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    Glossary - Transfer Taxes

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    rubbtuna
    The document discusses key concepts related to value-added tax (VAT) in the Philippines. It states that VAT should not be imposed on goods destined for consumption outside the taxing authority's territorial borders (Cross Border Doctrine). It defines VAT as a tax on consumption levied on the sale or import of goods, properties, or services in the Philippines. It also defines VAT-Registered Person as someone registered according to the law and VAT-Registrable Person as someone required to register but failed to do so.

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    Glossary - Transfer Taxes

    Uploaded by

    rubbtuna
    21 views1 page
    The document discusses key concepts related to value-added tax (VAT) in the Philippines. It states that VAT should not be imposed on goods destined for consumption outside the taxing authority's territorial borders (Cross Border Doctrine). It defines VAT as a tax on consumption levied on the sale or import of goods, properties, or services in the Philippines. It also defines VAT-Registered Person as someone registered according to the law and VAT-Registrable Person as someone required to register but failed to do so.

    Original Description:

    Glossary on Tax Terms (Transfer Taxes)

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    The document discusses key concepts related to value-added tax (VAT) in the Philippines. It states that VAT should not be imposed on goods destined for consumption outside the taxing authority's territorial borders (Cross Border Doctrine). It defines VAT as a tax on consumption levied on the sale or import of goods, properties, or services in the Philippines. It also defines VAT-Registered Person as someone registered according to the law and VAT-Registrable Person as someone required to register but failed to do so.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    21 views1 page

    Glossary - Transfer Taxes

    Uploaded by

    rubbtuna
    The document discusses key concepts related to value-added tax (VAT) in the Philippines. It states that VAT should not be imposed on goods destined for consumption outside the taxing authority's territorial borders (Cross Border Doctrine). It defines VAT as a tax on consumption levied on the sale or import of goods, properties, or services in the Philippines. It also defines VAT-Registered Person as someone registered according to the law and VAT-Registrable Person as someone required to register but failed to do so.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    -V-

    Cross Border Doctrine. No VAT shall be


    imposed to form part of the cost of the
    goods destined for consumption outside the
    territorial border of the taxing authority.
    Value Added Tax. It is a tax on
    consumption levied on the sale, barter,
    exchange or lease of goods or properties or
    services in the Philippines and on
    importation of goods into the Philippines.
    VAT-Registered Person. Refers to a VAT
    person who is registered in accordance with
    the law or who opted to be registered as a
    VAT person.
    VAT-Registrable Person. Refers to any
    person who is required to register but failed
    to do so.

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