Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ann has the following data for the taxable year 2018: Gross Sales - P2,850,000 Collections - P1,420,000 If she is a seller of goods, his

Ann has the following data for the taxable year 2018:

  • Gross Sales - P2,850,000
  • Collections - P1,420,000

If she is a seller of goods, his business tax for the year should be ________________________.

a. P85,500 OPT

b. P170,400 VAT

c. P42,600 OPT

d. P342,000 VAT

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essentials of Business Law

Authors: Anthony Liuzzo

9th edition

007802319X, 978-0078023194

More Books

Students also viewed these Law questions

Question

Discuss the impact of religion on individual behavior.

Answered: 1 week ago

Question

The quality of the proposed ideas

Answered: 1 week ago

Question

The number of new ideas that emerge

Answered: 1 week ago