A VAT taxpayer had the following sales and purchases during the month: Sales, inclusive of VAT Php 336,000 Purchases, exclusive of VAT 250,000 Compute the gross income under each of the following independent cases: 7. The sale is made to regular customers. 8. The sale is made by a registrable person.

A VAT taxpayer had the following sales and purchases during the month: Sales, inclusive of VAT Php 336,000 Purchases, exclusive of VAT 250,000 Compute the gross income under each of the following independent cases: 7. The sale is made to regular customers. 8. The sale is made by a registrable person.

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter3: Business Income And Expenses

Section: Chapter Questions

Problem 5MCQ

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A VAT taxpayer had the following sales and purchases during the month:Sales, inclusive of VAT Php 336,000Purchases, exclusive of VAT 250,000Compute the gross income under each of the following independent cases:5. The sale is VAT-exempt.6. The sale is made to the government.
A VAT taxpayer had the following sales and purchases during the month:Sales, inclusive of VAT Php 336,000Purchases, exclusive of VAT 250,000Compute the gross income under each of the following independent case:The sale is made to regular customers.
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