Reference no: EM132839672
Question - How much is the total VAT on local sales and importation?
The following data taken from its books are presented to you by Fish Fresh, Canned and Dried, VAT-registered company.
Sale of locally produced canned sardines P1,000,000
Sale of newly hauled fresh sardines P1,500,000
Sale of canned sardines to a Subic Bay Metropolitan Authority accredited enterprise P500,000
Sale of locally produced dried fish P700,000
Importation of fresh fish from Alaska, USA P2,000,000
Importation of canned sardines from Portugal P3,000,000