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Lady sells real property in the course of its business. During the last quarter of 2018, it had sold a parcel of land under the
Lady sells real property in the course of its business. During the last quarter of 2018, it had sold a parcel of land under the following terms (VAT inclusive):
Total contract price
P1,120,000
Down payment, 10/05/2018
112,000
1st installment (12/31/2018)
112,000
2nd installment (2/1/2019)
56,000
How much is the output vat in the last quarter of 2018?
Total contract price
P1,120,000
Down payment, 10/05/2018
112,000
1st installment (12/31/2018)
112,000
2nd installment (2/1/2019)
56,000
How much is the output vat in the last quarter of 2018?
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To compute for the output VAT we need to determine first the taxable base amount The taxable base a...
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Smith and Roberson Business Law
Authors: Richard A. Mann, Barry S. Roberts
15th Edition
1285141903, 1285141903, 9781285141909, 978-0538473637
