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Taxation Assignment | College Homework Help

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Taxation problem to solve: The Smoky Corporation, a VAT-registered company, imported goods worth P 900,000 paying thereon the corresponding tax. The Smoky Corp. sold the goods at 25% mark-up to the Cloudy Corporation, a wholesaler, the latter paying a total of P _____ including the VAT. Cloudy Corp., in turn, disposed the goods at 30% mark-up to Thunder Co., a retailer, which paid a total …

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