Taxation, 2012 Bar — Question 33
← TaxationMULTIPLE CHOICE
A lessor or real property is exempt from value added tax in one of the transactions below. Which one is it? a) Lessor leases commercial stalls located in the Greenhills Commercial Center to VAT-registered sellers of cell phones; lessor's gross rental during the year amounted to P12 Million; b) Lessor leases residential apartment units to individual tenants for P10,000.00 per month 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 residential units at P15,000.00 per unit per month; his gross rental income during the year amounted to P3 Million; d) Lessor leases two (2) residential houses and lots at P50,000.00 per month per unit, but he registered as a VAT person.
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