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Tax Quiz
Tax Quiz
Question 2
VAT is
Response: all the choices are correct
Question 3
Of the following sales by a VAT-registered person, which is not a zero-rated sale?
Response: sale of consigned goods within 60 days
Question 4
Which of the following is not subject to VAT?
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er as
Response: transport of passengers by domestic common carrier by land
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Question 5
Of the VAT paid on the following purchases or importations of a VAT-registered person, which is
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not allowed as an input tax credit?
Response: automobiles rs e
ou urc
Question 6
If which of the following is not subject to 12% VAT?
o
Question 7
Which of the following sale of goods or property is not subject to VAT?
Response: real property held as capital assets
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Question 8
The basis of the 12% VAT on importation shall include the following except one:
Response: value-added tax
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Question 9
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Question 10
Person required to register as VAT person under the provisions of Tax Code but failed to register
as such
Response: VAT registrable person
Question 11
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Amount of sale, barter or exchange of goods and supply of services which are subject to VAT
Response: taxable base
Question 12
Which of the following statements is false?
Response: Input tax less output tax equals VAT payable
Question 13
BGC Corporation, a web-based business, sells goods manufactured in the Philippines to OFWs
for delivery to their relatives in the Philippines. The OFWs pays by credit card and the proceeds
are remitted through the Philippines banking system to BGC, the sale is:
Response: subject to 0% VAT
Question 14
Output is
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Response: taxable base
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Question 15
VAT-taxable person is required to register
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rs e
Response: all 3 choices are correct
ou urc
Question 16
The final VAT return is reported and made payable to the BIR every
o
Question 17
ed d
Question 18
is
Question 19
VAT on the sale or lease of goods, properties or supply of services by a taxable person
sh
Question 20
Which of the following is not subject to VAT?
Response: sale of flashcards
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Question 21
Which is not an onerous transfer?
Response: succession
Question 22
The government or any of its subdivision, instrumentalities, or subdivisions or agencies,
including GOCC's as well as private corporations, individuals, estates, and trusts, whether large
or non-large taxpayers:
Statement A: shall withhold 12% VAT with respect to the payment of lease or use of properties or
property rights to non-residents
Statement B: shall withhold 12 % VAT with respect to the payment for other services rendered in
the Philippines by resident foreign corporations
Response: statement A is correct
Question 23
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A 12% VAT is applied on the following transactions except:
co
Response: sale of gold to the Bangko Sentral ng Pilipinas
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Question 24
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Which of the following is subject to the 3% percentage tax?
ou urc
Response: sale of services by individuals whose gross annual sales do not exceed P1,
919,500
o
Question 25
aC s
Question 26
ed d
VAT on the sale that is shifted by a VAT-registered person to the buyer who is also a VAT-
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registered person
Response: input tax
Question 27
is
Question 28
sh
Question 29
If the lease of residential units where the monthly rental per unit is below P12, 800, then it shall
be subject to 12%VAT. Is this statement correct?
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Response: No, it is exempt from VAT
Question 30
Which is not a major business internal revenue tax?
Response: donor"s tax
Question 31
Which is not true?
Response: registration fee os payable on or before January 31 of every month
Question 32
Creditable input tax may be increased by:
Response: excess input tax for the previous month
Question 33
m
er as
Which is not true about presumptive input tax?
co
Response: Presumptive input tax is creditable against the input tax
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Question 34
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rs e
Each of the following is subject to 12% VAT except:
Response: transport of passengers by international carrier doing business in the
ou urc
Philippines
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Question 35
aC s
VAT is
vi y re
Question 36
is
Amount of sale, barter or exchange of goods and supply of services which are subject to VAT
Th
Question 37
sh
If the lease of a residential unit where the monthly rental per unit exceeds P12, 800, then it shall
be subject to 12% VAT. Is this statement correct?
Response: yes, but the aggregate rentals should exceed P1, 919,500
Question 38
Which is not true?
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Response: in a VAT-exempt sales, purchases from VAT-registered persons are allowed input
tax
Question 39
The residential unit where the lease or monthly rental per unit is equal to or less than P15, 000
is exempted from VAT. The "residential unit" refers to here is
Response: lodging houses
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er as
Question 40
Which of the following transaction is not subject to VAT
co
eH w
Response: sale of real property not primarily held for sale to customers or held for lease in
the ordinary course of trade or business
o.
rs e
ou urc
Question 41
Person engaged exclusively in the business of selling goods and supply of services that are
exempt from VAT
o
Question 42
Which of the following is exempt from VAT?
Response: transfer of PCGG to private individuals in a sale at a public auction
ed d
ar stu
Question 43
Which is not VAT-exempt?
Response: services rendered by doctors of medicine duly registered with the PRC
is
Th
Question 44
Which of the following is exempt from VAT?
Response: sale of pharmacy drugs or medicines to in-patients
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Question 45
Which of the following is not subject to senior citizen discount?
Response: prosthetics
Question 46
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VAT is
Response: both "A" and "B" are correct
Question 47
Which of the following is not subject to a senior citizen discount?
Response: e-cigarettes
Question 48
Individual, trust, estate, partnership, corporation, joint venture or cooperative or association
who makes or intends to enter into taxable transactions for which he/it is liable to pay VAT
Response: VAT-taxable person
Question 49
Who is not engaged in business?
m
er as
Response: a seller of his residential house
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Question 50
"Input" from the perspective of the purchaser
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Response: taxable purchase
rs e
ou urc
o
aC s
vi y re
ed d
ar stu
is
Th
sh
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