Bible Community of the Philippines, Inc. (BCPI)is registered with the Securities and Exchange Commission as a nonstock, not-for-profit corporation with the primary purpose of "Widest distribution of holy scriptures all over the Philippines and spiritual transformation of the Filipino people." The corporation has the following gross receipts and input VAT from its purchases: Government grant - P3,000,000; Contributions from the public - P1,000,000; Sales of gift shop items P600,000; Rental of commercial space - P2,000,000; Input VAT related to gift shop and rental activities - P126,000; Input VAT related to not-for-profit activities - P 436,000; What is the VAT payable None. The Corporation is a nonstock, not-for-profit corporation which is exempt from business tax. P186,000 P230,000 P306,000
Bible Community of the Philippines, Inc. (BCPI)is registered with the Securities and Exchange Commission as a nonstock, not-for-profit corporation with the primary purpose of "Widest distribution of holy scriptures all over the Philippines and spiritual transformation of the Filipino people." The corporation has the following gross receipts and input VAT from its purchases: Government grant - P3,000,000; Contributions from the public - P1,000,000; Sales of gift shop items P600,000; Rental of commercial space - P2,000,000; Input VAT related to gift shop and rental activities - P126,000; Input VAT related to not-for-profit activities - P 436,000; What is the VAT payable
None. The Corporation is a nonstock, not-for-profit corporation which is exempt from business tax.
P186,000
P230,000
P306,000
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