A VAT-registered business taxpayer had no inventories at the beginning and end of the quarter. During the third quarter of 2022, it had P75,000 worth of purchases which it sold for P145,800.

Should the taxpayer be a non-VAT taxpayer, how much is the minimum invoice to achieve the same level of profit, net of percentage tax?

Answer rating: 100% (QA)

If the business is a nonVAT taxpayer it would be subject to the percentage tax Th... View the full answer