About this document
Understanding VAT Liability and Exemptions by Madz Rj Mangorobong is a document available to read on EtoBox.
1. Persons liable to pay VAT include those who sell goods or properties, render services, or import goods in the course of trade or business. 2. Persons not liable include non-VAT registered persons with annual sales below 1.9 million PHP and marginal income earners with sales below 100,000 PHP. 3. VAT applies to the sale of goods at 12% of the gross selling price, sale or properties, importation of goods at 12% of total customs value, and sale of services at 12% of gross receipts. Certain exports and fo
- Author
- Madz Rj Mangorobong
- Language
- EN