You have a list of business establishments below with their respective registration and annual gross sales. Identify the following businesses if they are subject to VAT or not and provide a short explanation to support your answer. Please indicate your answers in the boxes provided.

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Business Barbershop Restaurant Department Store Lodging House Rice Retailer VAT Registration Not VAT Registered VAT Registered VAT Registered Not VAT Registered VAT Registered Annual Gross Sales/Receipts P 800,000 P 3,100,000 P 2,000,000 P 1,500,000 P 3,500,000 VAT or not? Reason Business Barbershop Restaurant Department Store Lodging House Rice Retailer VAT Registration Not VAT Registered VAT Registered VAT Registered Not VAT Registered VAT Registered Annual Gross Sales/Receipts P 800,000 P 3,100,000 P 2,000,000 P 1,500,000 P 3,500,000 VAT or not? Reason

Answer rating: 100% (QA)

here is the determination of whether each business establishment is subject to VAT or notalong with a brief explanation VAT Registered Restaurant Rest... View the full answer