VAT Entities. Objectives. After this presentation, you should be able to: Determine taxpayers required to register under the VAT system Identify the tax consequence of failing to register as VAT entity Identify entities exempt from VAT Discuss optional registration in VAT. - PowerPoint PPT Presentation
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VAT Entities
Objectives
After this presentation, you should be able to:• Determine taxpayers required to register
under the VAT system• Identify the tax consequence of failing to
register as VAT entity• Identify entities exempt from VAT• Discuss optional registration in VAT
Required Registration
Required Registration
Natural or Artificial Beings
Required Registration
Natural or Artificial Beings
Required Registration
Natural or Artificial Beings
Required Registration
Natural or Artificial Beings
> P 1,919,500.00
Required Registration
Natural or Artificial Beings
> P 1,919,500.00
Required Registration
Natural or Artificial Beings
> P 1,919,500.00
Required Registration
Required Registration
Required Registration
Required Registration
Required Registration
> P 10 Million
Required Registration
> P 10 Million
Required Registration
> P 10 Million
Required Registration
Required Registration
Existing Business
Required Registration
Existing Business
> P 1,919,500.00
Required Registration
Existing Business
> P 1,919,500.00Any 12-month
period
Required Registration
Existing Business
> P 1,919,500.00Any 12-month
period
Required Registration
Existing Business
> P 1,919,500.00Any 12-month
period
Required Registration
Required Registration
• Register within 10 days after the end of the month when the threshold was met
Required Registration
• Register within 10 days after the end of the month when the threshold was met
• Liable to VAT on the first day of the month after registration