A VAT registered taxpayer made the following acquisition of capital goods from VAT registered suppliers (net...
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A VAT registered taxpayer made the following acquisition of capital goods from VAT registered suppliers (net Purchase date Jan. 1*** '15 Mar. 2 Acquistion Cost 1,000,000.00 500,000.00 200,000.00 300,000.00 600,000.00 800,000.00 Dec. 25 3,000,000.00 *** The asset was sold in December, 2018. ¹20 Oct. 6 '30 Estimated Life in Years 10 2 6 2 4 6 1 Questions: 1. How much is the creditable input vat for the month of January? 2. How much is the creditable input vat for the month of February? 3. How much is the creditable input vat for the month of March? 4. How much is the creditable input vat for the month of April? 5. How much is the creditable input vat for the month of October? 6. How much is the creditable input vat for the month of November? 7. How much is the creditable input vat for the month of December? A VAT registered taxpayer made the following acquisition of capital goods from VAT registered suppliers (net Purchase date Jan. 1*** '15 Mar. 2 Acquistion Cost 1,000,000.00 500,000.00 200,000.00 300,000.00 600,000.00 800,000.00 Dec. 25 3,000,000.00 *** The asset was sold in December, 2018. ¹20 Oct. 6 '30 Estimated Life in Years 10 2 6 2 4 6 1 Questions: 1. How much is the creditable input vat for the month of January? 2. How much is the creditable input vat for the month of February? 3. How much is the creditable input vat for the month of March? 4. How much is the creditable input vat for the month of April? 5. How much is the creditable input vat for the month of October? 6. How much is the creditable input vat for the month of November? 7. How much is the creditable input vat for the month of December?
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The input VAT is usually calculated as a percentage of the acqu... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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