Sources of OUTPUT VAT

1. Sale of goods
2. Sale of services
3. Sale of properties
4. Transaction deemed sale

1. Sale of Goods
In July, 2018, Mayon Corp. made the following sales:
Cash sales P 800,000
Sales on account 1,200,000
Installment sales 2,000,000
Total
sales a P 4,000,000

Other data pertaining to sales:

Sales return on sales on account P 25,000
Sales discount on cash sales 40,000
Total returns and discount b 65,000
 
Tax Base ( a-b ) P 3,935,000
Multiply by 12%
How much is the output VAT? P 472,200

2. Transaction deemed sale

Consignment of
goods
A Vat registered business has its own sales operations and also sells goods through consignees.
It also sells goods on consignment for a commission.
The following were the results of operations for the month ended March 31, 2019.
Sales of its own inventories P 600,000 x12%
Sales reported by the consignees 400,000 x12%
Sales - in behalf of the consignor 300,000 (sales is consignment only)
(income earned on
Commision income on goods sold for consignor 30,000 x12% consignment)

The billed prices of outstanding consignments still held by consignees as of March 31, 2019
are as follows:
January 2019 P 60,000 ( still outstanding as of March = more than 60 days) x 12%
February 2019 40,000 less than 60days (Feb to March)
March 2019 20,000 less than 60days (March only)

Computation:
Tax base Sales of its own inventories P 600,000
Sales reported by the
consignees 400,000
Commision income on goods sold for consignor 30,000
Consigned goods still held by consignees
( more than 60 days) 60,000
Total P 1,090,000
Multiply by 12%

Compute the Output VAT for the month of March, 2019 P 130,800
3. VAT on Sale of Real Properties

Type of sale of real properties:       Taxability

1. Sale of a dealer, developer or lessor of real properties Vatable
2. Sale of properties considered ordinary
asset Vatable
3. Sale of properties not in the course of
business     exempt

    Payment Terms       Payment of Output VAT  

Output VAT shall be reported during the

CASH SALE If total selling price is paid immediately by the buyer   month of sale
DEFERRED SALE If the buyer only paid:   Same effect with cash sales.
 1) portion of the selling price
and Output VAT shall be reported during the
month of sale

2) INITIAL PAYMENT exceeds 25% of the sellinG price

If the buyer only paid:
1) portion of the selling price
and
INSTALLMENT SALE
The seller or the real estate dealer
shall be subject to VAT on installment
2) INITIAL PAYMENT DO NOT exceed 25% of the selling payments;inclusive of interest and
price   penalties.

Problems
:
**Sale of real property - cash sale
Mr. B is a real property dealer, sold a commercial lot in July, 2018.
The following relates to the sale:
Appraisal value P 3,500,000
Zonal value 3,200,000
Assessed value 2,600,000 whichever is higher
Selling price 3,000,000
Computation:
Tax base P 3,200,000
Multiply by 12%
The output VAT on the sale is P 384,000

**Sale of real property on installment plan

A real property dealer sold a commercial lot on JUly 1, 2019 with the following
data:
Zonal value P 5,000,000
Assessed value 4,500,000 whichever is the highest
Selling price 4,000,000
Downpayment is 10% with the balance payable in 36 monthly installment of P100,000 starting August 1, 2019
Initial payment
Downpayment 400,000 Downpayment:
August 1 100,000 4,000,000x 10% = 400,000
Sept 1 100,000 Monthly installment payment:
Oct 1 100,000 4000000-400000=3600000/36mos =100000
Nov. 1 100,000
Dec. 1 100,000 Ratio of initial payment
total initial payment 900,000 900000/4000000 0.225 or 22.50%

Analysis: The ratio 22.5% does not exceed 25%. The sale qualifies as a sale on installment plan.
The output VAT on the sale maybe reported in installment.
Computation:
Value added tax shown in the deed of sale P 600,000 5M x 12%
Output VAT on July 1, 2019- date of sale P 60,000 400,000/4,000,000 x 600,000
Output VAT on August 1, 2019 (monthly output vat) P 15,000 100,000/4,000,000 x 600,000

amount of initialpayment for

July
amount of selling price x zonal value x 12% = 1st payment of Output VAT July

amount of initialpayment for

 Aug
Augus
amount of selling price x zonal value x 12% = 2ndpayment of Output VAT t

2. Sale of Services                
A VAT registered technician had the following revenue and collection          
during the month:                
Client One :     Revenue   Collection Balance  
For services rendered:                
Billing for materials P 250,000 P 250,000 P 0  
service
  fee     150,000   100,000   50,000  
Total     P 400,000 P 350,000 P 50000  
                   
Client Two :                
For a P600,000 contract-work not yet stated              
Advances given by client two     P 150,000      
Computation:                
Tax base   Cash received (collections) P 350,000      
    Advance payments       150,000      
Total         P 500,000      
Multiply by         12%      
Compute for the output VAT     P 60,000      

***Sale of goods and services to senior citizens

Taal Pharmacy, a VAT registered, made the following sale of medicines:

Sale of medicines for hypertension and diabetes

- to senior citizens before 20% discount P 300,000 exempted
-to regular customers 400,000 exempted
Sale of other medicines
- to senior citizens before 20% discount P 200,000 exempted
- to regular customers 600,000 tax base
b
multiply y 12%

How much is the output VAT? P 72,000 P600,000 x 12%

Input VAT
1. Regular Input VAT
2. Transitional Input VAT
3. Amortization of Deferred Input VAT ( refer to notes on sources of input vat)
4. Presumptive Input VAT

Regular Input VAT

The regular input VAT is the 12% VAT paid on
-domestic purchases of goods, services or properties
- importation

Timing of Credit of Regular Input VAT

Source of regular input VAT   Timing of credit
in the month of
Purchases of goods or properties   purchase      
Purchases of services   in the month paid
in the month VAT is
Importation of goods   paid      
Purchases of depreciable capital goods or
properties    
in the month of
---general treatment   purchase      
---when the monthly aggregate acquisition cost
exceeds P1,000,000   Amortized over useful life in months or 60 months, whichever is shorter

Arc Company had sales of P2,000,000 during the month. The company made the following purchases during the month:
Goods from non VAT suppliers P 280,000 not creditable (allowed)- supplier is non vat registered
Goods from VAT suppliers 224,000
Importation of car for personal use, VAT inclusive 1,120,000 not allowed -car is for personal use
Importation of various fruits for sale 300,000 vat exempt goods- no input vat
Importation of various merchandise for resale 896,000
not creditable- ordinary receipts, must be VAT invoice or VAT
Services from VAt suppliers with ordinary receipts 120,000 official receipt

How much is the creditable input VAT(allowable input VAT)?

Computations: Input VAT
Goods from Vat suppliers 224,000 x 12/112 = 24000
Importation of various merchandise for resale 896,000 x 12/112 = 96000
Total creditable input VAT =P 120000
Transitional Input VAT
Mr. A a non VAT taxpayer became liable to VAT after exceeding the threshold in October, 2018.
The following pertains to Mr. A beginning inventory for November, 2018:
Vat exempt goods P 40,000
Vatable goods-
purchased from VAT suppliers(VAT inclusive) 11,200
purchased from non VAT suppliers 60,000
Total inventory P 111,200

Computations:
Actual vat paid to vat suppliers=11,200x12/112 P 1200
Value of vatable goods:
--- from VAT suppliers (P11,200-P1,200VAT) P 10,000
----from non VAT suppliers 60,000
Value of inventory P 70,000
multiply by 2%
2% of beginning inventory ( HIGHER) P 1400
How much is the transitional input VAT? 1,400

Presumptive Input VAT

A manufacturer of sardines has the following purchases for its ingredients in
processing canned sardines:
Fresh fish sardines P 120,000
Tomatoes 60,000
Ordinary salt 10,000
Tin can from VAT supplier 25,000
Paper label from VAT supplier 15,000

Computations:
Presumptive input VAT shall be computed from the agricultural purchases as follows:
Tomatoes P 60,000
Ordinary salt 10,000
Total agricultural products P 70,000
Multiply by 2%
Presumptive Input VAT P 1400
Plus other input VAt from purchases from VAT suppliers:
Tin can from VAT supplier 25,000
Paper label from VAT supplier 15,000
Total purchases fromVAT suppliers P 40,000
Multiply by 12%
Input VAT P 4800

Presumptive input tax is P 1,400

Total input VAT is (P1,400+P4,800) P 6,200
VAT ON IMPORTATION

Mr. F imported an article subject to custom duty based on volume measurement. The invoice cost
and expenses of imporation, not including custom duty and excise tax, prior to removal of goods
from customs custody amounted to P1,000,000. Custom duty was P20,000 and excise tax was
P15,000.

The value added tax on importation is:

Computations:
Invoice cost and expenses of importation P 1,000,000.00
Customs duty 20,000.00
Excise tax 15,000.00
Landed cost P 1,035,000.00
Value added tax payable x 12% P 124,200.00
HOW TO COMPUTE FOR THE TOTAL ALLOWABLE(CREDITABLE) INPUT TAX:
Input tax carry-over, from previous period P xxx,xxx
Deferred input tax on capital goods exceeding P1M xxx,xxx
Transitional input tax xxx,xxx
Presumptive input tax xxx,xxx
Regular input Vat from:
Purchase of capital goods not exceeding P1M xxx,xxx
Purchase of capital goods exceeding P1M xxx,xxx
Domestic purchases of goods, other than capital goods xxx,xxx
Importation of goods, other than capital goods xxx,xxx
Domestic purchases of services xxx,xxx
Services rendered by non-residents xxx,xxx
Others xxx,xxx
Total available input tax P xxx,xxx
Less: Deductions from input tax
Input tax on capital goods, deferred for future periods xxx,xxx
Input tax on sales to gov’t closed to expense xxx,xxx
Input tax allocable to exempt sales xxx,xxx
Input VAT claimed as refunds/TCC xxx,xxx
Others xxx,xxx
Total allowable (creditable) input tax P xxx,xxx

Illustration
A VAT taxpayer had the following data during the months:
Amount
Sales to regular customers P 4,000,000
Sales to the government 1,000,000
Export sales 3,000,000
Exempt sales 2,000,000
Total sales P 10,000,000
12%
Sources of Input Vat: Input VAT
Input VAT carry-over, from prior period P 80,000
Deferred input tax (already amortized or 21/36 monts) 75,000

Current month transactions: Amount

Purchase of goods or services P 7,000,000 840,000

Importation of equipment (6 year life) 1,200,000 144,000
Purchase of non-depreciable goods 80,000 9,600

Directly traceable input VAT:

Input VAT traceable to exempt sales 196,800
Amount applied for VAT refunds/TCC on export sales (4) 150,000
Input VAT traceable to sales to the government 90,000

The following input VAT can only be traced to entire operations:

Amortization of deferred input VAT on capital goods 7,400
Input VAT on supplies 28,100
Total non-traceable input VAT P 35,500
Computation for the creditable Input VAT

Input VAT
Input VAT carry-over, from prior period P 80,000
Deferred input VAT 75,000
Input VAT on purchaseof goods or services 840,000
Input VAT on importation of equipment 144,000
Total available input tax P 1,139,000
Less: Deductions from input tax
Deferred input VAT for succeeding period (1) P 211,600
Input VAT on exempt sales (2) 203,900
Input VAT on export sales applied for refund
or tax credit (4) 150,000
Excess input VAT on sales to government (3) 23,350 588,850
Total allowable (creditable) input VAT P 550,150

Notes to allowable input VAT computation:

1. Amortization schedule on input tax on capital goods with monthly aggregate acquisition costs
exceeding P1M
 Beginning Allowable Ending
Balance this month Balance
From previous period P 75,000 P 5,000 P 70,000
This period (60 months max.) 144,000 2,400   141,000
Total P 219,000 P 7,400 P 211,600

Note:
1. The deferred input VAT from prior period shall be amortized over the remaining
(i.e 36-21) unamortized months. Hence, P75,000 ÷ 15 = P5,000.
2. The P144,000 input VAT on the imported equipment must be amortized over 60
months. Hence, P144,000 ÷ 60 = P2,400.

2 Input tax on exempt sales

Total input tax directly attributable to exempt sales P 196,800

Add: Ratable portion of input tax not directly attributable
(P2,000,000/10,000,000 x P
35,500) 7,100
Total input tax attributable to exempt sales P 203,900
3. Excess input VAT on sales to the government

Input tax directly attributable to government sales P 90,000

Add: Ratable portion of input tax not directly attributable
(P1,000,000/10,000,000 x P
35,500) 3,550
Total input tax attributable tp sales to the government P 93,350
Less: Standard input VAT (P1M government sales x 7%) 70,000
Input tax on sales to government closed to expense P 23,350

Note: This excess amount can be a negative or positive. The amount is simply included in the
computation whether positive or negative.

Group C 10
Dela Cruz, Arcelli C.
Dungao, Carl Angelo D.
Matic, Alexandra Aeren M.
Tabora, Jimuel SG.
BSA 2-1

Problems:
 Instruction: Answer the given questions in each problem. Present your solutions.

A. XYZ Co. is a VAT trader. It had the following data in a month. VAT not included:

Cash sales P 2,000,000

On account sales 4,000,000

Consignment sales (at suggested retail price)

0-60 days (on which the consignee remitted an amount of P300,000) 1,500,000

61 – 100 ys old 800,000

Sales returns and allowances:

On cash sales 150,000

On account sales 300,000

1. How much is the output VAT on the sales for the month? P798,000

Cash sales P 2,000,000

On account sales 4,000,000
Consignment sales (remitted an amount of P300,000) 300,000
61-100ys old 800,000
TOTAL SALES P 7,100,000
Sales returns and allowances:
On cash sales 150,000
On account sales 300,000 (450,000)
TAX BASE P 6,650,000
Multiply by 12%
Output VAT P 798,000
B. ABC Co. is a VAT trader. It had the following data for the month of June. VAT not included:
Cash sales P 200,000

Sales on account 100,000

Installment sales 100,000

Consigned goods (at suggested retail price)(not yet sold as of the end of the month)

Date consigned Amount

April 15 P 100,000

May 15 120,000

June 15 140,000

2. How much of the consigned goods is subject to VAT? P100,000

3. How much is the output tax on the sales for the month? P60,000

Cash sales P 200,000

Sales on account 100,000
Installment sales 100,000
Consigned goods ( April 15 ) 100,000
Tax base P 500,000
Multiply by 12%
Output tax P 60,000

C. The taxpayer is a real estate dealer. The following are the data pertaining to the company sales.
Consideration on the sale, per deed of sale P 4,800,000

Zonal Value 4,500,000

 Fair market value in the assessment rolls 5,200,000

Payments as follows:

March 5, 2018 (date of sale) 1,200,000

March 5, 2019 1,800,000

March 5, 2020 1,800,000

4. How much is the value added tax shown in the deed of sale? P624,000

Fair market value in the assessment rolls P 5,200,000

Multiply by 12%

VAT shown in deed of sale P 624,000

5. How much is the output value-added tax on March 5, 2018 collection? P156,000

Payment, March 5, 2018 P 1,200,000

Divided by: Consideration on the sales, per deed of sale 4,800,000

Ratio of payment 0.25

Multiply by: VAT shown in deed of sale 624,000

Output VAT, March 5, 2018 P 156,000

6. How much is the output value-added tax on March 5, 2019 collection? P234,000

Payment, March 5, 2019 P 1,800,000

Divided by: Consideration on the sales, per deed of sale 4,800,000

 Ratio of payment 0.375

Multiply by: VAT shown in deed of sale 624,000

Output VAT, March 5, 2019 P 234,000

7. How much is the output value-added tax on March 5, 2020 collection? P234,000

Payment, March 5, 2020 P 1,800,000

Divided by: Consideration on the sales, per deed of sale 4,800,000

Ratio of payment 0.375

Multiply by: VAT shown in deed of sale 624,000

Output VAT, March 5, 2020 P 234,000

D. XYZ. Co. is a VAT trader. It had the following data in a month, VAT not included:
Sales P3,500,000

Sales Returns and Allowances 450,000

Costs and expenses-

Purchases of goods from VAT suppliers 750,000

Purchases of goods from non-VAT suppliers 150,000

Purchases of services from VAT providers 80,000

Purchases of services from non-VAT providers 65,000

Salaries of employees 320,000

8. How much is the output tax? P366,000

 Sales P 3,500,000

Sales Returns and Allowances (450,000)

Tax base 3,050,000

Multiply by 12%

Output tax P 366,000

9. How much is the input tax? P99,600

Purchases of goods from VAT suppliers P 750,000

Purchases of services from VAT providers 80,000

Tax base 830,000

Multiply by 12%

Input tax P 99,600

10. How much is the value-added tax payable? P266,400

Output Tax P 366,000

Less: Input Tax 99,600

VAT payable P 266,400

Problem:
The following were the transactions of a VAT taxpayer, VAT not included for each of the following months indicated of a calendar quarter:
                                  1st month                 2nd month                     3rd month Total
Sales                   P1,800,000                P1,600,000                  P2,000,000
5,400,000.00
Purchases            2,000,000                   1,200,000                     2,500,000
5,700,000.00

How much is the Vat payable/Deferred Input tax for the 1st month? 

How much is the Vat payable for the  2nd month?

How much is the Vat payable at the end of the quarter? 

  1st QUARTER
1st month 2nd month 3rd month
(total)
 192,000.0
OT 216,000.00 0 240,000.00 648,000.00
(144,000.0
IT 240,000.00 0) (300,000.00) (684,000.00)
48,000. (60,000.0 (36,000.0
Subtotal   00 0) 0)
Deferred input tax-  
(24,000.0
previous period   0)  
 
VAT paid     (24,000.00)
Vat Payable/Deferred Input 24,000. (60,000.0
tax (24,000.00) 00 0) (60,000.00)
         

th th 6th month/end of
4 month 5 month
2nd quarter
Sales P400,000 P500,000 1,100,000
Purchases 200,000 300,000 500,000

2nd QUARTER
4th month 5th month 6th month
  (Total)

OT 48,000.00 60,000.00 132,000.00 240,000.00

IT (24,000.00) (36,000.00) (60,000.00) (120,000.00)

Subtotal 24,000.00 24,000.00 72,000.00 120,000.00

Deferred input tax-  
previous period (60,000.00) (36,000.00) (60,000.00)
VAT paid        
Vat Payable/Deferred Input
tax (36,000.00) (12,000.00) 72,000.00 60,000.00
         

  1st QUARTER 2nd QUARTER Total of two quarters

Total output tax per quarter

648,000.00 240,000.00 888,000.00
Total input tax per quarter (684,000.00) (120,000.00) (804,000.00)
Subtotal (36,000.00) 120,000.00 84,000.00
Deferred input tax-
previous period - (60,000.00)  
VAT paid (24,000.00)   (24,000.00)
Vat Payable/Deferred Input
tax (60,000.00) 60,000.00 60,000.00
       

Note:

After computing the total output tax and input tax for the two quarters, the difference resulted to a
VAT payable of P84,000, deduct the VAT paid of P 24,000 and the balance due or still payable is
P60,000. This tally with the amount computed on the 2nd quarter.

Illustrative Problems:

1. Mr. Ace, a VAT registered person, is a trader. He purchases merchandise from a VAT supplier and sells them. The following data pertains to his sales and purchases for the
months of January, February and March, 2020 ( Value added tax not included)
2.

January February March TOTAL

Sales P 400,000 P 300,000 P 500,000 P 1,200,000

Purchases 210,000 130,000 260,000 600,000

Monthly declarations for January and February and quarterly return ending March should have shown the following:

January February March

On balances at the end of
(per month) (per month) (per quarter)

Output taxes (12% of sales) P 48,000 P 36,000 P 144,000*

Less: Input taxes(12%of purchases) (25,200) (15,600) (72,000)**

Vat paid, January (22,800)

Vat paid, February (20,400)

Value added tax payable P 22,800 P 20,400 P 28,800

*total sales for the quarter multiply by 12%

**total purchases for the quarter multiply by12%**

2. Mr. Bill, a VAT registered person, is a trader. He purchases merchandise from a VAT supplier and sells them. The following data pertains to his sales and purchases for the months
of April, May and June, 2020 ( Value added tax not included)

April May June TOTAL

Sales P 300,000 P 400,000 P 600,000 P 1,300,000

Purchases 410,000 330,000 380,000 1,120,000

Monthly declarations for January and February and quarterly return ending March should have shown the following:

April May June

On balances at the end of
(per month) (per month) (per quarter)

Output taxes (12% of sales) P 36,000 P 48,000 P 156,000*

Less: Input taxes(12%of purchases) (49,200) (39,600) (134,400)**

Excess input tax (April)carry over ( 13,200)

Vat paid, April 0

Vat paid, May 0

Value added tax payable P( 13,200) P ( 4,800) P 21,600

*total sales for the quarter multiply by 12%

**total purchases for the quarter multiply by12%**

Note:

Excess of input tax over the output tax for the month of April was carried over to the next month.

There is no carryover of excess input taxes from the second month to the third month.
1. A Consultancy service business had the following data during the month:

On contracts for professional services:

Advance collection of fee                                        P500,000
Collections for services rendered                              800,000
Receivables                                                              1,300,000
Payments to VAT providers for services                700,000
Payments to nonVAT providers for services        300,000
Payments to VAT suppliers for office supplies    200,000 
How much is the output tax?
Advance collection of fee P500,000
Collections for services rendered 800,000
Gross Receipts P1,300,000
Multiply by VAT Rate 12%
Output VAT P156,000
How much is the value added tax payable?
Output VAT P156,000
Less: Input VAT
Payments to VAT providers for services (700,000 x 12%) (84,000)
Payments to VAT suppliers for office supplies (200,000 x 12%) (24,000)
VAT Payable P48,000

2. The Star Co. is a common carrier with air and sea transportation units, transporting cargoes and passengers from point to point in the Philippines. It had the following
data in a month, any tax not included:

Gross receipts:
 
For transporting cargoes    
P 2,000,000
For transporting passengers                                   
   3,000,000
Payments to VAT suppliers of materials and service
   1,500,000
providers
      650,000
Payments to non-VAT suppliers of materials

How much is the output tax?

For transporting cargoes P2,000,000
 For transporting passengers 3,000,000
Gross Receipts P5,000,000
Multiply by VAT Rate 12%
Output VAT P600,000
How much is the value-added tax payable for the month?
Output VAT P600,000
Less: Input VAT
Payments to VAT suppliers of materials and (180,000)
service providers (1,500,000 x 12%)
VAT Payable P420,000

3. Mr. Dy, a building contractor showed to you the following data:

   Contract price                                                                             P5,000,000
    Cash received (VAT included)                                                    2,240,000
    Receivables                                                                                3,000,000
Advances on other contracts still unearned (VAT not included)                   1,000,000
Payments: (VAT not included)
                For materials                                                                        P 500,000
                For supplies                                                                              100,000
                For operating expenses                                                          200,000
                For services of subcontractors (VAT included)                     1,680,000
The Output VAT is
 Cash received (2,240,000 / 1.12) 2,000,000
Advances on other contracts still unearned 1,000,000
Gross Receipts P3,000,000
Multiply by VAT Rate 12%
Output VAT P360,000

The VAT payable is

Output VAT P360,000
Less: Input VAT
For materials (500,000 x 12%) (60,000)
For supplies (100,000 x 12%) (12,000)
For services of subcontractors (180,000)
(1,680,000 x 12/112)
VAT Payable P108,000

4. B Co. is a common carrier with air and sea transportation units transporting cargoes to points abroad. It had the following data in a month, any tax not included:

Gross receipts:  
For transporting cargoes                                                          P4,000,000
For transporting passengers                           4,000,000
Payments to VAT suppliers of materials  
      and service providers                                    2,000,000
Payments to non-VAT suppliers of materials 1,500,000

VAT tax consequence of the operations? (P240,000)

Input VAT:
Payments to VAT suppliers of materials and service providers
2,000,000 x 12% = P240,000

5. CC Hotel hosted the Rotary Club Convention in Palawan.  The total cost of services rendered to the 100 delegates amounted to P1,225,000 itemized as follows:
Hotel accommodation (P3,500 x 100)                                                           P350,000
Food and beverage consumptions                                                                      750,000
Handling charges for cable and internet                                                              80,000
Long distance and overseas calls                                                                           28,000
 Local taxes                                                                                                                17,000
How much is the output VAT on the above transactions?
Hotel accommodation (P3,500 x 100) P350,000
Food and beverage consumptions 750,000
Handling charges for cable and internet 80,000
Gross Receipts P1,180,000
Multiply by VAT Rate 12%
Output VAT P141,600

6.  D Company, an importer of merchandise for local sales had the following data on importation:
Invoice cost P 2,000,000
Freight           20,000
Insurance           30,000
Customs duty         180,000
Customs Brokerage Fee           40,000
Processing Fee            20,000
Excise Tax and other legitimate expenses of importation prior to
           90,000   
removal from customs custody
The customs duty was based on a dutiable value of    1,800,000

How much was the tax base of the value-added tax?

Dutiable Value P1,800,000
Add: Excise Tax and other legitimate expenses of importation 90,000
prior to removal from customs custody
Customs duty 180,000
Customs Brokerage Fee 40,000
Processing Fee 20,000
Tax Base P2,130,000
How much was the value-added tax on importation?
Tax Base P2,130,000
Multiply by VAT Rate 12%
VAT on Importation P255,600