Nicanor registered as non-VAT taxpayer in 2019 with a capital of Php 100,000. His summary of gross sales are the following: 2019 - Php 1,000,000 2020 - Php 4,000,000 2021 - Php 2,000,000 How much is the total percentage tax due in 2021 assuming Nicanor updated his registration in 2020 and has not made any changes in 2021?
Nicanor registered as non-VAT taxpayer in 2019 with a capital of Php 100,000. His summary of gross sales are the following: 2019 - Php 1,000,000 2020 - Php 4,000,000 2021 - Php 2,000,000 How much is the total percentage tax due in 2021 assuming Nicanor updated his registration in 2020 and has not made any changes in 2021?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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57. Nicanor registered as non-VAT taxpayer in 2019 with a capital of Php 100,000.
His summary of gross sales are the following:
- 2019 - Php 1,000,000
- 2020 - Php 4,000,000
- 2021 - Php 2,000,000
How much is the total percentage tax due in 2021 assuming Nicanor updated his registration in 2020 and has not made any changes in 2021?
Answer:
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