A service provider had the following data during the month: Revenue, including VAT P268,000 Gross receipts, including VAT 180,000 Input VAT 12,000 Assuming the taxpayer is VAT registered, compute the VAT Payable.
1. A service provider had the following data during the month:
Revenue, including VAT P268,000
Gross receipts, including VAT 180,000
Input VAT 12,000
Assuming the taxpayer is VAT registered, compute the VAT Payable.
2. The following sales and purchases were taken from the books of accounts of a VAT taxpayer:
April May June
Sales P 625,000 P 400,000 P600,000
Purchases 400,000 420,000 200,000
What is the VAT Payable for the quarter?
3. A sale was invoiced by a VAT seller at P500,000. Compute for the Output VAT.
4. A VAT registered seller wishes to bill the sale of unprocessed meat for P50,000. At what amount should the sale be billed?
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