Question: 3. ABC Merchandising had the following data on oprations for a month as a VAT- registered taxpayer: 4 Sales, total invoice price Purchases of

3. ABC Merchandising had the following data on oprations for a month as a VAT- registered taxpayer: 4 Sales, total invoice price Purchases of goods, VAT not included From VAT-registered persons From non-VAT-registered persons Purchases of services, VAT not included: From VAT-registered persons From non-VAT-registered persons From persons subject to percentage tax Salaries to employees Other operating expenses Inventory at cost At market VAT paid on beginning inventory Php592,480.00 Required: How much is the total input tax? BEEZEE HOUSE Inc in n 100,000.00 90,000.00 18,000.00 10,000.00 This is the first month of being liable to VAT. Data on inventories at the beginning of the period follow: 8,000.00 50,000.00 15,000.00 Php 40,000.00 30,000.00 500.00
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Since VAT rate is not mentioned it is assumed to be 12 Input rax means the tax paid o... View full answer
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