LIST OF TERMINOLOGIES

a) Output Tax f) Goods or Properties

b) Gross Receipts g) Lending Investor

c) Real Estate Lessor h) Constructive Receipt

d) Real Estate Dealer i) Gross SellingPrice

e) Input Tax j) Common Carriers

_______ 1. includes any person engaged in the business of leasing or subleasing real property.

_______ 2. includes all persons, other than banks, non-bank financial intermediaries; finance companies;

and other financial intermediaries not performing quasi banking functions who make a practice of lending money for themselves or others at interest.

_______ 3. refers to persons, corporations, firms or associations engaged in the business of carrying or transporting passengers or goods both in land, water or air, for compensation, offering their services to the public and shall include transportation contractors.

_______ 4. includes any person engaged in the business of buying, developing, selling exchanging real properties as principal or holding himself out as a full or part time dealer in real estate.

_______ 5. means the total amount of money or its equivalent representing the contract price compensation, service fee, rental & royalty, including the amount charged for materials supplied with the services and deposits and advance payments actually or constructively received during the taxable quarter for services performed or to be performed for another person, excluding value-added tax.

_______ 6. occurs when the money consideration or its equivalent is placed in the control of the person who rendered service without restriction by the payor.

_______ 7. means that the VAT due from or paid by a VAT registered person in the course of his trade or business on importation of goods or local purchase of goods or services including lease or use of the property from a VAT registered person.

_______ 8. means that VAT due on the sale or lease of taxable goods or properties or services by any person registered or required to register under section 236 or RA 8424.

_______ 9. total amount of money or its equivalent with the purchaser pays or is obligated to pay to the seller in consideration or the sale, barter or exchange of goods or properties, excluding the value added tax.

_______10. means all tangible and intangible objects which are capable of pecuniary estimation.