Input VAT Explained: Actual, Transitional, Presumptive and Standard Input Tax

This video explains what Input Tax is and the kinds of input taxes in the Philippines, namely: Actual input tax, transitional, presumptive and standard (sale to government).

Input vat is a type of tax impose on the purchase of goods and services of a vat-registered person. it important that such purchases are evidence by a vat invoice (for goods) and official receipt (services) by a vat registered person.

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Time Stamp of Illustrative problems:
1. Actual Input Tax - https://tinyurl.com/yd688o8t
2. Transitional Input Tax - https://tinyurl.com/y7dl57ya
3. Presumptive Input Tax - https://tinyurl.com/ycwml2of
4. Standard Input Tax (Gov't. sales) - https://tinyurl.com/y98wnurv

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REFERENCES
BIR Website: https://tinyurl.com/y83vcofx
Revenue Regulations No. 16 - 2005: https://tinyurl.com/y7ssbyj2
BIR Form 2306: https://tinyurl.com/y8l7lplp

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