Question
Lita (self-employed) is a non-vat registered taxpayer who operates a convenience store. The following were provided for 2021: Sales of processed food items P280,000 Sales
Lita (self-employed) is a non-vat registered taxpayer who operates a convenience store. The following were provided for 2021:
Sales of processed food items P280,000
Sales of non-food items 220,000
Purchases of processed food items 100,000
Purchases of non-food items 80,000
Salaries of helpers 48,000
How much is the business tax due?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
To calculate the business tax due for Litas convenience store we first need to determine the gross i...
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International Marketing And Export Management
Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr
8th Edition
1292016922, 978-1292016924
