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How much is the value-added tax payable for the month

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Reference no: EM132517323

Question - The Star Co. is a common carrier with air and sea transportation units, transporting cargoes and passengers from point to point in the Philippines. It had the following data in a month, any tax not included:

Gross receipts:

For transporting cargoes P 2,000,000

For transporting passengers 3,000,000

Payments to VAT suppliers of materials and service providers 1,500,000

Payments to non-VAT suppliers of materials 650,000

Required -

1. How much is the output tax?

2. How much is the value-added tax payable for the month?

Reference no: EM132517323

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