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Is Train Travel Vatable. Log in or register to post comments. They are zero rated for vat.
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Would this mean that we have to pay the 3% of p50,500 which is p1,515 but our only income from that sale is p500. This indirect tax may be passed on to the buyer, transferee or lessee of the goods, properties, or services. This table shows which printed matter has standard rated vat and which products are.
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Although the rate of vat is 0%, it’s important to be aware that these goods and services are still considered to be subject to vat. A vat is a tax on consumption imposed on the sale, barter, exchange, or lease of goods, properties, and services in the philippines. The goods must be bought by you as the entity that is registered for vat and still held by you. Staff training would be regarded as a general overhead.
