a. Given Amount;
- Sales or Gross Receipts.
- Sales or Gross Receipts before VAT.
- Purchases from VAT person before VAT.
- Sales, net of VAT.
- Purchases from VAT person net of VAT.
- Sales / Purchases from VAT person exclusive of VAT.
FORMULA : GIVEN AMOUNT X 12 % = VAT
b. Given Amount
- Total Vat Sales Invoice pr VAT.
- Purchase invoice amount.
- Sales or Gross Receipts, gross of VAT.
- Sales inclusive of VAT.
- Purchases from VAT person inclusive VAT.
FORMULA: GIVEN AMOUNT X 12%/112% =VAT
source; Transfer and Business Taxation by Edwin Valencia and Gregorio Roxas