ABC Insurance is engaged in business. It also serves as an agent of a non-resident marine foreign insurance company. It has the following data for the current month:

Total premium collected as an agent of a nonresident foreign marine insurance company is P5,000,350

Total premium collected from non-life insurance business in the Philippines is P700,000

Purchase of supplies for use in non-life business is P250,000

Assuming you are the tax accountant of the company, determine how much is the tax for total premiums collected as an agent of a foreign insurance company?

How much is the VAT payable?