what are "VAT" and "Non-VAT" business?
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what are "VAT" and "Non-VAT" business?

This is a discussion on what are "VAT" and "Non-VAT" business? within the Business, Finance & Economics Discussions forums, part of the Commerce category;

  1. #1
    Junior Member creation's Avatar
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    Default what are "VAT" and "Non-VAT" business?


    mga fellow istoryans, unsa inoyng ideas about sa VAT ug Non-VAT business? unsa nga business kanang gamay ra mabayaran nga vat?

  2. #2
    C.I.A. PR0CESS0R's Avatar
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    1 to 1.499m yearly income = non-VAT (3% tax BIR)
    1.5M above yearly income = VAT (12% tax BIR)

    Mao na gi sulti sa taga BIR pag seminar.

    Ikaw ang mo determine kong non-VAT or VAT business.
    Last edited by PR0CESS0R; 02-19-2010 at 11:23 AM.

  3. #3
    Elite Member koykoy's Avatar
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    in addition to the above, naay mga VAT EXEMPT business like banks, etc.

    If VAT business ka, 12% imo sales tax but maka claim ka ug INPUT VAT, equivalent to 12% pud sa net of tax amount sa imo gi purchase.

    Kung NONVAT business ka, naa ka sales tax but dili naka maka claim ug INPUT TAX. Ang rate sa tax mag depende sa type of business.

    check out Bureau of Internal Revenue Website for more info

  4. #4
    Junior Member creation's Avatar
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    salamat, pero ask pako, what if kung gasolina akong na purchase (non-vat/vat exempt sila), pwedi ta mu claim ug vat input?

    Quote Originally Posted by koykoy View Post
    in addition to the above, naay mga VAT EXEMPT business like banks, etc.

    If VAT business ka, 12% imo sales tax but maka claim ka ug INPUT VAT, equivalent to 12% pud sa net of tax amount sa imo gi purchase.

    Kung NONVAT business ka, naa ka sales tax but dili naka maka claim ug INPUT TAX. Ang rate sa tax mag depende sa type of business.

    check out Bureau of Internal Revenue Website for more info

  5. #5
    Junior Member creation's Avatar
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    thanks processor, asa ko pwedi mu attend seminars sa BIR? mag start paman gud kog business, wala pajud ko know how ani...

    Quote Originally Posted by PR0CESS0R View Post
    1 to 1.499m yearly income = non-VAT (3% tax BIR)
    1.5M above yearly income = VAT (12% tax BIR)

    Mao na gi sulti sa taga BIR pag seminar.

    Ikaw ang mo determine kong non-VAT or VAT business.

  6. #6
    Elite Member koykoy's Avatar
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    nope.dili ka claim ug input vat kay wala man sila nagbayad ug vat in the first place.

    ang principle gud sa VAT kay transferrable tax. so maka claim lang ka ug input tax kung nakabayad ka ug VAT ani (which in turn gi remit sa imo gipalitan)

  7. #7
    Junior Member creation's Avatar
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    ic, murag tax reimbursement ni cya nga style? aron dili ma double ang tax sa usa ka butang...sakto ba?

    Quote Originally Posted by koykoy View Post
    nope.dili ka claim ug input vat kay wala man sila nagbayad ug vat in the first place.

    ang principle gud sa VAT kay transferrable tax. so maka claim lang ka ug input tax kung nakabayad ka ug VAT ani (which in turn gi remit sa imo gipalitan)

  8. #8
    Elite Member koykoy's Avatar
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    yes. that's it. it's called an indirect tax kay ang pinaka last nga consumer jud ang mu bear sa burden sa tax, provided na walay non-vat taxpayer sa chain.

  9. #9
    Junior Member creation's Avatar
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    thanks koykoy

    another question, for a beginner like me sa business, do i have to hire accountant or bookkeeper? or makaya rana nako mag posting, monthly tax remitance, etc... or needed jud kanang CPA mu buhat ana.

    naa bay seminars about ani nga topic? like how to start a new business, bookkeeping etc...

  10. #10
    Elite Member koykoy's Avatar
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    yes, naay seminar sa bir ana. try lang adto sa bir office and naa pud na sila mga flyers on how to start.

    naay limit ang income na kelangan na ug signature sa CPA during filing of income tax. it was 250k before, i dont know karon. as to kanang monthly returns, no need for a CPA kay imoha man na signature inig file.

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