How much is the VAT payable to the BIR? A VAT-registered trader has the following transactions:...

  

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How much is the VAT payable to the BIR? A VAT-registered trader has the following transactions: Sale of goods to private entities, net of VAT Purchases of goods sold to private entities, gross of 12% of VAT Sales to a GOCC, net of VAT Purchases of goods sold to GOCC, net of 12% VAT P2,500,000 896,000 1,000,000 700,000 Don Juan, a non-horse-owner, received gross winnings of P120,000 during the current month. Compute his tax on winnings. How much is the VAT payable to the BIR? A VAT-registered trader has the following transactions: Sale of goods to private entities, net of VAT Purchases of goods sold to private entities, gross of 12% of VAT Sales to a GOCC, net of VAT Purchases of goods sold to GOCC, net of 12% VAT P2,500,000 896,000 1,000,000 700,000 Don Juan, a non-horse-owner, received gross winnings of P120,000 during the current month. Compute his tax on winnings.

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