The amount of sale to qualified PWDS INCLUSIVE of VAT is P1,120,000. Under the law, senior citizens and PWDS enjoy exemption from VAT and also a 20% on their purchase of certain goods or services. How much should the business report as "Sales" 99 to be able to avail of the special deduction from its gross income? a. 1,120,000 b. 1,000,000 c. 896,000 O00 000

The amount of sale to qualified PWDS INCLUSIVE of VAT is P1,120,000. Under the law, senior citizens and PWDS enjoy exemption from VAT and also a 20% on their purchase of certain goods or services. How much should the business report as "Sales" 99 to be able to avail of the special deduction from its gross income? a. 1,120,000 b. 1,000,000 c. 896,000 O00 000

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter3: Business Income And Expenses

Section: Chapter Questions

Problem 5MCQ

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The amount of sale to qualified PWDs INCLUSIVE of VAT is P1,120,000. Under the law, senior citizens and PWDs enjoy exemption from VAT and also a 20% on their purchase of certain goods or services. How much should the business report as “Sales” to be able to avail of the special deduction from its gross income? a. 1,120,000 b. 1,000,000 c. 896,000 d. 800,000
The amount of sale to qualified PWDs INCLUSIVE of VAT is P1,120,000. Under the law, senior citizens and PWDs enjoy exemption from VAT and also a 20% on their purchase of certain goods or services. How much is the amount of discount granted to the PWDs? a. 275,000 b. 250,000 c. 224,000 d. 200,000
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