from business tax- BOARDING HOUSE
which of the following is least likely subject to VAT- CORN GRITS
the sale of which of the following is exempt from business tax- BOILED EGGS
which is subject to VAT when sold- NONE OF THE CHOICE pg. 133
which is not exempt from business tax- AGRICULTURAL CONTRACT GROWERS
which of the following transactions is not subject to business tax?- SALE OF
GENETIC MATERIALS FOR POULTRY
which of the following animals is not considered as a pet?- LIVESTOCK
Which of the following sales is not exempt from business tax- SALE OF UNPROCESSED AGRICULTURAL FOOD PRODUCTS
Which is subject to business tax- NONE OF THE CHOICE pg. 134 no 1
All of these pay business tax exempt- employee pg. 134
Which of the following pays business tax- REGIONAL OPERATING
HEADQUARTERS pg. 134 Which is an exempt medical service- HOSPITAL SERVICES pg. 134
The gross receipts or sales of the hospital from which of the following sources is not exempt from business tax- MEDICINES pg. 134
Which is exempt from business tax- ALL OF THESE- 135
Which of these receipts by a school is more likely to be subject to business tax-
RENT INCOME pg. 135
Which of the following items is exempt from business tax- SALE OF BALLPEN AND NOTEBOOKS
Which is not an accrediting agency for a school to be exempt from business tax- DEPARTMENT OF HEALTH
Which of the following activities related to books is exempt from business tax- ALL OF THESE pg. 135
What is the amount subject to business tax- 5,000,000 pg. 142
THE SALE OF THE HOUSE AND LOT BY CAMIGUIN IS EXEMPT FROM BUSINESS TAX
THE 300,000 IS EXEMPT FROM VAT, BUT IS SUBJECT TO PERCENTAGE TAX
THE RENTAL INCOME OF MALAKAS SHIPPING IS EXEMPT FROM BUSINESS TAX
THE RENTAL INCOME OF MALAKAS SHIPPING COMPANY IS SUBJECT TO FINAL
WITHHOLDING VAT pg. 143
THE TUITION FEE IS EXEMPT FROM BOTH PERCENTAGE TAX AND VAT pg. 144
THS IS EXEMPT FROM BUSINESS TAX
ONLY THE SALE OF THE CAR IS SUBJECT TO BUSINESS TAX pg. 145
GREEN RESIDENCE – 0 BOTH PROPERTIES ARE SUBJECT TO VAT WITHOUT REGARD TO WHETHER THEY ARE ABOVE OR BELOW THE PRICE CEILING – pg. 145
THE SALES OF BOTH LOTS ARE EXEMPT BECAUSE THEIR AGGREGATE SELLING PRICE IS BELOW THE PRICE CEILING- pg. 146
50,000 PG. 146
7,000,000
2,000,000 pg. 147
3,100,000
100,000
CHAPTER 5
To be percentage to the general percentage tax a, a taxable person must not be –
VAT REGISTERED
Which domestic common carrier is specifically subject to percentage tax-
COMMON CARRIER BY LAND
From which of the following sources does the 3% common carriers tax specifically apply- TRANSPORT OF PASSENGERS
The percentage tax specifically imposed on certain domestic transporters is
called-
Which is not specifically subject to a percentage tax – pg. 183
From which of the following sources is the gross receipt of an international carrier subject to percentage tax- pg. 183 A domestic carrier which is also engaged In international transport operations is subject to – pg. 183
On transport of excess baggage, cargoes or mails, an international carrier shall
pay- PERCENTAGE TAX EVEN IF IT IS ABOVE THE VAT THRESHOLD
Which is a VAT exempt receipt to a bus operator- RECEIPTS FROM PASSENGERS
To an operator of a domestic sea transport vessel, which of the following is
vatable- pg. 183
To an international carrier, which is subject to percentage tax- pg. 183
Which is not specially subject to common carriers tax- pg. 184
Which is more likely exempt from business tax-
To an operator of a domestic aircraft, which is vatable-
Which of there is vatable- pg. 184
Which is subject to 3% percentage tax- CAR FOR HIRE
A jeepney operator with gross receipts from passengers fares exceeding
3,000,000 in any 12 month period is subject to –
Franchise grantees of telephone, telegraph, and other communication equipment
are subject to percentage tax on- PG. 184
Which is not exempt from the overseas communication tax- PEZA LOCATORS
The overseas communication tax is- pg. 184
Which is a vatable receipts to a franchise telephone franchise grantee –
Which of the following franchisees is subject to the franchise tax- pg. 185
A radio or television broadcosting company with annual gross receipt not
exceeding 9,000,000 shall pay- What is the business tax liability of gas and water utilities with gross receipts not exceeding 10,000,000-
What is the business tax liability of gas and water utilities with gross receipts exceeding 10,000,000-
A radio or television broadcosting company with annual gross receipts of
12,000,000 shall pay-
The gross receipt tax on long term interest income is-
Which is subject to the gross receipt tax-
The gross receipts of banks pertain to –
Which is subject to percentage tax- pg. 186
The premium tan on life insurance applies to-
Which is part of gross receipts for purposes of the premiums tax on life insurance-
The gross receipt tax on banks from other items of gross income aside from interest income is-
Statement- both statements- pg.186
Agents of foreign insurance are subject to-
Which is not subject to amusement tax-
The premium tax on insurance premium is-
The percentage tax for operators of race tracks is-
Operators of discos or cabarets are subject to an amusement tax of-
The general percentage tax on winnings from a horse race is- pg. 187
Which winning is subject to percentage tax-
Which of the following events is not exempt from amusement tax-
Which is incorrect with respect to the requisites if exemption of receipts from professional boxing-
Which of the following sales is subject to stock transaction tax-
The IPO tax is payable by-
The stock transaction tax is withheld and remitted by-
Which is subject to premium tax- pg.188
All of the following pays monthly percentage tax except –
Which is specifically subject to percentage tax- 189
Interest income on loans is specifically subject to percentage tax if earned by a –
