Sale of goods to private entities, net of VAT 3,000,000

Sale to government owned corporations (GOCC), net of VAT 1,000,000

Total 4,000,000
VAT rate 12%
OUTPUT VAT 480,000
Subject to vat
Parking space
800,000 * 12% 96,000
Landed cost 15,000,000
Add:
Customs duties 3,000,000
Excise tax 2,000,000
Total 20,000,000
Tax rate 12%
VAT PAYABLE 2,400,000
Goods for sale, inclusive of vat 26,400
Suuplies, exclusive of vat 2,400
Packagin materials, total invoice amount 6,000
Home appliances for residence, gross of vat 1,920
Office machines 5,000
CREDITABLE INPUT TAX 41,720
Oct. 1, 2021
Various equipment
(2,160,000 * .12)/36 7,200

Mar. 30, 2022

Delivery equipment
(3,500,000 * 0.12)/60 7,000
CREDITABLE INPUT TAX 14,200