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How much is the total exempt sales or receipts

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Reference no: EM133176473

Question - Mr. Porky is a business owning a piggery. It derives its revenues from sale of its produce. Following are its sales and receipts for the quarter. Exchange rate is $1:P50.

Sales/ Receipts

Domestic

Foreign

Sale of lechon in its restaurant branch

P120,000

-

Sale of freshly butchered pork

P210,000

$1,600

Sale of processed pork delicatessen

P180,000

P100,000

Sale of hog feeds of its sales outlet

P80,000

-

1. Assuming Mr. Porky is a non-VAT-registered business, how much is the total exempt sales/receipts?

2. Assuming Mr. Porky is a VAT-registered business, how much is the total exempt sales/receipts?

Reference no: EM133176473

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