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WorksheetsBTT Other Taxes
Total questions: 25
Worksheet time: 15mins
VAT is always imposed on every sale, barter, or exchange of goods or services and on importations.
True
False
How many kinds of Percentage Taxes are there?
10
11
12
13
Who are exempt from VAT but are subject to Other Percentage Taxes?
Cooperatives
SEIs and SEPs availing of the 8% tax on gross sales/receipts
VAT registered person with annual gross sales/receipts not exceeding Php 3M
All of the above
None of the above
A taxpayer with annual gross sales/receipts that do not exceed the VAT threshold but engages in activities/transactions exempt from VAT is
Required to register under the VAT System
Has the option to register under the VAT system
Exempt from VAT but liable to percentage tax
Not exempt from VAT but liable to percentage tax
The option of the SEI and SEP to be taxed at 8% is automatic
TRUE
FALSE
What is the tax rate on the Common Carrier's Tax?
8%
2.5%
3%
1%
The CCT under Sec. 117 applies to all common carriers by land, water and air
True
False
International Carriers can be subjected to Percentage Tax
True
False
May international air carriers and international shipping carriers be subjected to 12% VAT for the transport of passengers and cargo?
Yes
No
An offline-international carrier having a branch office or sales agent in the PH is subject to 12% VAT
True
False
Franchises on radio and/or television broadcasting companies, as well as gas and water utilities are subject to the percentage tax rate of
3%
2%
1%
12%
There are no exemptions from the OCT
True
False
The OCT of 10% is payable by the person paying for the services rendered and shall be paid to the person rendering the services.
True
False
Gross Receipts Tax is applicable to banks only.
True
False
NSSLAs are not subject to GRT because they are considered as Non-Bank Financial Intermediaries.
True
False
Health insurance premiums are subject to percentage tax under Sec. 123
True
False
Videoke and Karaoke bars are not subject to 18% amusement tax because they are not considered night and day clubs and cabarets.
True
False
POGO means
Philippine Offline Gaming Operations
Philippine Offshore Gaming Operations
Philippine Offshore Gambling Operations
Philippine Offline Gambling Operations
Excise taxes are imposed on the following
Tobacco
Alcohol
Fuel
Mineral products
Under tha TRAIN LAW, the following are excisable articles except
Non-Essential Goods
Non-Essential Services
Sweetened Beverages
Invasive Cosmetic Surgery
DST is applied to
documents
instruments
loan agreements
papers
DST is paid by
the person making the document
the person purchasing the document
the person signing the document
the person transferring the document
How many copies of the DST return are required to be filed?
1
2
3
4
If the person making the document fails to pay the DST, the document is deemed invalidated.
True
False
Bank Deposit accounts without a fixed term or maturity are subject to DST.
True
False
