Easy Company is a non-VAT registered seller of televisions.The company sold and delivered 40 units of TV during the month at 30,000 each.Out of the 40 units sold, 15 units were still not paid by the customers.


Easy Company bought each TV from its VAT-registered supplier at 22,000 each in the samemonth.


During the year, Easy Company also engaged in selling dressed chicken which earned a grosales of P3,500,000 during the year which were sold to San Miguel Corporation, a VAT-registered
company.


Compute for:
a. Percentage tax
b. Output tax
c. Input tax
d. VAT payable

Answer rating: 100% (QA)

To compute the required values we need to consider the relevant VAT rates and formulas As of my knowledge cutoff in September 2021 the standard VAT ra... View the full answer