VAT example
The following data were provided by Halo Mango Delight, a VAT taxpayer, for October, November, and December 2021 (VAT excluded): Compute the Value added tax of the store for the 4th Quarter of 2021. (Show computation in solving the problem).
VAT ratio = 12%.
Gross Sales P 1,700,000.00
Purchases from VAT Suppliers 640,000.00
Purchased from Non-VAT Suppliers 50,000.00
Your answer:
VAT ratio = 12%.
Gross Sales P 1,700,000.00
Purchases from VAT Suppliers 640,000.00
Purchased from Non-VAT Suppliers 50,000.00
Your answer:
Tips for related online calculators
Our percentage calculator will help you quickly and easily solve a variety of common percentage-related problems.
Do you have a linear equation or system of equations and are looking for a solution? Or do you have a quadratic equation?
Do you have a linear equation or system of equations and are looking for a solution? Or do you have a quadratic equation?
You need to know the following knowledge to solve this word math problem:
algebraarithmeticbasic operations and conceptsUnits of physical quantitiesGrade of the word problem
Related math problems and questions:
- VAT
John paid 10 Euros in-store for the purchase. Calculate value-added tax (VAT), which is paid in the purchase, if the VAT rate is 20%. - Profit or loss
A store's owner records disclosed the following information: Sales P21,050, Purchases P24,150, Merchandise inventory P5100.00, Expenses P2200.00. Prepare a profit & loss statement. How is the store owner's profit or loss for the month of December? - Non-linear effects
Since 2017, the percentage rate of flat-rate expenses has been increased from 40% to 60% of the total income. The monthly limit (420 euros) has been cancelled and the annual limit of the sum of flat-rate expenses is increased from 5 040 euros to 20 000 eu - Store
The company has three industrial goods stores. The following data are available: Store; Sales September; Sales October; Price September CZK/pcs; Price October CZK/pcs A; 1500; 1800; 39; 40 B; 700; 721; 36; 35 C; 300; 279; 34; 35 Total; 2500; 2800; X; X De - VAT
In the country XYZ car, Daewoo Leganza costs 5722 Euros including VAT; 4863.7 Eur without VAT. a) Determine the rate of VAT. b) How much Euro VAT is paid for the purchase? c) How much percent of the total price of the goods is VAT? VAT = value-added tax. - Princess 2
A very overweight princess weighed 168 kg on 5 October. By 10 November, her weight had changed in the ratio 7:4. How much did she weigh on 10 November? Did she gain or lose weight? - VAT lottery
Father earns 809 euro a month, mother 480 euro per month. Calculate what amount they paid as value-added tax (VAT) to the government if the VAT rate is 20%. Assume that the family will spend their entire monthly income.
