I. "ALL business transactions" in the Philippines are either subject to VAT or OPT (not both).
II. When a transaction is VAT exempt (A- AA of Sec 109), the transaction is subject to zero rated VAT or 0% VAT.
A. True True
B. True False
C. False False
D. False True

Question

26-06-2024
Business

Answered

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I. "ALL business transactions" in the Philippines are either subject to VAT or OPT (not both).
II. When a transaction is VAT exempt (A- AA of Sec 109), the transaction is subject to zero rated VAT or 0% VAT.
A. True True
B. True False
C. False False
D. False True

Sagot :

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