1. A is a non-VAT registered tax payer with a grocery store. The following data are available for 2018: Sales of non food items is P 300,000 Sales of processed food items is P 400,000 Purchases from VAT registered person is P 250,000 Salaries of employees is P 150,000 What is the percentage tax due (net of applicable taxes)?

1. A is a non-VAT registered tax payer with a grocery store. The following data are available for 2018: Sales of non food items is P 300,000 Sales of processed food items is P 400,000 Purchases from VAT registered person is P 250,000 Salaries of employees is P 150,000 What is the percentage tax due (net of applicable taxes)?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter2: The Domestic And International Financial Marketplace

Section2.A: Taxes

Problem 3P

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