Can I read VAT on Services in the Philippines on EtoBox?

VAT on Services in the Philippines by itsmeglenniee is a document available to read on EtoBox.

What is VAT on Services in the Philippines about?

Here are the steps to compute the VAT payable of Efas Company for 2022: 1. Gross Sales = Cash Sales + Credit Sales = P5,600,000 + P4,800,000 = P10,400,000 2. Less: Sales Returns = P224,000 3. Net Sales = Gross Sales - Sales Returns = P10,400,000 - P224,000 = P10,176,000 4. Input VAT on Purchases = P3,360,000 x 12% = P402,720 5. Less: Input VAT on Purchase Returns = P112,000 x 12% = P13,440 6. Net Input VAT = Input VAT -

Author

itsmeglenniee

Language

EN