Taxation, 2012 Bar — Question 27

MULTIPLE CHOICE

An importer of flowers from abroad in 2011: a) Is liable for VAT, if it registers as a VAT person; b) Is exempt from VAT, because the goods are treated as agricultural products; c) Is exempt from VAT, provided that his total importation of flowers does not exceed P1.5 Million; d) Is liable for VAT, despite the fact that it did not register as a VAT person and its total annual sales of flowers do not exceed P1.5 Million.

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