Grabie, is a transport network company operating in Metro Manila with a valid Certificate of Public Convenience(CPC). The fare collection scheme requires its partner-drivers to collect from its passengers, subsequently remitting a quarter of said collections to Grabie. Grabie received a total of P1,250,000 from its partner-drivers representing transport of passengers during the month, 60% of which came from partner-drivers with CPC. Forty percent of the drivers without CPC have annual receipts lower than the VAT threshold.    How much is the total percentage tax arising from all applicable taxpayers?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Grabie, is a transport network company operating in Metro Manila with a valid Certificate of Public Convenience(CPC). The fare collection scheme requires its partner-drivers to collect from its passengers, subsequently remitting a quarter of said collections to Grabie. Grabie received a total of P1,250,000 from its partner-drivers representing transport of passengers during the month, 60% of which came from partner-drivers with CPC. Forty percent of the drivers without CPC have annual receipts lower than the VAT threshold. 

 

How much is the total percentage tax arising from all applicable taxpayers?

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