1 Duration between two dates â Calculates number of days. 2  Time and Date Duration â Calculate duration, with both date and time included.  Birthday Calculator â Find when you are 1 billion seconds old.
You are opting to tax land. For the purposes of VAT, the term âlandâ includes buildings. When you opt to tax, you can specify an area of land or a âbuildingâ. Commonly, you will specify a âbuildingâ because that is the prominent feature of the land.f you have recovered input tax on the basis of an intention to opt to tax and wish to retain the input tax recovered, you must make an option to tax at the very latest before any supplies of the land or buildings are made, and notify the option as detailed in paragraph 4.2.
When a business entity is VAT registered, it is subject to 12% sales tax on its gross sales or receipts. Such sales tax is referred to as VAT or Output Tax. On the other hand, if a business entity is NON-VAT, it is subject to 3% sales tax on its gross sales or receipts.. If youâre registered as NON-VAT, you are not required to put 12% VAT on your gross receipts or sales. You may present to your customer your BIR Certificate of Registration (COR) to show that your company is NON-VAT. 2. 2% withholding is required to be withheld on Income payments to prime contractors/sub-contractors.