30 Questions
What type of tax is Final Withholding VAT on importation?
Indirect business tax
Who are the statutory taxpayers for VAT on importation?
Importers/buyers
When is the timing of payment for Final Withholding VAT on importation?
After the month of payment
What types of consumption taxes are imposed on goods and services through importation?
VAT and Final withholding VAT
What defines Vatable importation?
Importation of goods subject to VAT
Who collects the tax for VAT on importation and Final Withholding VAT?
Bureau of Customs and Bureau of Internal Revenue
Which of the following is NOT considered a basic necessity exempt from VAT on importation?
Automobile spare parts
What type of publications are exempt from VAT on importation according to the text?
Books and newspapers
Who are allowed VAT-exempt importation of fuel, goods, and supplies according to the text?
International shipping operators
What is a specific exemption from VAT on importation for cooperatives mentioned in the text?
Machineries for direct farm inputs
Which of the following is NOT included in the list of goods exempt from VAT on importation in the text?
$5(7 + 3)$
What type of goods are considered basic necessities exempt from VAT on importation?
Marine food products in original state
Who is responsible for paying VAT on importation when scrap metals are sold from a PEZA locator to a customs territory buyer?
Customs territory buyer
What is the tax treatment for sales to Ecozones in terms of VAT?
Zero-rated VAT
In a technical importation scenario, who typically pays the VAT on importation?
Non-Ecozone Philippine residents
When a PEZA locator resells a machinery to a person outside the zone, who is required to pay the VAT on Importation?
Person outside the zone
What is the tax treatment for sales to Ecozones in terms of business tax for non-VAT taxpayers?
Exempt from business tax
When a PEZA locator resells a machinery to a fellow PEZA-locator within the ecozone, who is required to pay the VAT on Importation?
PEZA locator
Who is required to pay the VAT on Importation for goods or services purchased by Philippine residents from nonresident sellers?
The Philippine resident purchaser
In the scenario provided, is S3 required to pay the VAT on Importation for the machinery purchased from KT?
No
For the machinery resold to T4, who is required to pay the VAT on Importation?
T4
Which situation qualifies as Quasi-Importation under Philippine tax laws?
Resettlement of non-resident citizens in the Philippines
What type of goods are typically involved in Quasi-Importation according to the text?
Personal and household effects
Who bears the responsibility for payment of VAT on Importation for personal and household effects imported under Quasi-Importation?
The returning residents or non-resident citizens
What is an example of a VATABLE Import of Service?
Services rendered to local insurance companies by non-residents
Who is responsible for paying the 5% percentage tax on premium payments for insurance policies directly sourced abroad?
Individual purchasers
Which scenario exempts an individual from the final withholding VAT when purchasing services from non-residents?
The individual purchaser is not engaged in business
What is the only import of service currently subject to a percentage tax?
Direct acquisition of insurance cover from abroad
Which type of service would NOT be considered VATABLE Import of Service?
Purchase of services from non-residents by VAT-exempt persons
Who should pay the final withholding VAT when purchasing services from non-residents?
Individual purchasers
This quiz covers the topic of consumption tax on importation, focusing on the Value-Added Tax (VAT) and types of taxes applicable to goods brought into the Philippines. Test your knowledge on VAT and other relevant concepts related to importation.
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