a. Registration of taxpayer and securing TIN
b. Keeping of books of accounts
c. Issuance of VAT sales invoices and receipts
d. Filing of VAT returns and payment of tax
e. Withholding of VAT on certain taxable transactions
f. Submission of Summary Lists of Sales and of Purchases

II. Characteristics of VAT System

a. Tax on value added
b. Sales tax on consumption
c. Indirect tax
d. Tax credit or invoice method
e. Tax-inclusive method
f. Destination or cross-border principle
g. VAT does not cascade

III. Persons Subject to VAT

a. Regular persons
b. Special persons, including spouses, joint ventures, government, non-stock,
non-profit associations and condominium corporations

IV. Taxable Transactions, Tax Bases and Tax Rates

a. Requisites for taxation of sale (actual or deemed) or lease of movable goods
b. Requisites for taxation of sale or lease of real properties
c. Requisites for taxation of importation of goods
d. Requisites for taxation of sale of services, including tollway operations
e. Tax bases: sales of goods, properties and services, and importation of goods
f. Tax rates: 12% or 0% (automatic or effectively zero rated)
g. Penalty for issuing VAT sales invoice or receipt for exempt transaction
h. Final withholding VAT on certain transactions

V. Exempt Transactions

a. Exempt sale or importation of goods
b. Exempt sale or lease of real properties and shares of stocks under the Lending and Borrowing of Securities Regulations
c. Exempt sale of services
d. Other exempt transactions under the Tax Code
e. Exempt transactions under special laws, including Senior Citizens Law and Law on Persons with Handicap, Real Estate Investment Trust (REIT) Law
f. Tax-free exchanges under Section 40©(2) of the Tax Code

VI. Input Taxes

a. Sources of input taxes
b. Substantiation of, or documents to entitle taxpayer to claim, input tax credit
c. Types of input taxes
d. Allocation of input taxes
e. Input taxes on capital goods
f. Remedies on unused excess input taxes, including claims for refunds or tax credits

VII. Other Percentage Taxes

a. 3% percentage tax
b. Tax on banks and non-bank financial intermediaries with QB functions
c. Tax on financial intermediaries without QB functions
d. Tax on domestic common carriers
e. Tax on international carriers (by air or water)
f. Tax on franchise grantees of water, gas and broadcast stations
g. Tax on life insurance companies
h. Tax on operators of amusement and recreation places

VIII. Recent Supreme Court and CTA Decisions on VAT

a. VAT on tollway operators (to be implemented effective Oct 1, 2011)
b. Transitional input tax on land enjoyed by persons engaged in real estate business
c. Zero-rating of transactions by or with persons registered with and located in special economic or freeport zones
d. Sale of motor vehicles by persons enjoying benefits under PEZA or SBMA laws to their officials
e. Business tax liability of movie houses and theaters as well as day and night clubs

IX. Proposed Bills in Congress, including Value Added Simplified Tax (VAST)

ATTY. VICTORINO MAMALATEO
-LL.M (Harvard), LL.B. (MLQU), MBA (UE), BBA-CPA (UM)
-Author, Philippine Income Tax Reviewer on Taxation
-Co-Author, The Value Added Tax In The Philippines
-Pre-Week Bar Reviewer, Ateneo de Manila University (1995)
-Professor of Law, University of the Philippines (1989-present)
-CREBA, De La Salle University-Saint Benilde (2002-2004)
-Senior Tax Consultant (2001 to date); Managing Head Tax Division (1994-2001); Punongbayan and Araullo, CPAs
-Assistant Commissioner (Assessment) : Bureau of Internal Revenue

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Please call us for reservation or inquiry

Look for KAYE

Landline: 470-1055 / 54
Mobile: 0905-336-4486

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or fill out the registration form below and fax it back to us

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SEMINAR INVESTMENT:
(Inclusive of seminar kit, certificate and snacks)

Early Bird Rate (until January 24, 2012) – P 4,395.00 + VAT
Regular Rate (starting January 25, 2012) – P 4,695.00 + VAT
Group Rate (5 pax or more) – P 3,995.00 + VAT / per pax

No. of PaxConference FeeDiscountNet Seminar Fee
per Paxper pax
______——Php_________ + VAT Php________ Php__________ + VAT
GRAND TOTAL Php __________

Name of Participants
1. __________________________ 6._____________________________
2.__________________________ 7._____________________________
3.__________________________ 8. _____________________________
4. _________________________ 9. _____________________________
5. _________________________ 10. ____________________________

Company Name__________________________________________________________
Address_________________________________________________________________
Tel Nos_______________________________Fax_________________________

AUTHORIZING OFFICER / CONTACT PERSON:
MR./MS. ___________________________________
POSITION __________________________________
EMAIL _____________________________________
CEL NO. ___________________________________
SIGNATURE _________________________________

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Pls. fax at 470-1055 / Kaye

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Please call us for reservation / inquiry
Look for KAYE

Landline: 470-1055 / 54
Mobile: 0905-336-4486

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OTHER FORTHCOMING SEMINAR/S:

1. Result Driven Purchasing Management
January 24, 2012 / 8:00am – 5:00pm / A-Venue, Makati City
2. Internet Marketing Executive Briefing
January 26, 2012 / 2:00pm – 5:00pm / A-Venue, Makati City
3. Company Policy
February 3, 2012 / 8:00am – 5:00pm / Crowne Plaza, Ortigas Center

IN-HOUSE SEMINARS:

1. Sales
2. Customer Service
3. Leadership
4. Teambuilding
5. Collection

Please call Jenn at 470-1055
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THANK YOU!

POWERMAX CONSULTING GROUP
Unit 104 Corinthian Executive Regency
Ortigas Road, Ortigas Center, Pasig City 1605
www.powermaxph.com / info@powermaxph.com