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    Illustration of Cascading Effect of Vat

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    patricia gunio
    The document outlines the value-added tax (VAT) calculations for four taxpayers - MR. O, MR. P, MR. Q, and MR. R - as products are imported and sold between the parties. It details the selling price, output VAT, input VAT, and payable VAT for each transaction. MR. O imported a product and sold to MR. P, who then sold to MR. Q, who also purchased from MR. R and sold to an end customer.

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    Illustration of Cascading Effect of Vat

    Uploaded by

    patricia gunio
    1 views2 pages
    The document outlines the value-added tax (VAT) calculations for four taxpayers - MR. O, MR. P, MR. Q, and MR. R - as products are imported and sold between the parties. It details the selling price, output VAT, input VAT, and payable VAT for each transaction. MR. O imported a product and sold to MR. P, who then sold to MR. Q, who also purchased from MR. R and sold to an end customer.

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    The document outlines the value-added tax (VAT) calculations for four taxpayers - MR. O, MR. P, MR. Q, and MR. R - as products are imported and sold between the parties. It details the selling price, output VAT, input VAT, and payable VAT for each transaction. MR. O imported a product and sold to MR. P, who then sold to MR. Q, who also purchased from MR. R and sold to an end customer.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    1 views2 pages

    Illustration of Cascading Effect of Vat

    Uploaded by

    patricia gunio
    The document outlines the value-added tax (VAT) calculations for four taxpayers - MR. O, MR. P, MR. Q, and MR. R - as products are imported and sold between the parties. It details the selling price, output VAT, input VAT, and payable VAT for each transaction. MR. O imported a product and sold to MR. P, who then sold to MR. Q, who also purchased from MR. R and sold to an end customer.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    of 2

    Taxpayer MR.

    O
    Upon importation
    Landed cost of imported article 40,000
    Input Value added tax (P40,000 x 12%) 4,800

    Upon the sale to Mr. P


    Selling price 90,000
    Output tax (P90,000 x 12%) 10,800
    Less: Input tax (upon improtation) 4,800
    Value-added tax payable 6,000

    Taxpayer MR. P
    Upon the sale to Mr. Q
    Selling price 170,000
    Output tax (P170,000 x 12%) 20,400
    Less: input tax on purchase form Mr. O 10,800
    Value added tax payable 9,600

    Taxpayer MR. Q
    Upon the sale
    Selling price 400,000
    Output tax (P400,000 x 12%) 48,000
    Less: Input taxes-
    On purchase from Mr.P 20,400
    On purchase from Mr. R 6,000
    Total input taxes 26,400
    Value added tax payable 21,600

    Taxpayer MR. R
    Upon the sale to Mr. Q
    Value added tax - Output tax (P50,000 x 12%) 6,000

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