Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Philippines Business Tax San Gabriel Corp., a VAT-registered entity with TIN of 123-456-789, located in Batangas City, had the following data for the first quarter

Philippines Business Tax

San Gabriel Corp., a VAT-registered entity with TIN of 123-456-789, located in Batangas City, had the following data for the first quarter of 2023 (Note: all amounts are net of VAT):

January

February

March

Local sales

P500,000

P1,200,000

P700,000

Export sales

600,000

400,000

500,000

Purchases

700,000

600,000

400,000

Other expenses

100,000

150,000

170,000

Required: Prepare a quarterly VAT Return (BIR Form 2550Q) from the information given. (Please include the actual date of submission in the attachment).

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

4.7 Identify the specific types of adjustment disorders.

Answered: 1 week ago