LEARN YOUR TAX PAYABLES TO AVOID MORE PAYABLES! dapat free ang training nila provided.. I. Duties of Taxpayers under the VAT law and its implementing regulations a. Registration of taxpayer and securing TIN b. Keeping of books of accounts c. Issuance of VAT sales invoices and receipts d. Filing of VAT returns and payment of tax e. Withholding of VAT on certain taxable transactions f. Submission of Summary Lists of Sales and of Purchases II. Characteristics of VAT System a. Tax on value added b. Sales tax on consumption c. Indirect tax d. Tax credit or invoice method e. Tax-inclusive method f. Destination or cross-border principle g. VAT does not cascade III. Persons Subject to VAT a. Regular persons b. Special persons, including spouses, joint ventures, government, non-stock, non-profit associations and condominium corporations IV. Taxable Transactions, Tax Bases and Tax Rates a. Requisites for taxation of sale (actual or deemed) or lease of movable goods b. Requisites for taxation of sale or lease of real properties c. Requisites for taxation of importation of goods d. Requisites for taxation of sale of services, including tollway operations e. Tax bases: sales of goods, properties and services, and importation of goods f. Tax rates: 12% or 0% (automatic or effectively zero rated) g. Penalty for issuing VAT sales invoice or receipt for exempt transaction h. Final withholding VAT on certain transactions V. Exempt Transactions a. Exempt sale or importation of goods b. Exempt sale or lease of real properties and shares of stocks under the Lending and Borrowing of Securities Regulations c. Exempt sale of services d. Other exempt transactions under the Tax Code e. Exempt transactions under special laws, including Senior Citizens Law and Law on Persons with Handicap, Real Estate Investment Trust (REIT) Law f. Tax-free exchanges under Section 40©(2) of the Tax Code VI. Input Taxes a. Sources of input taxes b. Substantiation of, or documents to entitle taxpayer to claim, input tax credit c. Types of input taxes d. Allocation of input taxes e. Input taxes on capital goods f. Remedies on unused excess input taxes, including claims for refunds or tax credits VII. Other Percentage Taxes a. 3% percentage tax b. Tax on banks and non-bank financial intermediaries with QB functions c. Tax on financial intermediaries without QB functions d. Tax on domestic common carriers e. Tax on international carriers (by air or water) f. Tax on franchise grantees of water, gas and broadcast stations g. Tax on life insurance companies h. Tax on operators of amusement and recreation places VIII. Recent Supreme Court and CTA Decisions on VAT a. VAT on tollway operators (to be implemented effective Oct 1, 2011) b. Transitional input tax on land enjoyed by persons engaged in real estate business c. Zero-rating of transactions by or with persons registered with and located in special economic or freeport zones d. Sale of motor vehicles by persons enjoying benefits under PEZA or SBMA laws to their officials e. Business tax liability of movie houses and theaters as well as day and night clubs IX. Proposed Bills in Congress, including Value Added Simplified Tax (VAST) Speaker: Atty. Victorino Mamalateo LL.M (Harvard), LL.B. (MLQU), MBA (UE), BBA-CPA (UM) Author, Philippine Income Tax Reviewer on Taxation Co-Author, The Value Added Tax in the Philippines Pre-Week Bar Reviewer, Ateneo de Manila University (1995) Professor of Law, University of the Philippines (1989-to date) CREBA, De La Salle University / St. Benilde (2002-2004) Senior Tax Consultant (2001-to date); Managing Head, Tax Division (1994-2001); Punongbayan & Araullo, CPAs Assistant Commissioner (Assessment): Bureau of Internal Revenue For More Details / Inquiry / Reservation, Please call us Grace Cleofe Tele Fax: 904-1782, 470-1055 or Call/Text: 0917-3057276, 0927-8263177 Email: info@powermaxph or log-on: powermaxph Date : January 21, 2015 Time : 9:00am - 5:00pm Venue : RCBC Plaza Makati (Inclusive of seminar kit, certificates and am snacks, lunch and pm snacks) Super Saver Rate Php 3,995 + VAT (Until Jan. 7) Early Bird Rate Regular Rate Php 4,695 + VAT Php 4,995 + VAT (Jan. 8 - 14) (starting Jan. 15) Group Rate Php 4,395 + VAT per pax (5 pax or more) For your convenience, you may deposit your payment at any branch of BANCO DE ORO (BDO) Account Name: Powermax Consulting Group Inc. Account Number: 4950214023
Posted on: Tue, 13 Jan 2015 09:18:48 +0000