Which of the following is not correct?    a. Non-stock, non-profit private organizations are not subject to VAT if their income from sales is used for non-profit purposes. b. A VAT registered taxpayer can pass on the VAT even to non-VAT registered buyers. c. Services subject to specific percentage tax shall not be subject to VAT regardless whether their annual gross sales or gross receipts exceed P3,000,000. d. None of the above.

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Q: 6 Landis Co. purchased P500,000 of 8%, 5-year bonds (DI@FVTOCI) from Ritter, Inc. on January 1, 202...

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