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Free Legal Advice Philippines » GENERAL PRINCIPLES, UPDATES » LEGAL MATTERS, GEN PRINCIPLES, DOCTRINES, UPDATES » Taxation » VAT exemption to Seniors.

VAT exemption to Seniors.

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1VAT exemption to Seniors. Empty VAT exemption to Seniors. Wed Apr 27, 2016 9:56 am

atie


Arresto Menor

May i ask from members of this forum for an answer to this matter?
Aside from senior citizen discount, seniors are also exempted form VAT. For the point of view of tax payers, how are they going to address this regulation? Is Vat exemption only provided by VAT registered tax payers? How about Non-VAT taxpayers? Are they going to compute for senior discount directly 20%?

2VAT exemption to Seniors. Empty Re: VAT exemption to Seniors. Wed Aug 24, 2016 5:19 pm

eric_6b122007@yahoo.com


Arresto Menor

Whether VAT or Non-VAT Taxpayers, Senior Citizen are entitled to VAT exemption as per IRR of RA 9994 (Expanded Senior Citizen Act of 2010) and as per BIR RR 7-2010. VAT is a privilege given to Senior Citizens not on suppliers of goods or services to them. For the computation the 20% discount shall be computed on Gross including VAT of which a senior citizen was exempt therefore the 20% discount shall be directly deducting on the Gross.

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Free Legal Advice Philippines » GENERAL PRINCIPLES, UPDATES » LEGAL MATTERS, GEN PRINCIPLES, DOCTRINES, UPDATES » Taxation » VAT exemption to Seniors.

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