The printing of the word “zero-rated” is required to be placed on the VAT invoice or receipts covering zero-rated sales to be entitled to claim for tax credit or refund unless there are other documents that can determine the veracity of the taxpayer’s claims. True or False?

For a claim of refund, the taxpayer must not only prove that it is a VAT-registered entity but that, also, it filed its claim within the prescriptive period. True or False?

The transitional input tax credit may be availed of when a business that is not VAT-registered elects to be VAT-registered. True or False?

The VAT shall be withheld where the purchaser is a government-owned or controlled corporation. True or False?

VAT Exempt: Sale of professional instruments and implements wearing apparel, domestic animals, and personal household effect. True or False?

VAT shall be imposed prospectively. True or False?

The consumption of merchandise in a grocery store by its owner is subject to VAT.

If two or more adjacent residential lots or other residential dwellings are sold in 2018 by the same seller to the same buyer, within twelve months, the sale shall be exempt from VAT only if the aggregate value of the lots or other residential dwellings do not exceed P1.5 million. True or False?

Any person whose sales or receipts are exempt under Section 109 of this Code from the payment of VAT and who is not a VAT-registered person shall pay a tax equivalent to three percent of his gross quarterly sales or receipts. True or False?