Value Added Tax and Other Percentage Tax
About the Training/Workshop
Overview
The BIR, in order to increase and enhance voluntary compliance, issued a Value Added Tax (VAT) Audit Program which focuses on conducting a quality audit by the selected VAT audit team. Separate Letter of Authority for examination of the VAT is being issued pursuant to the Audit Program. VAT rules are very complex and always subject to a different interpretation which the taxpayers find it hard to comply. Thus, in order to minimize potential VAT exposure and risk, understanding its rules and regulation is highly important.
Percentage tax is also included to further expand our knowledge on other business tax.
Who Should Participate
• Business owners (single proprietor or stockholders)
• Business managers and other employees
• Accountants (whether employee or practitioner)
• Others who want to know more about VAT, percentage tax, and tax updates
Key Topics
I. Basic Principles
1. Definition/Nature
2. Computation
II. Vat on a sale of goods and properties and services
1. VAT Base
2. 12%, 0%, and Exempt Sales
3. Transaction deemed sales
III. Input Tax
1. Sources of Input VAT
2. Apportionment of Input Tax
3. Substantiation of Purchases
4. Requirements for claiming input tax
5. Input VAT on Capital Good
6. Construction in Progress
IV. Zero Rated Sales
1. Types of Zero Rated Sales
2. Automatic Zero Rated Sales
3. Effectively Zero Rated Sales
V. Vat Exemptions
1. VAT Exempt transactions
VI. VAT Registration
1. APerson required to register
2. Venue
3. Grounds for Cancellation
VII. Invoicing Requirements
1. Supporting Documents
2. Effects for failure to comply with invoicing requirements
3. Required Information in OR and Invoices
VIII. VAT Returns and Compliance
1. Computation
2. VAT Returns
3. Reminders on Preparation of VAT Return
4. Summary List of Sales and Purchases
5. Withholding VAT
IX. Other Percentage Tax
1. 3% percentage tax
2. Tax on banks and non-bank financial intermediaries with QB functions
3. Tax on financial intermediaries without QB functions
4. Tax on domestic common carriers
5. Tax on international carriers (by air or water)
6. Tax on franchise grantees of water, gas and broadcast stations
7. Tax on life insurance companies
8. Tax on operators of amusement and recreation place
----------------------------------------------------------------------------
Click here to -> CHECK SCHEDULE
TIME: 9:00 AM to 4:00 PM
VENUE: Unit 2 2/F Intellect Bldg. MacArthur Highway, Brgy. San Sebastian, Tarlac City, Tarlac
----------------------------------------------------------------------------
Click here to -> DOWNLOAD MANUAL REGISTRATION
OR
Click here to -> REGISTER ONLINE
----------------------------------------------------------------------------
Contact Details:
Contact Numbers: (045) 923.1751 or text/call 0920.959.4020 or 0949.993.9043
For inquiries, you may also leave a message in our CONTACT FORM.