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Bobs Corporation is a local export-oriented enterprise engage in the business of manufacturing of sardines. In 2017, it sold to Mr. Bo Huang of China under the term FOB Shipping Point. Mr. Huang wants a specialized packaging material for his sardines. He ordered the said packaging materials from another Philippine Company Norhan Packaging Inc. (NPI). It was agreed that NPI will deliver the packaging materials to Bobs Corporation so that the latter can use the same for the sardines to be delivered to Mr. Huang in China.
Problem 1: What is the tax treatment for vat purposes of the sale of Bobs Corporation to Mr. Huang?
A. Subject to 12%B. Subject to 0%C. ExemptD. None of the choices
Problem 2: Based on the preceding number, what is the tax treatment of the sale of NPI to Mr. Huang?
Problem 3: Suppose Bobs Corporation bought packaging materials from NPI, what is status of the sale?
A. Subject to 12%B. Subject to 0%C. Subject to 0% only if NPI's export sales exceed 70% of total annual production in the current year.D. Subject to 0% only if Bobs Corporation's export sales exceed 70% of total annual production in the current year.
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