AZ Inc. is a real estate dealer. Details of its sales during the year showed the...

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AZ Inc. is a real estate dealer. Details of its sales during the year showed the following: Date of sale June 2, 2020 5,000,000 Consideration in the deed of sale FMV in the assessment rolls 4,800,000 Zonal Value 5,200,000 Schedule of payments: 1,000,000 June 2. 2020 June 2, 2021 2,000,000 2,000,000 June 2, 2022 How much is the output tax to be recognized for the June 2, 2022 payment? On April 2021, a VAT-registered realty developer sold a condominium unit at a selling price of P4,000,000. The buyer agreed to pay in 40 monthly installments. The property had a zonal value of P4,200,000 and assessed value of P3,600,000 at the date of sale. What is the output VAT on every installment? A realtor sold a commercial land for P1,500,000 in November 2021. A 20% downpayment was required and the balance was due in 20 monthly installments of P60,000 starting December 2021. What is the output VAT for the quarter ending December 2021? AZ Inc. is a real estate dealer. Details of its sales during the year showed the following: Date of sale June 2, 2020 5,000,000 Consideration in the deed of sale FMV in the assessment rolls 4,800,000 Zonal Value 5,200,000 Schedule of payments: 1,000,000 June 2. 2020 June 2, 2021 2,000,000 2,000,000 June 2, 2022 How much is the output tax to be recognized for the June 2, 2022 payment? On April 2021, a VAT-registered realty developer sold a condominium unit at a selling price of P4,000,000. The buyer agreed to pay in 40 monthly installments. The property had a zonal value of P4,200,000 and assessed value of P3,600,000 at the date of sale. What is the output VAT on every installment? A realtor sold a commercial land for P1,500,000 in November 2021. A 20% downpayment was required and the balance was due in 20 monthly installments of P60,000 starting December 2021. What is the output VAT for the quarter ending December 2021?

Answer rating: 100% (QA)

To calculate the output tax in each scenario we need to consider the applicable VAT rates and the taxable base 1 Output Tax for June 2 2022 Payment Th... View the full answer