BOB, a VAT registered person, has the following acquisitions of capital goods and or equipment for...

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BOB, a VAT registered person, has the following acquisitions of capital goods and or equipment for the current year: Equipment 1 [VAT Inclusive] Equipment 2 [VAT Exclusive] Equipment 3 [VAT Inclusive]. P1,568,000 1,100,000 840,000 Equipment 1 is intended to be used by the business for six years, Equipment 2 for three years, and Equipment 3 for five years, Required: Compute the creditable Input VAT on the acquisition of Equipment or the current year BOB, a VAT registered person, has the following acquisitions of capital goods and or equipment for the current year: Equipment 1 [VAT Inclusive] Equipment 2 [VAT Exclusive] Equipment 3 [VAT Inclusive]. P1,568,000 1,100,000 840,000 Equipment 1 is intended to be used by the business for six years, Equipment 2 for three years, and Equipment 3 for five years, Required: Compute the creditable Input VAT on the acquisition of Equipment or the current year

Answer rating: 100% (QA)

To compute the creditable Input VAT on the acquisition of equipment for the current year we need to ... View the full answer