Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Dimagiba Construction Company entered into a contract with the government to construct an edifice for a total contract price of P25,000,000. During the month, the
Dimagiba Construction Company entered into a contract with the government to construct an edifice for a total contract price of P25,000,000. During the month, the government paid P10,000,000 of which it withheld 5% final withholding tax. How much is the Output VAT by the company on the government contract?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started