Philippine Taxation (Train Law)

A VAT-registered real estate dealer sold the following during the month of January 2020:

One condominium unit (inclusive of parking space valued at P500,000) for P1,500,000

Two adjacent condominium units covered by separate titles sold to one buyer, each unit is valued at P1,750,000 (exclusive of two parking spaces valued at P500,000 each) for P3,500,000.

He also had the following acquisitions during the month:

Domestic purchase of supplies, net of vat, for P300,000

Domestic purchase of five units of office computers valued at P50,000 each, net of VAT (4 years estimated life) for P250,000

Importation of one vehicle for land transport used in business (5 years estimated life) for P1,400,000 and office rental, net of VAT for P100,000.

Determine the VAT payable