1. In 2022, Ms. Julie gross receipts from his practice of profession is P 1,600,000 while her wife has gross sales of P1,200,000 derived from her trading business. Assuming that they are not VAT-registered person, will they be subject to VAT? Why? If YES, compute their tax due; if NO, rationalize your answer.
1. In 2022, Ms. Julie gross receipts from his practice of profession is P 1,600,000 while her wife has gross sales of P1,200,000 derived from her trading business. Assuming that they are not VAT-registered person, will they be subject to VAT? Why? If YES, compute their tax due; if NO, rationalize your answer.
Chapter13: Tax Credits And Payment Procedures
Section: Chapter Questions
Problem 22CE
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Transcribed Image Text:1. In 2022, Ms. Julie gross receipts from his practice of profession is P 1,600,000 while her wife has gross
sales of P1,200,000 derived from her trading business. Assuming that they are not VAT-registered
person, will they be subject to VAT? Why? If YES, compute their tax due; if NO, rationalize your answer.
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