Tagasundo Corporation, a VAT taxpayer, owns various transportation vehicle and have thefollowing gross receipts for January 2022:Land vehicle Air vesselWater vesselDomestic of passengers500,000.00850,000.00700,000.00Domestic of cargoes300,000.00425,000.00 385,000.00330,000.00Export of passengersExport of cargoes180,000.00 185,000.00Total800,000.00 1,785,000.00 1,270,000.00Compute the total sales subject to VAT

Value added Taxes (VAT) In Philippines the tax rate of Value added taxes is 12% which are involved…

Tagasundo Corporation, a VAT taxpayer, owns various transportation vehicle and have the following gross receipts for January 2022: Land vehicle Air vessel Water vessel Domestic of passengers Domestic of cargoes Export of passengers Export of cargoes Total Compute the total sales subject to VAT 500,000.00 850,000.00 700,000.00 300,000.00 425,000.00 385,000.00 330,000.00 180,000.00 185,000.00 800,000.00 1,785,000.00 1,270,000.00

Tagasundo Corporation, a VAT taxpayer, owns various transportation vehicle and have the following gross receipts for January 2022: Land vehicle Air vessel Water vessel Domestic of passengers Domestic of cargoes Export of passengers Export of cargoes Total Compute the total sales subject to VAT 500,000.00 850,000.00 700,000.00 300,000.00 425,000.00 385,000.00 330,000.00 180,000.00 185,000.00 800,000.00 1,785,000.00 1,270,000.00

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter17: Corporations: Introduction And Operating Rules

Section: Chapter Questions

Problem 39P

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