Input and Output VAT

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1. In the VAT system, what is output tax? Multiple Choice Easy
2. Which ordinarily describes input VAT in a qualifying business purchase by a VAT-registered person? Multiple Choice Easy
3. When a quarter's output VAT exceeds allowable input VAT, Section 110 ordinarily requires what treatment of the excess? Multiple Choice Easy
4. A VAT-registered seller has P60,000 output VAT and P36,000 fully allowable input VAT for the quarter. No other credits … Multiple Choice Medium
5. A VAT-registered seller has P20,000 output VAT and P30,000 allowable input VAT. No special refund ground or other adjus… Multiple Choice Medium
6. A VAT-registered business has ordinary taxable sales and VAT-exempt sales. A particular input VAT amount is directly an… Multiple Choice Hard
7. A VAT-registered retailer substantiates P48,000 allowable input VAT against P72,000 output VAT. Its accountant subtract… Multiple Choice Hard
8. Define input and output VAT in a seller's ordinary taxable business and explain how fully allowable input VAT affects o… Essay Medium
9. A quarterly return shows P120,000 output VAT, P80,000 current allowable input VAT and P10,000 valid unused input carryo… Essay Medium
10. Explain why excess input VAT does not by itself establish an immediate right to a cash refund, and why a mixed-activity… Essay Medium
11. Under current Section 110(A)(1)(b), what condition describes a purchase of services capable of giving rise to creditabl… Multiple Choice Easy
12. What must have happened to the agreed payment period before the Section 110(D) uncollected-receivable output VAT credit… Multiple Choice Easy