Tag Archives: tax base

TRADE, BUSINESS, PRACTICE OF PROFESSION AND OTHER INCOME (AITR)

Computation of tax base for trade, business, profession and other income combined.   Gross income   Pxxx Less itemized deductions or 40% optional standard     deduction (OSD) based on GS or GR   xxx Net income   xxx Les … Continue reading

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Tax base of VAT on sale of services and lease of properties

Tax base of VAT on sale of services and lease of properties Cash received (actually and constructively) xxx Advance payments for future projects xxx Materials charged with the services xxx Tax base (gross receipts, excluding VAT) xxx Add VAT xxx … Continue reading

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Tax base of VAT on sale of goods or properties

Sale of goods Gross sales   xxx (1) Less:     Sales discounts xxx (2)   Sales returns and allowances xxx (3) xxx Net sales   xxx Add Excise tax, if any   xxx (4) Tax base   xxx   … Continue reading

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