What to attach return to VAT exemption is possible for an entrepreneur when does not perform the activities list in Art. Section of the VAT Act, does not exce , in turnover in the current and previous tax year. At least one year has pass since the end of the year. In which he lost or resign his sick leave. How to calculate the sales value of. The entrepreneur does not include the tax amount in the limit of and intra-Community. Supply of goods intra-Community distance sales of goods EES. Which is not subject to tax within the territory of the country, distance sales of import goods, which are not subject to tax.
In the territory of the country
Paid supply of goods and paid provision of services, exempt from tax under Art. section or regulations issu pursuant to Art. section , except a real estate transactions, b services referr to in Art. section points , and – , c insurance services – if these activities philippines photo editor do not constitute ancillary transactions; paid supply of goods which, pursuant to income tax regulations, are classifi by the taxpayer as fix assets and intangible assets subject to depreciation. Examples of returning to VAT exemption Example.
In March the entrepreneur
Resign from the VAT exemption. In , its sales value amount to , . In January , it expand its business to provide legal services and would like to return to VAT exemption from May . Even though he has not exce the sales limit, he cannot return to the exemption due to the provision of services that oblige him to be an active VAT payer. Example The entrepreneur CL Lists open a business in September and waiv the personal VAT exemption. He would like to return to the subjective exemption from October , because the sales value in proportion to the period of his business amount to.