Statement1: The sale of a residential dwilling by a non-dealer is subject to VAT if the selling price per unit does not exceed P3,199,200
Statement1: The sale of a residential dwilling by a non-dealer is subject to VAT if the selling price per unit does not exceed P3,199,200
Chapter26: Tax Practice And Ethics
Section: Chapter Questions
Problem 10DQ
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Question
Statement1: The sale of a residential dwilling by a non-dealer is subject to VAT if the selling price per unit does not exceed P3,199,200
Statement2: The leasing ot residential units is exempt from VAT if the annual rentals do not exceed P15,000 per unit
a. Both Statements are false
a. Both Statements are false
b. Both Statements are true
c. Statement 1 is true while Statement 2 is false
d. Statement 1 is false while Statement 2 is true
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