i need the answer quickly 35. Which importation in 2011 is subject to VAT?a. Importation of fuels by a person engaged in international shipping worth P20Million;b. Importation of raw, unprocessed, refrigerated Kobe beef from Japan by a beefdealer for sale to hotels in Makati City with a fair market value of P10 Million;c. Importation of wines by a wine dealer with a fair market value of P2 million forsale to hotels in Makati City;d. Importation of books worth P5 Million and school supplies worth P1.2 million.36. A pawnshop shall now be treated, for business tax purposes:a. As a lending investor liable to the 12% VAT on its gross receipts from interestincome and from gross selling price from sale of unclaimed properties.b. Not as a lending investor, but liable to the 5% gross receipts tax imposed on anon-bank financial intermediary under Title VI (Other Percentage Taxes).c. As exempt from 12% VAT and 5% gross receipts tax.d. As liable to the 12%VAT and 5% gross receipts tax.37. Except for one transaction, the rest are exempt from value added tax. Which one is VATtaxable?a. Sales of chicken by a restaurant owner who did not register as a VAT person andwhose gross annual sales is P1.2 Million;b. Sales of copra by a copra dealer to a coconut oil manufacturer who did notregister as a VAT person and whose gross annual sales is P5 Million;c. Gross receipts of CPA during the year amounted to P1 Million; the CPA registeredas a VAT person in January 2011, before practicing his profession;d. Sales of a book store during the year.38. A lessor or real property is exempt from value added tax in one of the transactionsbelow. Which one is it?a) Lessor leases commercial stalls located in the Greenhills Commercial Center toVAT- registered sellers of cell phones; lessor's gross rental during the year amountedto P12 Million.b) Lessor leases residential apartment units to individual tenants for P15,000.00 permonth per unit; his gross rental income during the year amounted to P2 Million;c) Lessor leases commercial stalls at P10,000.00 per stall per month and residentialunits at P15,000.00 per unit per month; his gross rental income during the yearamounted to P3 Million;d) Lessor leases two (2) residential houses and lots at P50,000.00 per month perunit, but he registered as a VAT person.39. Claim for tax credit or refund of excess input tax is available only to:a) A VAT-registered person whose sales are made to embassies of foreigngovernments and United Nations agencies located in the Philippines without the BIRapproval of the application for zero-rating;b) Any person who has excess input tax arising from local purchases of taxablegoods and services;c) A VAT-registered person whose sales are made to clients in the Philippines;d) A VAT-registered person whose sales are made to customers outside thePhilippines and who issued VAT invoices or receipts with the words "ZERO RATEDSALES" imprinted on the sales invoices or receipts.40. Input tax is available to a VAT-registered buyer, provided that:a) The seller is a VAT-registered person;b) The seller issues a VAT invoice or official receipt, which separately indicates theVAT component;c) The goods or service is subject to or exempt from VAT, but the sale is covered bya VAT invoice or receipt issued by VAT-registered person;d) The name and TIN of the buyer is not stated or shown in the VAT invoice orreceipt Which statement shown above is NOT correct?41. KaPedringMatibag, a sole proprietor, buys and sells "kumot at kulambo" both of whichare subject to value-added tax. Since he is using the calendar year as his taxable year, histaxable quarters end on the last day of March, June, September, and December. Whenshould KaPedring file the VAT quarterly return for his gross sales or receipts for the periodof June 1 to September 30?(A) Within 25 days from September 30(B) Within 45 days from September 30(c) within 15 days from September 30(D) Within 30 days from September 30

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35. Which importation in 2011 is subject to VAT? a. Importation of fuels by a person engaged in international shipping worth P20 Million; b. Importation of raw, unprocessed, refrigerated Kobe beef from Japan by a beef c. Importation of wines by a wine dealer with a fair market value of P2 million for sale to hotels in Makati City; d. Importation of books worth P5 Million and school supplies worth P1.2 million.