Question 18 Mr. Bautista called his friend in Cebu and his mother in Hong Kong. The...

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Question 18 Mr. Bautista called his friend in Cebu and his mother in Hong Kong. The VAT-registered service provider charged, exclusive of tax, P800 and P1,200, respectively. How much is the total business tax (VAT & other percentage taxes) on the calls? O P200 O P240 P224 O P216 Question 19 O 7% gross receipts tax on the rental income, but exempt from VAT. O Liable to both the 12% VAT and 7% gross receipts tax. O Exempt from both the 12% VAT and 7% gross receipts tax. ABC Bank extended loans to debtors during the year, with real properties of the debtors being used as collateral to secure the loans. When the debtors failed to pay the unpaid principal and interests after several demand letters, the bank foreclosed the same and entered into contracts of lease with tenants. The bank is subject to the tax as follows: O 12% VAT on the rental income, but exempt from the 7% gross receipts tax. Question 20 O P54,000 O P14,800 2 pts For the 1st quarter of 2021, ABC Pawnshop received rentals of P180,000; interests of P500,000 from lending activities with maturities of more than 5 years; and interests of P800,000 from lending activities with maturities of 5 years or less. How much is the gross receipts tax for the Quarter? O P74,000 2 pts O P57,600 2 pts Question 18 Mr. Bautista called his friend in Cebu and his mother in Hong Kong. The VAT-registered service provider charged, exclusive of tax, P800 and P1,200, respectively. How much is the total business tax (VAT & other percentage taxes) on the calls? O P200 O P240 P224 O P216 Question 19 O 7% gross receipts tax on the rental income, but exempt from VAT. O Liable to both the 12% VAT and 7% gross receipts tax. O Exempt from both the 12% VAT and 7% gross receipts tax. ABC Bank extended loans to debtors during the year, with real properties of the debtors being used as collateral to secure the loans. When the debtors failed to pay the unpaid principal and interests after several demand letters, the bank foreclosed the same and entered into contracts of lease with tenants. The bank is subject to the tax as follows: O 12% VAT on the rental income, but exempt from the 7% gross receipts tax. Question 20 O P54,000 O P14,800 2 pts For the 1st quarter of 2021, ABC Pawnshop received rentals of P180,000; interests of P500,000 from lending activities with maturities of more than 5 years; and interests of P800,000 from lending activities with maturities of 5 years or less. How much is the gross receipts tax for the Quarter? O P74,000 2 pts O P57,600 2 pts

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