On July 4, 2020, you were engaged by BTS Corporation, a VAT-registered company, which is engaged in

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Question:

On July 4, 2020, you were engaged by BTS Corporation, a VAT-registered company, which is engaged in providing services to its clients, to file its 2^nd quarter 2550Q VAT Return.

The following information were gathered from April to June 2020:

From sales department

Net revenue from several companies P 1,800,000

Accounts receivable from customers, April 1, 2020 448,000

Accounts receivable from customers, June 30, 2020 672,000

From purchasing department

Copy of BIR Form 2307 (representing creditable VAT
withheld by the government) 10,000

Sales invoices representing the total amount of purchases
of goods other than those machineries purchased last
April 2020. 600,000

Sales invoices representing the total amount of machineries
purchased last April 2020. 2,400,000

Additional information:

Accounts receivable balances are all income related and are inclusive of VAT.

Net revenue and purchases are VAT exclusive.

Management report dated April 30, 2020, which contains the estimated useful life of 10 years of the machinery purchased during the month of April was also provided to you.

Required:

1. Compute item 19B (OUTPUT TAX DUE) of BIR Form No. 2550Q

2. Compute item 22 (total available input vat) of BIR Form No. 2550Q

3. Compute the deferred input tax

4. Compute item 25 (Tax still payable/(overpayment)) of BIR Form No. 2550Q