GR: there must be an actual sale of GSP in the Philippines in order that VAT may be imposed
XPN:
1. Importation of goods by a person, who may or may not be engaged in trade or
business in the Philippines 2. Erroneous issuance of VAT invoice for VAT exempt sales of GSP 3. Deemed sales of GP
Taxable TRANSACTIONS
1. SBE of GP in the course of TB
2. Sales of services in the course of TB 3. Importation of good WON made in the course of TB
Taxable PERSONS
1. He undertakes taxable transactions in GPS
a. consumed or destined for consumption within the Philippines b. In the course of TB c. Amount of gross sales is over 3M 2. Importer of goods WON made in the course of TB
RR 13-2018 (03/18/2018); RA10963 (01/01/2018)
1. General VAT exempt threshold 3M
2. For low housing, the VET = the selling price set by HUDCC 3. For socialized housing a. House and lot = 450K b. Lot = 180K 4. Sale of resident a. House and lot = 3,199,200 b. Lot = 1,919,500 5. Adjacent lots when sold to one buyer shall be presumed as a sale of only one lot. 6. If the aggregate value of the adjacent lots is 1,919,500 or below the sale is VAT exempt. 7. Beginning 01/01/2021 VAT exempt shall only apply to the ff. a. Sales of RP not primarily held for sale or for lease in the ordinary course of TB b. Sales of RP for socialized housing c. Sales of House and lot for 2M or below. 8. For lease of residential unit = 15K per month is exempt
If gross sales do not exceed 3M
1. Register as non-vat 2. Optional registration for vat exempt person
Non-stock, non-profit associaton
1. Not engaged in business or taxable sale of GPS
2. Amount received from members represents additional capital contributions 3. Amount received is spent for the special purpose for which the fund was created