MAROLLANO, Marienella S.

BSA – 2B

Summary: VAT Exempt Sales (O, P1 & P2)

VAT EXEMPT SALES

O. Export Sales of Non-VAT Taxpayers

The export sales of non-VAT taxpayers are exempt from percentage tax.

P. Sale of:

1. Real properties not primarily held for sale to customers or held for lease in the ordinary course of
business.

2. Real properties utilized for low-cost housing and socialized housing defined by Republic Act. No. 7279,
otherwise known as the Urban Development and Housing Ac of 1992, and other related laws.