Value Added Tax (VAT) and its Characteristics

[@christopheropena0123]

thank you so much po sirrrrr,,, VAT na po kami mamaya 🤩

[@lovelyjanelatorre2266]

Done Sir, salamat po! INPUT VAT VS. OUTPUT VAT Output VAT is VAT in which you compute and collect in selling goods and services. On the other hand, input VAT is VAT which is added to the price when purchasing vatable goods or services.

[@christopheropena0123]

Ganda ng discussion sa characteristics sir. Common misconception kasi sa karamihan especially if ordinaryong tao lang kapag naririnig ang VAT is natratransfer 'yung liability to pay tax but it's actually the tax burden that is shifted. 🤩

[@dorothymaeerro7772]

thank you, sir!

[@lynirishcuerdo9377]

Done po sir, thank you po 💜 Output VAT (VAT on sales) /Input VAT (VAT on purchases) = VAT Payable (to be remitted to the BIR by the taxpayers) Input VAT - considered as Asset Output VAT - considered as Liability

[@angelcorpuz2272]

Done watching months ago sir but forgot to leave a comment. Thank you Sir!

[@johncarloolaguer3227]

Done Sir, Thank you po. Import is when a company buys goods from another country, with an aim of reselling it in the domestic market. Export is when a company provides goods and services to the other countries for selling purposes.

[@maryjoycabalterarejuso1755]

Done watching po, salamat.

[@erikaperena637]

Done po, Sir. Thank you po 😊 Importation is buying goods from other country and "importing" here in our home country. Exportation is selling our goods from our home country to other country.

[@pauloherce3045]

Done po, Sir. Thank you po Constructively received/receipt is a taxation concept under which a taxpayer is assumed to have received income even if the income has not yet been physically received.

[@cinderellamanguiat1848]

Done po Sir. Thank you and God bless po. IMPORTATION - refers to buying of goods and services from foreign source or other countries and bring them in to our country. EXPORTATION - refers to the process of selling goods and services in foreign countries that are made in our country. CONSTRUCTIVELY RECEIVED/RECEIPT - refers to situations where income can be used despite the fact that this money has not yet been received in actuality.

[@justinerosevaldellon4696]

Done po sir! Thank you po ❤️ The difference between importation and exportation. Importation is when company buys good from other countries while exportation is when company provides goods to other countries.

[@mariaangelafrancescaebreo7258]

4:36PM, thank you so much sir!! *Difference between importation and exportation* Import is a type of trade in which goods are purchased from other countries by a domestic company for resale in the domestic market. Export, on the other hand, denotes a trade in which a company sells goods manufactured in its own country to other countries. *Difference between actually and constructively received* Constructive receipt is defined as the point at which the person receiving the income first gains control over that income. At that point, the entity has the option to spend, redirect, or otherwise control the income. Hence, an actual receipt is another term for expressing possession of sale proceeds. A check for the sale proceeds is a common type of actual receipt. *Differences between the output vat, input vat , and vat payable* If you are registered in the VAT Register, *Output VAT* is the value added tax you calculate and charge on your own sales of goods and services. *Input VAT* is the value added tax that is added to the price of goods or services that are subject to VAT. The difference between the Output and Input becomes your *VAT Payable* This is the amount you must pay the tax authorities.

[@jaymiefayetarzona6172]

Done watching po, thank you sir!

[@annajeanbreis2822]

Done na po sir. Thank you po.

[@redjanesoberano9667]

Done watching sir💖. Thank you po💕

[@jessicamaegualberto915]

Done, thank you po! ❤️

[@genesismadrigal2596]

Done po, thank you Sir and God bless ♡

[@mariafatimaem800]

Done na po sir. Thank you po❤️

[@angelicamaebenalla6042]

Done na po. Thank you

[@bernicerosesantos2833]

Done Sir, thank you so much ♥️ Importation - the bringing of goods or services into a country from abroad for sale. (Oxford Dictionary) Exportation (Export) - to sell and send goods to another country. (Oxford Dictionary) Output VAT - is a VAT on "Sale" Input VAT - is a VAT on "Purchase" VAT Payable - is simply the difference between Output VAT and Input VAT. [ Output VAT - Input VAT = VAT Payable ]

[@charlesrusselaseoche8302]

IMPORTATION are derived from the conceptual meaning, as to bringing in the goods and services into the port of a country. On the other end, EXPORTATION refers to selling of goods and services produced in the home country to other markets (foreign countries). Done po Sir, Thank you and God bless po. ❤️

[@charlesrusselaseoche8302]

Constructive receipt/ constructively received is an accounting term that requires an individual or business to pay taxes on income despite the fact that the money has not yet been received in actuality.

[@ma.cristinejoycedime3564]

Done, Sir. Thank you po!

[@jannamaesantos4309]

Done, Sir. Thank you po

[@johnphilipcuaterno2540]

done watching po

[@mildredteja3465]

Sir I've already watched this playlist 3 months ago po nalimutan lang po mag comment thank you Sir.

[@kriz-annejaen6997]

Done, sir! Thank you po 😊

[@nicolecatamio2050]

Importation - buying of goods or services outside the country Exportation - selling of goods or services from home country to other foreign countries

[@nicolecatamio2050]

Done po, thank you sir :)

[@angelmaemonreal821]

Difference between importation and exportation. Exportation is defined as the sale of goods and services in foreign countries that are made in the home country. Importation is the flip side of exportation. It refers to buying goods and services from foreign sources and bringing them back into the home country.

[@angelmaemonreal821]

Done po Sir. Thank you po and God bless ❤️

[@jimbellequinto5104]

Done, Sir. Thank you po ❣️

[@marielalberto3035]

done po, thank you ☺️

[@jamesssadea]

Done po, Sir. Thank you po! ♡

[@jamesssadea]

Difference between Importation and Exportation Import occurs when a corporation purchases items from another country with the intention of reselling them in the home market. When a corporation exports goods and services to other countries for resale, it is doing it for profit. Constructively Received Constructive receipt refers to situations in which revenue can be used even though it has not yet been physically received. Even if they do not have custody of the funds, taxpayers must include any income on their taxes based on the year that income was constructively received. Differences between the Output Vat, Input Vat, and Vat Payable Output VAT is the tax on products and services that you must compute and collect if you are enrolled in the VAT Register. Input VAT is VAT that is incorporated in the price of vatable items or services purchased for your firm. VAT payable, often known as output VAT, appears on bills sent to customers. The Output VAT is subtracted from the amount of Input VAT you have at any given time. The difference (output-input) generates your tax liability. This is the amount you must pay the tax authorities.

[@noturbusiness_000]

Done sir nalimutan pong mag comment. Thank you po!

[@bernicerosesantos2833]

Output VAT - is a VAT on "Sale" Input VAT - is a VAT on "Purchase" VAT Payable - is simply the difference between Output VAT and Input VAT. [ Output VAT - Input VAT = VAT Payable ]

[@joshuaatilano4420]

Done po sir! Thank you po

[@aldrinmacalos7922]

DONE SIR!

[@akissahdatusimban2767]

INPUT VAT - this is the VAT you "PAY ON PURCHASES" OUTPUT VAT - this is the VAT you "ADD ON SALES" VAT PAYABLE - excess OUPUT over INPUT Done na po Sir, thank you po :)

[@SirATheCPAProf]

Correct!

[@jhorellelynnilagan8486]

Importation refers to selling of goods and services from the home country to a foreign nation. Exportation refers to the purchase of foreign products and bringing them into one’s home country.

[@jhorellelynnilagan8486]

Done po, Sir. Thank you po.

[@johncarloreyes1881]

Done po sir, thank you po.

[@cyrentibayan8608]

Done po sir, thank you po. 💙

[@arerjiesonvillaflor9520]

Done po sir thank you✨

[@camilleesplana5146]

It is a sort of international or foreign trade in which goods or services are purchased from another country and then sold in the importing country's domestic market. To put it another way, one country buys goods and services from another. It is a sort of international or foreign trade in which one country's goods or services are sent or sold to another. To put it another way, exporting entails sending locally produced goods to consumers in another country.

[@camilleesplana5146]

done po. thankyou po!💖

[@karenordinado5271]

Done po Sir, Thank you po :)

[@fritzschuck6474]

Hi sir... Do u have soft copy of ur presentation? Can I have a copy po? Ty

[@labastidanerissa9062]

Sana full coverage San vat law and train law ..

[@jescelmaedelapena839]

EXPORTATION is the act of SELLING products/services made INSIDE the country while IMPORTATION is the act of BUYING products/services made from OUTSIDE the country that's why it is also known as global SOURCING.

[@jescelmaedelapena839]

Done po.

[@SirATheCPAProf]

Thank you Jescel.

[@erickamorfe8673]

Done po Sir, thank you po 😇

[@allysamaycosico9670]

Done po Sir!

[@jhirienebaldemor5324]

Done po Sir

[@aillencariazo2400]

Import - BUYING goods and services FROM other countries TO home country Export - SELLING goods and services FROM home country TO other countries

[@SirATheCPAProf]

Thanks Aillen!

[@aillencariazo2400]

Done watching, Sir. Thank you po! Well-explained 💛

[@Euu7836]

Done po

[@kateannadvento261]

Done po, Sir. Thank you po!

[@nadinerevilla7323]

Done po, Sir! Thankyou po!

[@denissebangug361]

done po sir, thank you po!

[@nikkademesa9559]

Done po, Sir. Thank you po! 💛

[@ellamaerosariaolisa4138]

Done sir, thankyou po!💞

[@angelouengracia8931]

Done po. Thank you Sir!☺️

[@rocelpaz55]

Done, sir. Thank you po❤️

[@carylmaepullaroste]

Done po Sir. Thank you po.

[@reginemacaro5170]

Done po Sir thank you po❤

[@keitherickamulingbayan2712]

Done po sir, thank you po :)

[@renalynabulon645]

Done po Sir

[@jadielynpasahol7317]

Done, Sir. Thank you so much po.

[@maryjoynadal7901]

Done po, Sir. Thank you po!

[@jamietimtiman4122]

Done po sir. Thankyou po 😊

[@ricalamberte1353]

Done po sir. Thank you po.

[@milliezentdimaano1533]

Done po sir, thank you po.

[@wincellmorales7064]

Done po, Sir. Thank you po ❤️