SAN JOSE has the following data (VAT exclusive): Taxable sales is P 1,200,000 Exempted sales is...

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SAN JOSE has the following data (VAT exclusive): Taxable sales is P 1,200,000 Exempted sales is P 400,000 Zero rated sales is P 200,000 Input tax (cannot be directly determined / attributable to any of the above sales) is P 80,000. What is the VAT payable if the company choose to claimed the input tax from zero rated sales as tax refund? SAN JOSE has the following data (VAT exclusive): Taxable sales is P 1,200,000 Exempted sales is P 400,000 Zero rated sales is P 200,000 Input tax (cannot be directly determined / attributable to any of the above sales) is P 80,000. What is the VAT payable if the company choose to claimed the input tax from zero rated sales as tax refund?

Answer rating: 100% (QA)

Taxable sales Taxable sales Taxable sales Exempted sales Taxable sales P 1200000 P 400000 Taxable sa... View the full answer