Receipt from transport of passengers 5,000,000
Receipts from transport of cargoes 2,000,000
Receivables from transport of passengers 500,000
Receivables from transport of cargoes 100,000
Payment for repairs of transport units 200,000
Salaries of personnel 300,000
Purchases of spare parts 60,000
Registration with LTO 40,000
Premiums on bus insurance 20,000

 

Compute for the VAT Payable?

Output tax.

Percentage Tax

Answer rating: 100% (QA)

To compute for the VAT Payable we need to first determine the taxable amount for each type of receip... View the full answer