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RgSA: The Review School of Accountancy i .

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2A. Adjacent re;idential lots, although covered by separate titles and/or separate tax declarations, when
sold or
disposed to one and the same buyer, whether covered by one or separate Deed of C-onveyance, shall
prgegmeq gs a sale of one residential lot.
29. Sale of parkiirg lot in a condominium is a separate and distinct transactiron and is not covered
by the rules on
threshold amount not being a residential lot, house and lot or a residential dwelling, thus, shouid
be subjed b
VAT regardless of the amount of selling price.
30. In cases where a lessor has several residential ulits for lease, some of which are leased out for a
monthly rental
not exceeding P12r800 per unlt while others are leased out for more than P12rB00 per unit, the gross receipts
from rentals nst exceeding P12r800 per month per unit shall be exempt from VAT iegardless of the aggregate
annual gross receipts.
31. In cases wtrcre a lessor has several residential units for lease, some of which are leased out for a monthly
not orceeding P12r80o per unit while others are leased out for more than plzrooo per unit, the gross receipts
from rentals exceeding P12|PO9 Per month per unit shall be subject to VAT if the aggregate annual gross receipts
from said units only (not including the gross receipts from units leased for not mo6-tna-n Fl2rggo) &ceeo
32. The term'residential uni( shall tnean an apartment unit in the case of apartments, house in the case of residential
houses; per person in the case of dormitories, boarding houses and bed spaces; and per room in case of rooms
for rent.
33. The term "boolt newspaper, magazine, rerriew and bulletin" shall refer to printed materials in hard copies
and do
not include those in digital or electronic format or computerized versions, including but not limited to e-books,
joumals, electronic copies, on-line library sources, CDs and software.
34. Sale, importation or lease of passenger or cetrgo vessels and aircraft, including engine, equipment and spare parts
thereof for domestic or international kansport operations shall be exernpt from VAf. ' '
35. The transport of passengers by international carriers doing business in the philippines and transport
cargo by international carriers doing business in the Philippines shall be exempt irom VAT.
F so. Importation of fuel, goods, supplies and eguipment by persons engaged in international shipping and air transport
operations shall be exempt from VAT.
? sz. For the Purpose of the threshold of P1,919,5oo, the husband and the wife shall be considered as
one taxpayer,
Fsa. If a professional, aside from the practice of his profession, also derives revenue from other linc of business
whether subject to vAT or exempt from vAt the same shbll be combined for purposes of determining whether
the threshold has been exceeded.
39. Sale of certain goods and services to Senior Citizens and Persons with Disability (nA/D) is
exempt from VAT.
10. If the senior citizen is self-employed or engaged in business or practice of profiiion, ino t iu gross annual
and{or receipts exceed the VAT threshold amount, his gross salls or gross receipts deriyed f; =les
;; il;;";;.
practice shall be suffect to VAT.

THoT: -s;uw oa8de of God? will k enpty and shallow- it only tads to disiltusiontnent - - Trmu;;isc