How To Compute Tax When Writing an Official Receipt

Hey Mompreneurs,

I found out that for some people, it’s hard to remember how to compute for VATable sales and Tax.

I suggest that you print this in a piece of paper and always ask your employees to check on it before writing on the official receipt or invoice.

For example the total amount is Php 6,000

Compute for VATABLE SALES: 

Php 6,000 / 1.12 = Php 5,357.14

Compute for Value Added Tax or VAT Amount: 

Php 5,357.14 x 0.12 = Php 642.86

To make sure the computation is correct, add Vatable sales and Value Added Tax and the answer should be the TOTAL AMOUNT.

Hope this helped!

About the author

Renz Mom to 2 beautiful girls, Peaches & Luzy. WAHM for almost 9 years and then I opened a small condo and office cleaning business. That's just the start. Follow me as I walk along my entrepreneurial journey.

I will be HAPPY if you share this!Share on Facebook
0Share on Google+
0Pin on Pinterest
0Tweet about this on Twitter
Share on LinkedIn

Speak Your Mind


CommentLuv badge

This site uses Akismet to reduce spam. Learn how your comment data is processed.