All ▸ Bar 2024 ▸ COMMERCIAL AND TAXATION LAWS ▸ XIII. TAXATION LAW (R.A. No. 8424, as amended by R.A. No. 10963, R.A. No. 11534) ▸ J. Value-Added Tax (VAT) (R.A. No. 8424, as amended, R.R. No. 16-2005, as amended) ▸ 4. Transactions Deemed Sale Subject to VAT

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Value-Added Tax (VAT) - Transactions Deemed Sale Subject to VAT

In accordance with the provisions of the Republic Act No. 8424, as amended, and Revenue Regulation No. 16-2005, as amended, certain transactions are deemed sale subject to Value-Added Tax (VAT). Analyze the following scenarios and determine whether the transactions are subject to VAT:

ABC Corporation, a manufacturing company, imports raw materials for its production. The raw materials are for direct use in the manufacturing process and will be converted into finished goods for sale.
XYZ Law Firm rendered professional services to a client who is a foreign-based individual and the service was performed outside the Philippines.
DEF Company sold a residential house and lot to a buyer, who is an individual, for his personal use and not for business purposes.
MNO Hardware Store imported construction materials for sale to contractors and individual customers for their construction projects.
PQR Corporation purchased a brand new delivery truck for its business operations.

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