Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
Scribd Logo
Upload

Welcome to Scribd!

  • 31 views

    1-Consumption Tax Exercises

    Uploaded by

    Vu Thi Thuong
    1. Enterprise A calculates its VAT payable based on sales and purchases of products A, B, and C in the tax period. Input VAT is 5 million VND. 2. Enterprise B calculates its VAT payable on domestic and export sales of product X, as well as commission from export activities. Input VAT is 200 million VND. 3. Company X calculates its VAT payable based on export and agency commission activities, as well as a sale to Company C to be paid in installments over 3 years. Input VAT is 50 million VND.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    1-Consumption Tax Exercises

    Uploaded by

    Vu Thi Thuong
    31 views2 pages
    1. Enterprise A calculates its VAT payable based on sales and purchases of products A, B, and C in the tax period. Input VAT is 5 million VND. 2. Enterprise B calculates its VAT payable on domestic and export sales of product X, as well as commission from export activities. Input VAT is 200 million VND. 3. Company X calculates its VAT payable based on export and agency commission activities, as well as a sale to Company C to be paid in installments over 3 years. Input VAT is 50 million VND.

    Original Title

    1-CONSUMPTION TAX EXERCISES

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    1. Enterprise A calculates its VAT payable based on sales and purchases of products A, B, and C in the tax period. Input VAT is 5 million VND. 2. Enterprise B calculates its VAT payable on domestic and export sales of product X, as well as commission from export activities. Input VAT is 200 million VND. 3. Company X calculates its VAT payable based on export and agency commission activities, as well as a sale to Company C to be paid in installments over 3 years. Input VAT is 50 million VND.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    31 views2 pages

    1-Consumption Tax Exercises

    Uploaded by

    Vu Thi Thuong
    1. Enterprise A calculates its VAT payable based on sales and purchases of products A, B, and C in the tax period. Input VAT is 5 million VND. 2. Enterprise B calculates its VAT payable on domestic and export sales of product X, as well as commission from export activities. Input VAT is 200 million VND. 3. Company X calculates its VAT payable based on export and agency commission activities, as well as a sale to Company C to be paid in installments over 3 years. Input VAT is 50 million VND.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    VALUE ADDED TAX EXERCISES

    Exercise 1

    Enterprise A in the current tax period has the following documents:


    1. Opening stock: 50 units of product A, purchased price (VAT-exclusive) of
    100,000 VND/unit.
    2. Purchases in the tax period
    - 5,000 units of product B from a domestic producer with the price (VAT-
    exclusive) of 200,000 VND/unit;
    - 30 units of product C from a business household; the purchase price writen on
    the list of purchased goods at 1,000,000 VND/unit.
    3. Products sales in the tax period
    - The total 50 units of product A on stock with the selling price (VAT-
    exclusive) of 150,000 VND/unit.
    - 2,000 units of product B with the selling price (VAT-exclusive) of 220,000
    VND/unit. The remaining amount is outwarehoused to an agent (selling goods
    and services at set prices) using a VAT invoice. The price written on the
    invoice is 220,000 VND/unit. In the tax period, the agent has sold 1,000 units
    of product B. The sales commission is 2% of the revenue.
    - 25 units of product C with the selling price (VAT-exclusive) of 1,100,000
    VND/unit.
    Calculate the VAT payable of the enterprise in the tax period. Given:
    - Input VAT of other input goods and services serving the business activities in
    the tax period (with legitimate invoices and documents): 5 mil VND.
    - Product B and C purchased with the payment method of bank transfer.
    - VAT rate of A, B, C and commission is 10%.
    - The enterprise has registered to pay VAT using the credit-invoice method.

    Exercise 2

    Enterprise B in the current tax period, has the following activities:


    - Sold 3,000 units of product X domestically. The selling price (VAT-exclusive)
    written on the VAT invoice is 200,000 VND/unit.
    - Sold 1,000 units of product X domestically. On the VAT invoice, only the VAT-
    inclusive price of 220,000 VND/unit is written.
    - Directly exported 2,000 product X with the FOB price of 240,000 VND/unit. The
    exported products are qualified for VAT deduction and refund. Exwarehoused
    price: 200,000 (VAT-exclusive price)
    - Entrusted exported for Company Y 5,000 product A with the total export value of
    1 bil VND. The commission received from this activity is 2% of the export value.
    - Used the ex-warehousing-cum-internal transportation bills enclosed with the
    internal transfer order, ex-warehoused 500 units of product X to a branch in the
    same province; at the end of the tax period, the branch has sold 400 units with the
    VAT-exclusive price of 200,000 VND/unit.
    Requirements
    1. Calculate the VAT payable in the tax period, given:
    - Deductible input VAT gathered on legitimate VAT invoices: 200 mil VND.
    - VAT rate of product X, A: 10%
    2. Suppose for 2,000 units of exported product X, the enterprise can present the tax
    declaration form but without the bank transfer documents. Calculate the VAT payable in
    the tax period.

    Exercise 3

    Company X in the tax period has the following information:

    1. Entrusted export for company A a machine with the export price of 600 million VND.
    The commission received from this activity is 3% of the export price.
    2. Act as an agent (selling goods at fixed price) for company B. In the period, X has sold
    10,000 products at 50,000 VND/product (VAT-exclusive). The commisison received is
    5% of the VAT-exclusive price.
    3. Sold a product to company C with the original price of 250 million VND (VAT-
    exclusive). However, in the sales contract, both parties agree with the payment method of
    installments, company C will pay a total price of 300 million VND (VAT-exclusive) in
    the span of 3 years.

    Requirements
    Determine the VAT payable of company X in the tax period. Given: X pays VAT using
    the credit-invoice method. The VAT rate of products and services is 10%. Input VAT of
    other input goods and services serving the business activities in the tax period (with
    legitimate invoices and documents): 50 mil VND

    You might also like