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Exercises 4. AVAT-registered taxpayer has the following VAT exdusive data for the month of July 2018: Accounts receivable bnuary 1, 2018 P500,000 Sales on account
Exercises 4. AVAT-registered taxpayer has the following VAT exdusive data for the month of July 2018: Accounts receivable bnuary 1, 2018 P500,000 Sales on account for the month of January 1,000,000 Cash sales for the month of bnuary 300,000 Accounts receivable, hnuary 31, 2018 700,000 Cash purchases for the month of hnuary 2018 400,000 How much is the output tax for the month of January, 2018 using 12% rate assuming the taxpayer isa a. Trader b. Service provider Exercises 5. Babes Corp. imported an artide from Japan. The invoice value of the imported artide was Y1,000,000 (Y1 P0.35). The following were incurred in connection with the importation: Insurance Freight Postage Wharfage dues Arrastre charges Brokerage fees Facilitation fee The imported article was subject to P50,000 customs duties and to P30,000 excise tax. How much was the VAT on importation using 12% rate? P15,000 10,000 5,000 7,000 8.000 25,000 3,000 Exercises Exercises 4. AVAT-registered taxpayer has the following VAT exdusive data for the month of July 2018: Accounts receivable bnuary 1, 2018 P500,000 Sales on account for the month of January 1,000,000 Cash sales for the month of bnuary 300,000 Accounts receivable, hnuary 31, 2018 700,000 Cash purchases for the month of hnuary 2018 400,000 How much is the output tax for the month of January, 2018 using 12% rate assuming the taxpayer isa a. Trader b. Service provider Exercises 5. Babes Corp. imported an artide from Japan. The invoice value of the imported artide was Y1,000,000 (Y1 P0.35). The following were incurred in connection with the importation: Insurance Freight Postage Wharfage dues Arrastre charges Brokerage fees Facilitation fee The imported article was subject to P50,000 customs duties and to P30,000 excise tax. How much was the VAT on importation using 12% rate? P15,000 10,000 5,000 7,000 8.000 25,000 3,000 Exercises
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