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Question - Waga Co. a sardines canning company had the following purchases as inputs for its manufacturing operations during the month:
Tin cans, inclusive of VAT P 80,000
Tomatoes 150,000
Sardines 200,000
Labels, inclusive of VAT 20,000
Total P 450,000
What is the presumptive input VAT allowable to Waga?
What is the creditable input VAT of Waga for the month?
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