VAT Amount Calculation

a. Given Amount;

  1. Sales or Gross Receipts.
  2. Sales or Gross Receipts before VAT.
  3. Purchases from VAT person before VAT.
  4. Sales, net of VAT.
  5. Purchases from VAT person net of VAT.
  6. Sales / Purchases from VAT person exclusive of VAT.

FORMULA : GIVEN AMOUNT X 12 % = VAT

b. Given Amount

  1. Total Vat Sales Invoice pr VAT.
  2. Purchase invoice amount.
  3. Sales or Gross Receipts, gross of VAT.
  4. Sales inclusive of VAT.
  5. Purchases from VAT person inclusive VAT.

FORMULA: GIVEN AMOUNT X 12%/112% =VAT

 

source; Transfer and Business Taxation by Edwin Valencia and Gregorio Roxas

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About Jonathan Ruiz CPA

Newbie Mentor and one of the influential author in the Philippines setting. His also the founder of PAM Academy and Developer of PAM PSE TRACKER application.
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