Reference no: EM132828595
Cardel Inc., a VAT taxpayer, operates a coliseum which caters to various athletic and artistic competition or events.
During the quarter, Cardel reported receipts from the following events:
Professional non-titled boxing bouts P800,000
Philippine championship boxing bouts 1,200,000
Professional basketball games 1,600,000
Amateur basketball games 2,000,000
Concert of various musical artists 1,600,000
1. How much is the total quarterly percentage taxes?
2. How much is the value added tax?
Note: Basis should be Philippine Tax code. Thank You!
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