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How much is the presumptive input tax

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Reference no: EM132609727

Question - Coco Nat is engage in purchasing from copra producers and process them into canned cooking oil. In February 2019 he made a total purchases of P800,000, processed them into canned cooking oil and sold the same to the public. The taxable sales amounted to P2,090,000. Purchases of canning and labeling materials totaled P274,400.

Questions -

a. How much is the presumptive input tax?

b. How much is the VAT payable if there is any?

Reference no: EM132609727

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How much is the presumptive input tax : Coco Nat is engage in purchasing from copra producers and process them into canned cooking oil. How much is the presumptive input tax
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