1.

What amount in gross annual receipts in lease of real property or personal shall be excepted to
vat?
a. 3,000,000
b. More than 3,000,000
c. Less than 3,000,000
d. Both A and B
2. How many percent of vat in the gross receipt of from lease of commercial units?
a. 6%
b. 12%
c. 3%
d. 8%
3. If the sale does not exceed 25% of the selling price is it considered as?
a. Installment Payment Basis
b. Deferred Payment Basis
c. Cash Sale
d. None of the above
4. If the sale of real property exceeds 25% of the selling price is it considered as?
a. Installment Payment Basis
b. Deferred Payment Basis
c. Cash Sale
d. None of the above
5. If the total selling price of real property is paid immediately by the buyer is considered as?
a. Installment Payment Basis
b. Deferred Payment Basis
c. Cash Sale
d. None of the above
6. It is primarily held in the normal course of business is subject to value added tax.
a. Lease of Commercial units
b. Residential Units
c. Sale of Real Property
d. None of the above
7. Is a tax on payments for services rendered in the exercise of profession or calling.
a. Vat on Sale of services
b. Vat
c. Value Added Tax
d. Tax
8. How many percent of vat in the ‘sale or exchange of services’ that based on the ‘gross receipt’
derived by any person engaged in the sale of such services or lease of properties.
a. 6%
b. 12%
c. 3%
d. 8%
9. Senior Citizen is entitled to the following benefits.
a. Vat exemption
 b. 20% Discount on curtains Items
c. 5% Special discount on basic necessities and prime commodities
d. All of the above
10. In what age in the Philippines is considered as Senior Citizen?
a. 59YO
b. 60YO
c. 65YO
d. 70YO
11. How many months of residency in the Philippines that may apply to senior citizen with “dual
citizenship”?
a. 180 Days
b. 6 Months
c. 3 Months
d. 90 Days
12. An individual suffering from restrictions or different abilities as a result of mental, physical or
sensory impairment to perform an activity in a manner or within the range considered normal
for being human (RR 1-2009).
a. Senior Citizen
b. Person with Disability
c. Both a and b
d. None of the above
13. Are toll fees being subject to 20% Senior Citizen Discount?
a. Yes
b. No
c. True
d. False
14. Does Cigarettes/Cigar are subject to 20% Senior Citizen Discount, 5% Special Discount and Vat
exemption?
a. True
b. False
c. Yes
d. No
15. Qualified National Athletes and Coaches shall be entitled to 20% sales discount, on sales
_______ __ ___
a. Inclusive of Vat
b. Exclusive of Vat
c. Value added tax
d. None of the above
16. If a person is a Senior Citizen at the same time PWDs, is he/she can avail the double discount?
a. True
b. False
c. Yes
d. No
17. Below is the computations of Non-vat sellers
 Sales/Receipts (non-vat) P1,000
Less: 20% discount (200)
Total amount due net of discount P800

Q. How much is the percentage tax due? 1,000 X 1% = P10

18. What BIR Form No. shall be used as proof by VAT taxpayers in claiming for VAT credit in their
monthly and quarterly VAT declarations?
a. 2307
b. 2008
c. 2310
d. 2308