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SEC. 106. Value- (A) Rate and Base (A) Rate and Base
Added Tax on Sale of Tax.- There shall of Tax.- There shall
of Goods or be levied, assessed be levied, assessed
Properties and collected on and collected on
every sale, barter or every sale, barter or
exchange of goods or exchange of goods or
properties, value- properties, value-
added tax equivalent added tax equivalent
to ten percent to twelve percent
(10%)of the gross (12%)of the gross
selling price or gross selling price or gross
value in money of the value in money of the
goods or properties goods or properties
sold, bartered or sold, bartered or
exchanged, such tax exchanged, such tax
to be paid by the to be paid by the
seller or transferor seller or transferor
xxx xxx
Subject Present Rules Proposed Rules
SEC. 106. Value- (2) The following sales by (4) Those considered export
Added Tax on Sale of VAT-registered persons shall sales under Executive
Goods or Properties be subject to zero percent Order NO. 226, otherwise
(0%) rate: known as the "Omnibus
Investment Code of 1987",
(3) Sale of raw materials or and other special laws; and
packaging materials to
export-oriented enterprise (5) The sale of goods,
whose export sales exceed supplies, equipment and
seventy percent (70%) of fuel to persons engaged in
total annual production; international shipping or
international air transport
(4) Sale of gold to the operations; Provided, that
Bangko Sentral ng Pilipinas the goods, supplies,
(BSP); and equipment and fuel shall be
used for international
(5) Those considered export shipping or air transport
sales under Executive Order operations;
NO. 226, otherwise known
as the "Omnibus Investment (6) Direct exports by a
Code of 1987", and other registered export producer
special laws; and of export products, or the
sales of export products, or
(6) The sale of goods, the sales of export products
supplies, equipment and to another export producer
fuel to persons engaged in or to an export trader, as
international shipping or defined under Executive
international air transport Order No.226 and other
Subject Present Rules Proposed Rules
SEC. 108. Value- (A) Rate and Base (A) Rate and Base
added Tax on Sale of Tax.- There shall of Tax.- There shall
of Services and be levied, assessed be levied, assessed
Use or Lease of and collected, a and collected, a
Properties value-added tax value-added tax
equivalent to ten equivalent to twelve
percent (10%)of percent (12%)of
gross receipts derived gross receipts
from the sale or derived from the sale
exchange of services, or exchange of
including the use or services, including
lease of properties the use or lease of
xxx xxx xxx properties xxx xxx
xxx
Subject Present Rules Proposed Rules