On Sat, 4 Aug 2001 at 05:52, likot wrote:
> whats with the 10% vat thing? just asking though are you paying taxes
> ? i mean for every cd you sold you pay the gov. tax? just wondering
All CDs sold are issued official receipts by The Leather Collection, Inc.
We charge VAT as a standard business procedure under Philippine laws. Just
like we pay VAT for everything we buy. It's the way the VAT system goes. I
actually didn't factor in VAT during my initial computation. It's our
accounting manager who told me to factor VAT in if we were to issue ORs
and declare everything, which is what we were supposed to do and do now.
Legitimate business. :)
--> Jijo
--
Federico Sevilla III :: [EMAIL PROTECTED]
Network Administrator :: The Leather Collection, Inc.
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