TAX MARCH 5.docx - Take note of the amendments of the VAT under TRAIN because under Section 86(R.A 10963 there are list of the amendments of the VAT All

TAX MARCH 5.docx - Take note of the amendments of the VAT...

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Take note of the amendments of the VAT under TRAIN because under Section 86 (R.A 10963) there are list of the amendments of the VAT. All these items are now part of the 12% VAT. Any transactions involving will be now subject to the VAT. Section 86. Repealing Clause .— The following laws or provisions of laws are hereby repealed and the persons and/or transactions affected herein are made subject to the VAT provision of Title IV of the NIRC, as amended: (a) Section 3 of Presidential Decree (P.D.). 1972, s. 1985, as amended, Sections 4 and 5 of Executive Order No. (E.O.) 1057, s. 1985, and Section 4 of E.O. 1064, s. 1985, insofar as the VAT tax exemption and tax credit is concerned; (b) Section 10, insofar as VAT exemption is concerned, of Republic Act No. (R.A.) 6807 or An Act Converting the Mati Community College into a State College to be known as the Davao Oriental State College of Science and Technology, Providing for a Charter for this Purpose, Expanding its Curricular Offerings, Redirecting its Objectives, and Appropriating Funds Therefor; (c) Sections 18 and 19, insofar as VAT exemption is concerned, of R.A. 6847 or The Philippine Sports Commission Act; (d) Section 8(d), last paragraph, insofar as VAT exemption is concerned, of R.A. 7278 or An Act Amending Commonwealth Act No. 111, as Amended by P.D. 460, entitled An Act to Create a Public Corporation to be Known as the Boy Scouts of the Philippines, and to Define its Powers and Purposes, by Strengthening the Volunteer and Democratic Character of the Boy Scouts of the Philippines and for Other Purposes; (e) Section 1, insofar as VAT exemption is concerned, of R.A. 7291 or An Act Restoring the Tax and Duty Incentives Previously Enjoyed by the Veterans Federation of the Philippines under Republic Act Numbered Twenty-Six Hundred and Forty; (f) Section 21, insofar as VAT exemption is concerned, of R.A. 7306 or the Charter of the People’s Television Network, Inc.; (g) Section 14, insofar as VAT exemption is concerned, of R.A. 7354 or the Postal Service Act of 1992; (h) Section 9(c), insofar as VAT exemption is concerned, of R.A. 7355 or the Manlilikha ng Bayan Act; (i) Section 21, insofar as VAT exemption is concerned. of RA 7366 or the Law Creating the National Commission for Culture and the Arts; (j) Section 7(f), insofar as VAT exemption is concerned, of R.A. 7371 or An Act Converting the Aklan Agricultural College into Ak1an State College of Agriculture, and Appropriating Funds Therefor; (k) Section 12, second sentence, insofar as VAT exemption is concerned, of R.A. 7373 or An Act Establishing the Eastern Visayas Science High School; (l) Section 11(j), insofar as VAT exemption is concerned, of R.A. 7605 or the Charter of the Philippine State College of Aeronautics; (m) Section 126, insofar as VAT exemption is concerned, of R.A. 7653 or The New Central Bank Act; (n) Section 14, insofar as VAT exemption is concerned, of R.A. 7875 or the National Health Insurance Act of 1995; (o) Section 18, insofar as VAT exemption is concerned, and Section 18, last paragraph of R.A. 7884 or the National Dairy Development Act of 1995; (p) Section 8, insofar as VAT exemption is concerned, R.A.
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