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How much is the total vat due and payable

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Question - Business Taxation (Philippines Updated) The following are the data of Urban Appliance Corporation, for the last quarter of 2020.

Sales up to December 15, total invoice value 336,000

Purchases up to December 15, net of input tax 215,000

Additional information: On December 16, 2020, Urban Appliance Corporation retired from its business and the inventory valued at 190,000 was taken and transferred to New Urban Appliance Corporation. There is deferred input tax from the third quarter of 3,500.

How much is the total VAT due and payable by Urban Appliance Corporation in its operations in the last quarter and its retirement from business?

Reference no: EM132951887

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