Taxation, 2012 Bar — Question 36

MULTIPLE CHOICE

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 dealer 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 for sale to hotels in Makati City; d) Importation of books worth P5 Million and school supplies worth P1.2 million.

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