Problem regarding the zero-rated vat


Question: Assuming the taxpayer is a VAT-registered person and exceed the P3M threshold, if applicable, determine whether the following transactions are either (a) Zero-rated VAT, (b) Subject to 12% VAT, (c) VAT-Exempt 1. Gross receipts of professional practitioners A.Zero-rated VAT B.Subject to 12% VAT C.VAT-Exempt

 

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Accounting Basics: Problem regarding the zero-rated vat
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