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Worksheets2 - Who Wants To Be A Millionaire - VAT on Importations
Total questions: 3
Worksheet time: 2mins
Baifern, an employee of Royal Thai Embassy, wants to sell her Hilux (imported tax-free from BKK) to Mario, a Filipino local hire. Will the sale of Baifern's Hilux remain tax-free?
Yes, because Baifern is a tax-exempt person due to international comity.
No, because Baifern must register first with the BIR for exemption.
Yes, since the Hilux was imported tax-free, therefore the subsequent sale is tax-free.
No, because the sale to Mario, a non-exempt person, is already subject to VAT.
The VAT on Importation is paid by the:
Non-resident seller monthly
Resident buyer before release of goods from customs custody
Non-resident seller before release of goods from customs custody
Resident buyer monthly
Gross receipts is the appropriate VAT Base for all of the following, except:
Sale of Services
Importation
Lease of Properties
Sale of Securities
