Sun is a VAT-registered life insurance company and it has the following gross receipts during the period. Life insurance
Posted: Mon Apr 25, 2022 7:41 am
- Sun Is A Vat Registered Life Insurance Company And It Has The Following Gross Receipts During The Period Life Insurance 1 (33.75 KiB) Viewed 34 times
38,300
41,000
34,500
29,600
Sun is a VAT-registered life insurance company and it has the following gross receipts during the period. Life insurance 177,000 premiums Insurance commission 53,000 income Reinstatement 65,000 fees Reinsurance 100,000 premiums Reinsurance 41,000 fees Reinsurance 64,000 commission Sun only engages in the business of life insurance. Total input vat from purchases is P50,000 How much of the input VAT is closed to expenses? [Select