WorksheetsQUIZ NO. 1 INTRODUCTION TO CONSUMPTION TAXES
Total questions: 10
Worksheet time: 20mins
Which importation is subject to the VAT on importation?
Importation by a person engaged in business
Importation by a person not engaged in business
Both A and B
Neither A nor B
Who is the statutory taxpayer to the VAT on importation?
Foreign seller
Domestic buyer
Both A and B
None of these
Who is the statutory taxpayer of business taxes?
The seller who must be engaged in trade or business
The seller whether or not engaged in trade or business
The buyer who must be engaged in trade or business
The buyer whether or not engaged in trade or business
A tax on domestic consumption from resident suppliers.
VAT on importation
Business tax
Either A or B
Neither A nor B
A tax on domestic consumption from non-resident suppliers.
VAT on importation
Business tax
Either A or B
Neither A nor B
It is an imposition on sin products and non-essential commodities.
VAT on importation
Percentage tax
Excise tax
Final withholding tax
Petmalu Company, a resident business, renders services to Mr. Igop, a resident person who is not engaged in business. Identify the statutory taxpayer and the type of consumption tax.
Petmalu Company – Business tax
Mr. Igop – VAT on importation
Mr. Igop – Business tax
Petmalu Company – VAT on importation
Home Buddies Company, a non-resident business, purchased P200,000 goods from Amang Company, a resident business. Which will pay the consumption on this transaction?
Amang Company
Home Buddies Company
Both A and B
Neither A nor B
Hershey Corporation, a resident business, purchased P100,000 goods from Cadbury Company, a non-resident business. Identify the statutory taxpayer and the type of consumption tax.
Hershey Corporation – Business tax
Cadbury Company – Business tax
Hershey Corporation – VAT on importation
Cadbury Company – VAT on importation
Mr. Wrong, an employee, sold his residential lot to Mrs. Right, a real property dealer. Who is subject to consumption tax with respect to this transaction?
Mr. Wrong
Mrs. Right
A and B
Neither A nor B
