bt mid
問題一覧
1
Statement 1: VAT is a tax on consumption levied on the sate,
barter, exchange, lease of goods or properties and services in the
Philippines and importation of goods into the Philippines.
Statement 2: VAT is a form of sales tax
Both statements are true
2
Who is not required to file VAT returns?
marginal income earner (MIE)
3
In the case of importation of taxable goods, who shall be liable to
pay VAT?
Importer, whether an Individual or corporation and whether or not made in the course of trade or business.
4
One of the following is not a major business internal revenue taxes
in the tax code?
Income tax
5
The account title to best reflect the VAT on a purchase?
Input tax
6
Who shall be statutorily liable to pay for the tax on sale of goods
or properties and sale of services and lease of properties?
Seller
7
Which of the following shall not be included in the term goods or
properties?
Real proper ties not held primarily for sale to customers or not held for lease in the ordinary course of trade of business
8
Which of the following shall be subject to VAT?
Sale of an apartment house
9
Sale of a real property the initial payments of which exceed
twenty-five percent (25%) of the gross selling price in the year of
sale.
Sale of real proper ty by a real estate dealer on a deferred payment basis, not on instalment
10
Which of the following is not subject to value-added tax?
Transmission of a proper ty to a trustee if the proper ty is to be merely held in trust for the trustor and/or beneficiary
11
Which of the following statements is incorrect?
The input tax on purchase of goods, proper ties, or services related to zero-rated sales shall be available as tax credit only in accordance
12
Statement 1: A person subject to excise tax is also subject to
value-added tax;
Statement 2: A person subject to percentage tax is also subject to
value-added tax.
The first statement is correct but the second statement is wrong
13
Which of the following is not a sale and therefore is not subject to
the VAT?
Consignment sales
14
Under the VAT law, which of the following sales may not be zero-
rated?
Sale of goods to an export-oriented enterprise
15
Which of the following statements is wrong? The VAT is
On purchases, is part of the cost of inventory
16
Which one is not included in the tax base of VAT on importation:
Other charges after the release of imported goods from BOC.
17
Kathrine Bernardo, who recently broke up with her boyfriend of
11 years, Dee Jay, receives a package of goods from her sister who
lives in California, USA. Misa Bermando will use the package for
personal purposes. She is not a VAT-registered person. Which of the
following statements is correct in connection with the receipt of a
package?
Kathrine shall be subject to VAT on importation
18
Andrea Hakusho, a Japanese citizen residing in the Philippines,
bought garments from Francine Corporation, a domestic corporation,
and exported the same to Japan. Total value of exports is
Php10,000,000. The output tax due on the transaction is
None, the transaction is exempt from VAT
19
Following are various transactions for different taxpayers:
A, non-VAT taxpayer, sells to B,
a VAT taxpayer Php600,000
B, VAT taxpayer, sells to C,
a VAT taxpayer Php900,000
C, a VAT taxpayer, sells to D,
a VAT taxpayer (exporter) Php150,000
D, VAT taxpayer, exports materials Php300,000
The VAT of B for the transaction is:
Payable of Php108,000
20
Kimmy Chu is a VAT-registered real estate dealer. She sold a
residential lot on January 31, 2017. The following information was
made available on the terms of the sale:
Initial payments (down payment and installment for the year Php9,000,000
Balance, starting February 28,2017 Php21,000,000
Zonal Value Php28,000,000
How much was the total output tax due?
Php3,600,000
21
Using the same information in item number 27, how much is the
output tax due on February remittance?
Phpp2,520,000
22
Gillian Valencia Corporation, a VAT-registered entity, made the
following purchases during the month of August 2023:
Goods for sale, Inclusive of VAT Php246,400
Supplies, exclusive of VAT Php20,000
Office air-conditioner, invoice
price, EUL-3 years Php56,000
Home appliance for residence,
gross of VAT Php17,920
Service for store repair,
invoice price, non-VAT Php33,000
Service repainting of store, total
invoice amount evidenced by
ordinary receipt issued by contractor Php4,480
Php34,800.00
23
Items 33 to 37 refer to Seth Corporation, a VAT-registered entity, hos
the following transactions:
Sale of good to private
entities, net of VAT Php2,500,000
Purchases of goods sold to
private entities, gross of VAT Php896,000
Sales to a GOCC, net of VAT Php1,000,000
Purchases of goods sold to GOCC, net of 12% VAT Php700,000
How much is the output tax?
420000
24
Items 33 to 37 refer to Seth Corporation, a VAT-registered entity, hos
the following transactions:
Sale of good to private
entities, net of VAT Php2,500,000
Purchases of goods sold to
private entities, gross of VAT Php896,000
Sales to a GOCC, net of VAT Php1,000,000
Purchases of goods sold to GOCC, net of 12% VAT Php700,000
How much is the standard input tax?
70000
25
Items 33 to 37 refer to Seth Corporation, a VAT-registered entity, hos
the following transactions:
Sale of good to private
entities, net of VAT Php2,500,000
Purchases of goods sold to
private entities, gross of VAT Php896,000
Sales to a GOCC, net of VAT Php1,000,000
Purchases of goods sold to GOCC, net of 12% VAT Php700,000
How much is the creditable tax?
166000
26
Items 33 to 37 refer to Seth Corporation, a VAT-registered entity, hos
the following transactions:
Sale of good to private
entities, net of VAT Php2,500,000
Purchases of goods sold to
private entities, gross of VAT Php896,000
Sales to a GOCC, net of VAT Php1,000,000
Purchases of goods sold to GOCC, net of 12% VAT Php700,000
How much is the input tax closed to expense?
14000
27
Items 33 to 37 refer to Seth Corporation, a VAT-registered entity, hos
the following transactions:
Sale of good to private
entities, net of VAT Php2,500,000
Purchases of goods sold to
private entities, gross of VAT Php896,000
Sales to a GOCC, net of VAT Php1,000,000
Purchases of goods sold to GOCC, net of 12% VAT Php700,000
How much is the VAT payable to the BIR?
204000
28
Which of the following lots qualifies under a deferred plan?
None of the choices
29
How much is the output tax for the month of October 2018?
Php40,200
30
How much is the output tax for the month of December 2018?
Php6,600
31
41. The VAT on importation of goods which are subsequently used
or sold in the course of trade or business by a VAT registered
importer shall be treated as:
I. tax credit
II. Inventoriable cost
III. Expense
I only
32
42.Magnifico Corp. is a vat-registered dealer of appliances. The
following data are for the last quarter of the year:
Sales, total invoice value Php6,920,000
Purchases, net of input taxes. Php5,500,000
Sales return, total invoice value Php200,000
Purchase return, net of VAT Php300,000
Deferred input taxes (carried over
from the third quarter of the year) Php12,000
The value added tax payable for the last quarter of the year by
Magnifico Corp. is:
84,000
33
Bianca Manalo Corp., is a VAT registered entity with the
following data for a taxable month:
Domestic Sales Php500,000
Transactions deemed sales Php500,000
Export Sales Php500,000
Sales to Win Gatchalian, an
export-oriented enterprise. Php500,000
Purchases (invoice cost from
VAT-registered entities) Php224,000
Purchases invoice cost from
non VAT-registered entities) Php100,000
The VAT payable of Bianco Manalo Corp. should be:
156,000
34
Statement 1: For a person to be subjected to any business tax, it is
necessary that he is regularly engaged in the conduct or pursuit of an
economic activity
Statement 2: Government entities engaged in economic or
commercial activity are generally exempt from VAT.
Statements 1 and 2 are not correct.
35
Statement 1: A taxpayer whose annual gross receipts or sales
exceed Php3,000,000 but who is VAT registered shall pay VAT.
Statement 2: On January 1, 2018, Seth Fidelin, Inc., a newly
established business is expected to generate a revenue for the year
2018 amounting to Phip3,500,000, thus mandatorily liable to VAT
Both statements are correct
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7問 • 2年前問題一覧
1
Statement 1: VAT is a tax on consumption levied on the sate,
barter, exchange, lease of goods or properties and services in the
Philippines and importation of goods into the Philippines.
Statement 2: VAT is a form of sales tax
Both statements are true
2
Who is not required to file VAT returns?
marginal income earner (MIE)
3
In the case of importation of taxable goods, who shall be liable to
pay VAT?
Importer, whether an Individual or corporation and whether or not made in the course of trade or business.
4
One of the following is not a major business internal revenue taxes
in the tax code?
Income tax
5
The account title to best reflect the VAT on a purchase?
Input tax
6
Who shall be statutorily liable to pay for the tax on sale of goods
or properties and sale of services and lease of properties?
Seller
7
Which of the following shall not be included in the term goods or
properties?
Real proper ties not held primarily for sale to customers or not held for lease in the ordinary course of trade of business
8
Which of the following shall be subject to VAT?
Sale of an apartment house
9
Sale of a real property the initial payments of which exceed
twenty-five percent (25%) of the gross selling price in the year of
sale.
Sale of real proper ty by a real estate dealer on a deferred payment basis, not on instalment
10
Which of the following is not subject to value-added tax?
Transmission of a proper ty to a trustee if the proper ty is to be merely held in trust for the trustor and/or beneficiary
11
Which of the following statements is incorrect?
The input tax on purchase of goods, proper ties, or services related to zero-rated sales shall be available as tax credit only in accordance
12
Statement 1: A person subject to excise tax is also subject to
value-added tax;
Statement 2: A person subject to percentage tax is also subject to
value-added tax.
The first statement is correct but the second statement is wrong
13
Which of the following is not a sale and therefore is not subject to
the VAT?
Consignment sales
14
Under the VAT law, which of the following sales may not be zero-
rated?
Sale of goods to an export-oriented enterprise
15
Which of the following statements is wrong? The VAT is
On purchases, is part of the cost of inventory
16
Which one is not included in the tax base of VAT on importation:
Other charges after the release of imported goods from BOC.
17
Kathrine Bernardo, who recently broke up with her boyfriend of
11 years, Dee Jay, receives a package of goods from her sister who
lives in California, USA. Misa Bermando will use the package for
personal purposes. She is not a VAT-registered person. Which of the
following statements is correct in connection with the receipt of a
package?
Kathrine shall be subject to VAT on importation
18
Andrea Hakusho, a Japanese citizen residing in the Philippines,
bought garments from Francine Corporation, a domestic corporation,
and exported the same to Japan. Total value of exports is
Php10,000,000. The output tax due on the transaction is
None, the transaction is exempt from VAT
19
Following are various transactions for different taxpayers:
A, non-VAT taxpayer, sells to B,
a VAT taxpayer Php600,000
B, VAT taxpayer, sells to C,
a VAT taxpayer Php900,000
C, a VAT taxpayer, sells to D,
a VAT taxpayer (exporter) Php150,000
D, VAT taxpayer, exports materials Php300,000
The VAT of B for the transaction is:
Payable of Php108,000
20
Kimmy Chu is a VAT-registered real estate dealer. She sold a
residential lot on January 31, 2017. The following information was
made available on the terms of the sale:
Initial payments (down payment and installment for the year Php9,000,000
Balance, starting February 28,2017 Php21,000,000
Zonal Value Php28,000,000
How much was the total output tax due?
Php3,600,000
21
Using the same information in item number 27, how much is the
output tax due on February remittance?
Phpp2,520,000
22
Gillian Valencia Corporation, a VAT-registered entity, made the
following purchases during the month of August 2023:
Goods for sale, Inclusive of VAT Php246,400
Supplies, exclusive of VAT Php20,000
Office air-conditioner, invoice
price, EUL-3 years Php56,000
Home appliance for residence,
gross of VAT Php17,920
Service for store repair,
invoice price, non-VAT Php33,000
Service repainting of store, total
invoice amount evidenced by
ordinary receipt issued by contractor Php4,480
Php34,800.00
23
Items 33 to 37 refer to Seth Corporation, a VAT-registered entity, hos
the following transactions:
Sale of good to private
entities, net of VAT Php2,500,000
Purchases of goods sold to
private entities, gross of VAT Php896,000
Sales to a GOCC, net of VAT Php1,000,000
Purchases of goods sold to GOCC, net of 12% VAT Php700,000
How much is the output tax?
420000
24
Items 33 to 37 refer to Seth Corporation, a VAT-registered entity, hos
the following transactions:
Sale of good to private
entities, net of VAT Php2,500,000
Purchases of goods sold to
private entities, gross of VAT Php896,000
Sales to a GOCC, net of VAT Php1,000,000
Purchases of goods sold to GOCC, net of 12% VAT Php700,000
How much is the standard input tax?
70000
25
Items 33 to 37 refer to Seth Corporation, a VAT-registered entity, hos
the following transactions:
Sale of good to private
entities, net of VAT Php2,500,000
Purchases of goods sold to
private entities, gross of VAT Php896,000
Sales to a GOCC, net of VAT Php1,000,000
Purchases of goods sold to GOCC, net of 12% VAT Php700,000
How much is the creditable tax?
166000
26
Items 33 to 37 refer to Seth Corporation, a VAT-registered entity, hos
the following transactions:
Sale of good to private
entities, net of VAT Php2,500,000
Purchases of goods sold to
private entities, gross of VAT Php896,000
Sales to a GOCC, net of VAT Php1,000,000
Purchases of goods sold to GOCC, net of 12% VAT Php700,000
How much is the input tax closed to expense?
14000
27
Items 33 to 37 refer to Seth Corporation, a VAT-registered entity, hos
the following transactions:
Sale of good to private
entities, net of VAT Php2,500,000
Purchases of goods sold to
private entities, gross of VAT Php896,000
Sales to a GOCC, net of VAT Php1,000,000
Purchases of goods sold to GOCC, net of 12% VAT Php700,000
How much is the VAT payable to the BIR?
204000
28
Which of the following lots qualifies under a deferred plan?
None of the choices
29
How much is the output tax for the month of October 2018?
Php40,200
30
How much is the output tax for the month of December 2018?
Php6,600
31
41. The VAT on importation of goods which are subsequently used
or sold in the course of trade or business by a VAT registered
importer shall be treated as:
I. tax credit
II. Inventoriable cost
III. Expense
I only
32
42.Magnifico Corp. is a vat-registered dealer of appliances. The
following data are for the last quarter of the year:
Sales, total invoice value Php6,920,000
Purchases, net of input taxes. Php5,500,000
Sales return, total invoice value Php200,000
Purchase return, net of VAT Php300,000
Deferred input taxes (carried over
from the third quarter of the year) Php12,000
The value added tax payable for the last quarter of the year by
Magnifico Corp. is:
84,000
33
Bianca Manalo Corp., is a VAT registered entity with the
following data for a taxable month:
Domestic Sales Php500,000
Transactions deemed sales Php500,000
Export Sales Php500,000
Sales to Win Gatchalian, an
export-oriented enterprise. Php500,000
Purchases (invoice cost from
VAT-registered entities) Php224,000
Purchases invoice cost from
non VAT-registered entities) Php100,000
The VAT payable of Bianco Manalo Corp. should be:
156,000
34
Statement 1: For a person to be subjected to any business tax, it is
necessary that he is regularly engaged in the conduct or pursuit of an
economic activity
Statement 2: Government entities engaged in economic or
commercial activity are generally exempt from VAT.
Statements 1 and 2 are not correct.
35
Statement 1: A taxpayer whose annual gross receipts or sales
exceed Php3,000,000 but who is VAT registered shall pay VAT.
Statement 2: On January 1, 2018, Seth Fidelin, Inc., a newly
established business is expected to generate a revenue for the year
2018 amounting to Phip3,500,000, thus mandatorily liable to VAT
Both statements are correct