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Author Topic: VAT or Non-VAT  (Read 9241 times)

William Chan

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VAT or Non-VAT
« on: August 15, 2007, 04:28:34 pm »
Hi,

I am about to register my company with BIR. One of the things that I have to determine is whether to register my company as VAT or NON-VAT.

question sa mga may business na, how do you decide which one is more advantageous to you? Automatic ba kung food carts eh VAT yun option since yun have to include the VAT sa reciepts? What if kung services naman yun business? Non-VAT?

May way ba to determine kung ano mas ok?

Thanks in advance.
Green360 Laundry
"Doing your laundry while helping the environment"

makotosing

  • Part-time entrepreneur
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    • tyfarma audit tax consultancy
Re: VAT or Non-VAT
« Reply #1 on: August 29, 2007, 11:09:20 am »
Hi,

I am about to register my company with BIR. One of the things that I have to determine is whether to register my company as VAT or NON-VAT.

question sa mga may business na, how do you decide which one is more advantageous to you? Automatic ba kung food carts eh VAT yun option since yun have to include the VAT sa reciepts? What if kung services naman yun business? Non-VAT?

May way ba to determine kung ano mas ok?

Thanks in advance.

if youll have an annual sales of more than 1.5million..automatic vat po

makotosing.bravehost.com

usually pag new palang..non vat.di mo alam ang sales eh..
pero minsan advantage din ang vat..lao na pag marami kang purchases

Maximus

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Re: VAT or Non-VAT
« Reply #2 on: November 09, 2007, 02:11:21 am »
Sir,

What if nagsimula na yung business, tapos registered ka as Non-VAT.  Mid-year nag exceed ka na ng 1.5M pesos in sales. 

Paano mo i-issuehan ng resibo yun mga succeeding clients? plus 12% VAT na? kahit NON-VAT yung OR?

Also, paano naman yung mga sales na nangyari nung start nang year? kelangan bang dagdagan ng VAT yun?

Joel Raz

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Re: VAT or Non-VAT
« Reply #3 on: November 09, 2007, 01:53:35 pm »
If your business was a non-vat registered, but you exceed 1.5 million in sales in any 12 month period you are now subject to  vat , and required to file monthly and quarterly vat. You must ammend your certificate of registration from non-vat to vat taxpayers. Taxpayer become vat registered upon exceeding the minimum of 1.5 million shall be entitiled to transitional input tax of 2% of inventory beg. or actual vat paid on such goods, materials and supplies whichever is higher.

Maximus

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Re: VAT or Non-VAT
« Reply #4 on: November 12, 2007, 02:35:12 am »
Quote
transitional input tax of 2% of inventory beg. or actual vat paid on such goods, materials and supplies whichever is higher.

Sir, I don't understand this part.  Could you give some examples? Thanks

Joel Raz

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Re: VAT or Non-VAT
« Reply #5 on: November 12, 2007, 08:23:27 pm »
here's my cell number 09189457138, if you have some inquiries regarding taxes.