Sisiw Company is a non-VAT registered company which sells dry goods.

The sales for the month are the following:

100,000 to VAT-registered customers, 70% of which has been collected in cash.

70,000 to non-VAT registered customers, 50% of which has been collected in cash.

The company also had the following purchases for the month:

80,000 from VAT-registered suppliers, 100% paid

30,000 from non-VAT registered suppliers, 50% paid

Compute for:

a. Percentage tax?
b. Output tax?
c. Input tax?
d. VAT payable?

Answer rating: 100% (QA)

Given information Sales to VATregistered customers P100000 Percentage collected in cash 70 Sales to ... View the full answer