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Compute the percentage tax payable. Jon Snow, a VAT-registered tax payer, is engaged in different business activities, the following are his sales/receipts from his different
Compute the percentage tax payable.
Jon Snow, a VAT-registered tax payer, is engaged in different business activities, the following are his sales/receipts from his different businesses: Quasi-Bank: Interest income from 4 year loans P 400,000 5 year loans 250,000 6 year loans 370,000 Dividend income 100,000 Other income 220,000 Horse Race Track: Ticket receipts P 75,000 Sales of foods 20,000 Other receipts inside the race track 15,000 Insurance Company: Life policies Vehicle insurance policies Fire insurance policies P 200,000 150,000 330,000 Jon Snow, a VAT-registered tax payer, is engaged in different business activities, the following are his sales/receipts from his different businesses: Quasi-Bank: Interest income from 4 year loans P 400,000 5 year loans 250,000 6 year loans 370,000 Dividend income 100,000 Other income 220,000 Horse Race Track: Ticket receipts P 75,000 Sales of foods 20,000 Other receipts inside the race track 15,000 Insurance Company: Life policies Vehicle insurance policies Fire insurance policies P 200,000 150,000 330,000Step by Step Solution
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