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Larry operates a restobar that had P300,000 in gross sales for the quarter ended March 2020. The percentage tax due for this quarter is P9,000. If the quarter had ended in September, the percentage tax due would be P3,000 due to the lower 1% rate. Casa Ibarra Co. had a total order of P3,000 from several customers including a senior citizen. The total output tax is P267.86. The senior citizen received a 20% discount of P89.28 on their P500 order. The remaining amount due from the other customers is P2,857.

Author

Rachel Luberia

Language

EN