Professional Documents
Culture Documents
Chapter 1 - TBT
Chapter 1 - TBT
c. Both A and B
d. Neither A nor B
4. Mr. Cedric, an employee sold his residential lot to Mrs.
Corneto a real property dealer . Which is subject to
consumption tax with respect to this transaction?
a. Mr. Cedric
b. Mrs. Corneto
c. A and B
d. Neither A nor B
5. Mr. Bangus made a casual sale involving a car to Mrs.
Tulya, a resident buyer. Mr. Bangus is not a car dealer .
Which is subject to consumption tax?
a. Mr Bangus
b. Mrs. Tulya
c. Both Mr Bangus and Mrs Tulya.
d. Neither Mr. Bangus nor Mrs.Tulya
6. Mr. Cavite produces an excisable article for the sale in
the Philippine market. Which is incorrect with respect to
Mr. Cavites business taxation?
a. Mr. Cavite subject to either VAT or percentage tax
b. Mr . Cavite pays excise tax in addition to VAT or
percentage tax
b. P 3,000
c. P 6,180
d. P 12,000
13. A business taxpayer purchased P120,000 from non
residents and sold goods worth P140 000 for 180,000
What is the concept of value added for VAT purposes?
a. 200,000
b. 140,000
c. 80 000
d. 60 000
14. In the immediately preceding problem, what is the
basis of percentage tax?
a. 200 000
b. 140 000
c. 120 000
d. 180 000
15. Assuming the same data in the above problem , what
is the basis of the VAT om importation?
a. 200 000
b. 140 000
c. 120 000
d. 80 000
16. Mr. Coroneti imported P 300 000 equipment for
business use and a P 1 200 000 car for personal use.
What is the amount subject to the VAT on importation?
a .0
b .300 000
c .1 200 000
d. 1 500 000
MULTIPLE CHOICE PART 2
BASIC CASE 1
1. A business taxpayer had the following purchase and
receipts:
Import of goods or services
P 190 000
P150 000
P 50 000
d. 340 000
2. In the immediately preceding problem , determine the
amount subject to consumption tax if the tax payer is not
engaged in business/
a. 490 000
b. 390 000
c. 200 000
d. 190 000
Basic Case 2
3. A VAT registered taxpayer recorded the following
sales and purchases during the month
Sales
P 300 000
a. 48 000
b. 36 000
c. 24 000
d. 12 000
5. What is the VAT payable ?
a. 48 000
b. 36 000
c. 24 000
d. 12 000
6. Assuming the taxpayer is a non vat taxpayer paying
3% percentage tax, the percentage tax shall be
a. 12 000
b. 9 000
c. 6,000
d. 3,000
Basic Case 3
A business taxpayer recorded the following transactions
during the month:
Philippines
Abroad Total
Sales
350 000
Purchases
150 000
TOTAL
500 000
c. 12 000
d. 18 000
BASIC CASE 4
Sandigan Company a VAT registered taxpayer , purchased
400 000 worth of goods and sold at the same for P 800
000
11. Assuming that the business operation of Sandigan
company is limited to Philippine residents , what is the
total business tax it will report on its sales?
a. 96 000
b. 48 000
c. 24 000
d. 0
12. Assuming that the purchases were import and the
sales were exports compute the business tax and total
consumption tax respectively.
a P 96 000 : P 144 000
b. P 24 000 : P 144 000
c. P 24 000 : P 72 000
d. P 0
: 48 000