On March 31, 2020, a VAT-registered realty developer sold a condominium unit at a selling price of P3,705,000. The buyer paid P125,000 downpayment and the balance in 36 monthly installments. The property has a Zonal Value of P4,000,000 and Assessed Value of P3,000,000 at the date of sale. 

What is the Output VAT on the sale of the property for the year 2020?

Answer rating: 100% (QA)

To calculate the Output ValueAdded Tax VAT on the sale of the property for the ... View the full answer