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    Question: A VAT Subject Real Estate Dealer Sold A Residential Lot On January 15, 2014. The Following

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    naztig_017
    A real estate dealer sold a residential lot for 3,000,000 pesos on January 15, 2014, receiving an initial payment of 750,000 pesos with the remaining 2,250,000 pesos to be paid in installments starting February 15, 2014. The zonal value of the remaining lot was 3,500,000 pesos. Using a 12% VAT rate, the output tax due on January 15, 2014 for the initial payment was 420,000 pesos.

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    Question: A VAT Subject Real Estate Dealer Sold A Residential Lot On January 15, 2014. The Following

    Uploaded by

    naztig_017
    1K views1 page
    A real estate dealer sold a residential lot for 3,000,000 pesos on January 15, 2014, receiving an initial payment of 750,000 pesos with the remaining 2,250,000 pesos to be paid in installments starting February 15, 2014. The zonal value of the remaining lot was 3,500,000 pesos. Using a 12% VAT rate, the output tax due on January 15, 2014 for the initial payment was 420,000 pesos.

    Original Description:

    Tax Review Question

    Original Title

    T43

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    A real estate dealer sold a residential lot for 3,000,000 pesos on January 15, 2014, receiving an initial payment of 750,000 pesos with the remaining 2,250,000 pesos to be paid in installments starting February 15, 2014. The zonal value of the remaining lot was 3,500,000 pesos. Using a 12% VAT rate, the output tax due on January 15, 2014 for the initial payment was 420,000 pesos.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    1K views1 page

    Question: A VAT Subject Real Estate Dealer Sold A Residential Lot On January 15, 2014. The Following

    Uploaded by

    naztig_017
    A real estate dealer sold a residential lot for 3,000,000 pesos on January 15, 2014, receiving an initial payment of 750,000 pesos with the remaining 2,250,000 pesos to be paid in installments starting February 15, 2014. The zonal value of the remaining lot was 3,500,000 pesos. Using a 12% VAT rate, the output tax due on January 15, 2014 for the initial payment was 420,000 pesos.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    Question: A VAT subject real estate dealer sold a residential lot on January 15, 2014.

    The following
    information was made available on the terms of the sale:
    Gross selling price
    3,000,000
    Initial payments on January 15, 2014 750,000
    Balance to be paid in equal installment, 2,250,000
    installments starting 2/15/2014
    The zonal value of the residual lot was P3,500,000. How much was the output tax on January 15, 2014
    using 12% VAT rate?
    420,000
    360,000
    105,000
    None of the choices

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