Compute the percentage tax

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Reference no: EM133164675

Question - Sisiw Company is a non-VAT registered company which sells dry goods.

The sales for the month are the following:

100,000 to VAT-registered customers, 70% of which has been collected in cash

70,000 to non-VAT registered customers, 50% of which has been collected in cash

The company also had the following purchases for the month:

80,000 from VAT-registered suppliers, 100% paid

30,000 from non-VAT registered suppliers, 50% paid

Required - Compute the

a. Percentage tax

b. Output tax

c. Input tax

d. VAT payable

Reference no: EM133164675

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