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1.Mac Trading, a non-VAT business, sold the P200,000 products to Mark Enterprises. If Mac's purchases during the taxable period amount to P224,000, inclusive of VAT,
1.Mac Trading, a non-VAT business, sold the P200,000 products to Mark Enterprises. If Mac's purchases during the taxable period amount to P224,000, inclusive of VAT, and the cost of sales is P89,600, how much is the amount of business tax payable?
a.P 24,000b. P 14,400c. P 9,600d. P 6,000
2.A trading business is registered as non-VAT. If its sales for the year is P2,000,000, how much would be its business tax payable, if it has P50,000 input VAT on its purchases?
a.P 240,000b. P 190,000c. P 120,000d. P 60,000
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