Wert Company, a VAT-registered taxpayer, purchased P600,000 worth of goods and sold the same for P1,200,000.
Wert Company, a VAT-registered taxpayer, purchased P600,000 worth of goods and sold the same for P1,200,000.
Chapter12: Tax Credits And Payments
Section: Chapter Questions
Problem 28P
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Wert Company, a VAT-registered taxpayer, purchased P600,000 worth of goods and sold the same for P1,200,000.
1.) Assuming that the business operation of Wert Company is limited to Philippine residents, what is the total business tax it will report on its sales?
2.) Assuming the purchases were import and the sales were exports, compute the Business Tax.
2.) Assuming the purchases were import and the sales were exports, compute the Total Consumption Tax.
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