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How much is the gross receipts collected

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Reference no: EM132919744

Problem 1: The general rate of VAT in The Philippines is 12%. If VAT payable of a VAT-registered company in the Philippines for a certain period amounts to ?5,410,392.86 when gross purchases during the same period amounted to ?51,498,000, how much is the gross receipts collected/collectible from its customers?

Reference no: EM132919744

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