Académique Documents
Professionnel Documents
Culture Documents
375,000
(16,500)
358,500
X 3%
10,755
78,650
1,350
950
2,428
83,378
X 3%
2,501.34
b. Seller of Services
Net Sales Price
358,500
293,000
X 3%
8,790
b. Seller of Services
Gross Sales Price
Rate of collection
Sales Receipts
Pt rate
Percentage Tax Due
83,378
65%
54,195
X 3%
1,625.87
2nd QTR
95,000
16,500
78,500
X 3%
2,355
85,000
0.00
85,000
X 3%
2,550
3rd QTR
113,000
9,000
104,000
X 3%
3,120
4th QTR
3rd QTR
4th QTR
100,000
12,000
88,000
X 3%
2,640
A, Seller of Services
1st QTR
2nd QTR
Cash Sales
Collections on credit Sales
Gross Sales Receipts
Less: Sales Ret. Allow. Disc.
Net Sales Receipts
Pt rate
Percentage Tax Due
?
?
95,000
(16,500)
78,500
X 3%
2,355
35,000
62,500
Gross Sales
Less: Sales Ret. Allow. Disc.
Net Sales
Pt rate
Percentage Tax Due
97,500
(3,500)
94,000
X 3%
2,820
22
?
?
85,000
0.00
85,000
X 3%
2,550
54,000
26,000
80.000
(9,000)
71,000
X 3%
2,130
63,000
23,000
86,000
(12,000)
74,000
X 3%
2,220
b. Seller of Services
Cash Sales
Collections on credit Sales, Feb
Collections on credit sales, Mar
Gross Sales Receipts
Less: Sales Ret. Allow. Disc.
Net Sales Receipts
Pt rate
Percentage Tax Due
35,000
24,000
18,000
77,000
3,500
73,500
X 3%
2,205
1st QTR
P. Jeepney
32,300
17,690
6,780
56,770
X 3%
1,971
65,700
P. Taxi
Passenger fees
Cargofees
QTRly Gross Receipts
Pt rate
Percentage Tax due
Co. A. IAC
11,875,000
6,290,000
18,165,000
X 3%
544,950
Co. C. ISC
720,000
7,560,000
8,280,000
X 3%
248,400
98,600
164,200
197,100
197,100
657,000
X 3%
19,710
2nd Q
P158,500.00
67,800.00
P226,300.00
X 0.03
P6,789.00
P14,600
12,500
23,700
34,900
9,800
7,350
P102,850
(8,400)
P94,450
X 3%
P2,833.50
23
2nd QTR
175,800
164,200
197,100
197,100
734,200
X 3%
22,026
P765,000
P685,000
PT Rate/vat rate
Business Tax Due
Problem 9. continuation
VAT Due (Output Tax)
Less: Vat Credit (VC)
Vat Still Payable
VAT RP
(130,000)
635,000
685,000
X 0.02
X 0.12
P12,700
P82,200
VAT RP
82,200.0
0
13,907.5
8
68,292.4
2
PT
a. Mla. Gas
Cash Sales
Collections on Credit Sales
910,000
212,500
Taxable Base
Multiplied by Tax Rates
1,122,500
X 0.02
22,450.00
PT
b. DZBB
1,340,00
0
537,250
1,877,25
0
X 0.03
56,317.5
0
VAT
c.Meralco
15,600,00
0
1,100,000
16,700,00
0
X 0.12
542,700
174,500
Taxable Base
Multiplied by
Gross Payments
717,200
% Tax Due
2,004,000
PT
d.GTC
PT
e. MWSS
3,000,000
675,000
7,250,000
1,350,000
3,675,000
X 0.10
8,600,000
X 0.02
172,000.0
0
367,500.00
A TIB
702,200
X 1/11
B TIB
702,200
X 0.10
63,837
70,220
15,000
702,200
24
2,750,00
2,750,000
VATPerson
TEB
3,680,000
Vat person
TIB
3,680,000
0
X 0.55
1,512,50
0
X 0.55
X 0.65
X 65%
1,512,500
X 0.10
X 1/11
2,392,000
X 0.12
151,250
137,500
287,040
Percentage Tax
VAT
2,390,000
X 12/112
256,258.7
1
vat
PT Rate
PT
375,000
520,000
475,000
0.05
0.05
0.01
18,750
26,000
4,750
73,000
0.07
5,110
b. Building / Offices
Net Trading Gains
Other Ordinary Income
260,000
395,000
285,000
0.07
0.07
0.07
18,200
27,650
19,950
120,410
PT Rate
216,000
192,000
75,000
250,000
165,800
PT
0.05
0.05
0.01
0.07
0.07
10,800
9,600
750
17,500
11,606
50,256
152,375
X 0.005
761.88
Total Percentage Taxes Due
25
1,352
385,000
X 0.02
7,700
1,375
9,075.00
Amount
14,600
58,600
130,200
12,650
23,600
PT Rate
0.05
0.05
0.05
0.05
0.05
PT
730
2,930
6,510
632.50
1,180
11,982.50
X 0.75
X 0.80
618,750.00
X 0.12
746,800.00
X 0.02
74,250.00
97084
VAT
PT
Life Insurance
282,000
447,000
X 0.12
620,000
X 0.02
53,640
12,400
270,000
350,000
165,000
VAT
26
PT
Life
Insurance
35,000
29,600
35,000
X 0.05
X 0.02
1,480
700
857,000
Non-Life Ins,
308,520
149,975
102,840
561,335
X 0.10
Life Insurance
102,840
102,840
X 0.05
5,142.00
56,133.50
Amount
14,690,000
588,000
818,000
22,095,000
4,900,000
595,000
Rate
0.30
0.12
0.18
0.15
0.12
0.12
Bus. Taxes
4,407,000
70,560
147,240
3,314,250
588,000
71,400
April
350,000
210,000
150,000
May
450,000
320,000
165,000
June
500,000
440,000
195,000
430,000
390,000
615,000
762,000
215,000
2,117,000
0.18
935,000
75,600
2,335,600
0.18
820,000
65,800
2,635,800
0.18
381,060
420,408
474,444
27
Prizes Won
100,000.00
250,000.00
66,666.67
175,000.00
PT Rate
0.10
0.10
0.10
0.10
PT
10,000.00
25,000.00
6,666.67
17,500.00
591,667
0.10
59,166.67
Total
B. Winnings/Prizes on Bets
Gross Dividend-after cost, before tax
Gross Winnings-net of 2500cost,bef.tax
Multiplied by % Tax Rates
Double
45,600
Place
0.04
30,200
0.10
1,824.00
3,020.00
WIN
1,600.00
100.00
1,500.00
0.10
150.00
Winning B E T S
PLACE
Forecast
DOUBLE
7,500.00
7,200.00
4,200.00
150.00
800.00
120.00
7,350.00
6,400.00
4,080.00
0.10
0.04
0.04
Quinella
6,300.00
360.00
5,940.00
0.04
256.00
163.20
(20 x 80)
735.00
(15x2)
x250
(40x4)x45
(12 x 350)
237.60
(18x2)x17
5
1,600.00
7,500.00
7,200.00
4,200.00
6,300.00
215,600
450,000
0.85
382,500
760,000
0.90
684,000
1,282,1000
X 0.18
230,778
15,400
215,378
28
1,541.80
36,700
19,600
760
57,060
1,450
55,610
X 0.03
1,668.30
850.00
818.30
50,400
1,395
51,795
3,900
47,895
X 0.03
1,436.85
750
750
1,500
(63.15)
THEORIES
A1
A2
A3
A4
A5
A6
A7
A8
28,000
X 0.80
22,400
28,000
A
B
A
A
C
C
A
D
A9
A10
A11
A12
A13
A14
A15
B
A
D
A
D
C
B
B1
B2
B3
B4
B5
B6
B7
B8
C
A- (D)
A (D)
A
C
A
B (D)
B
B9
B10
B11
B12
B13
B14
B15
B16
29
C
C
C
A
A
A (B)
D - 100,400
D -290,400
0.03
0.03
0.03
0.03
75,000
45,000
54,000
42,000
300,000
45,000
54, 000
42,000
NVRP
35,600
27,600
22,400
85,600
X 0.03
2,568
VRP
0.00
0.00
22,400
22,400
X 12 / 112
2,400
3rd Week
f. Cost Price of Services Purchased
g. Sales of Merchandise
h. Invoice Price of Goods Purchased
4,968
Amount
500,000
60,000
1,120,000
720,000
1,300,000
150,000
448,000
840,000
Rate
0.12
0.12
12 / 112
12 / 112
0.12
0.12
12 / 112
12 / 112
Output Tax
120,000
120,000
2,100,000
160,000
1,940,000
896,000
56,000
0.12
840,000
0.12
52,800
77,142.86
78,857.14
18,000
48,000
90,000
108,000
(60,000)
100,800
100,800
132,000
232,800
232,800
30
67,200
77,142.86
156,000
156,000
48,000
4th Week
i. Sales Price of Merchandise
Less: Sales Returns, Allow,Disc.
Net Sales Price
k. Purchase Price of Goods
Less: Purchase Ret. Allow. Disc.
a) Weekly Vat
Input Tax
Payable
60,000
7,200
b. Monthly
556,800
Gross Receipts
Multiplied by VAT rate
Value Added Tax (Output Tax)
Less: Vat Credit (Input Tax)
VAT Still Payable
193,760
140,000
25,000
34,800
3,248
396,808
X 0.12
47,616.96
7,795.20
39,821.76
353,142.86
203,657.14
96,320
31,360
64,960
X 0.12
7,795.20
April
195,000
0.00
195,000
0.12
23,4000
May
210,000
23,400
186,600
0.12
22,392
8,088
11,880
8,088
15,312
11,880
10,512
June
June
198,000
61,000
247,000
31,000
216,000
0.12
Input Tax
8,088
11,880
Note: The amounts on the last month of each calendar or
fiscal quarter shall be on a cumulative amounts.
25,920
April
71,000
15,000
86,000
18,600
67,400
0.12
31
F. M. Apr
X 12 / 112
32,678.57
48,792.86
22,272
19,860
22,272
10,406.57
19,860
28,932.86
Feb.
198,000
12,400
185,600
X 0.12
22,272
March
176,000
10,500
165,500
X 0.12
19,860
F. M. April
619,000
36,900
582,100
X 0.12
69,852
135,200
330,000
465,200
X 12 / 112
49,842.86
32,120.00
17,722.86
397,500
75,000
66,000
538,500
X 12 / 112
57,696.43
32
135,200
X 12 / 112
14,485.71
265,000
X 0.12
31,800
46,285.71
11,410.72
36,000
27,780
8,220
on
66,848
32,000
34,848
33
Based on
Gross Sales
Merchants
Dealer of Securities
Lending Investor
Bank
Finance Company
Broker
Restaurant / Caterer
Hotel, Motel, Resort
Dealer/Distributor of Goods
Producer/Manufacturer of Articles
Contractor
Life Insurance Company
Beauty Salon / Hair Spa
Operator of Taxis/Buses
generally
SOS-12%Vat
SOS-12%Vat
SOS- PT
SOS-12%Vat
SOS-12%Vat
SOS-12%Vat
SOS-12%Vat
SOG-12%Vat
SOG-12%Vat
SOS-12%Vat
SOS-5% PT
SOS-12%Vat
SOS-3% PT
Gross Sales
291,500
175,900
1,074,150
150,860
132,500
415,000
1,250,000
356,400
1,792,600
165,000
845,000
132,000
345,800
Collection
Rates
85%.
0.70
0.65
0.75
0.90
0.95
0.60
N.A.
N.A.
0.85
0.75
0.80
0.95
Cash
Receipts
247,775 X 12/112
123,130 X 12%
698,198 X 7%
113,145 X 12/112
119,250 X 12%
394,250 X 12/112
750,000 X 12%
356,400 X 12/112
1,792,600 X 12%
140,250 X 12/112
633,750v X 2%
105,600 X 12/112
328,510 X 3%
100,200.00
53,841.57
46,358.43
65,614.20
12,015.22
53,598.98
34
165,000.0
0
46,000.00
211,000.00
73,850.00
49,500.00
334,350.0
0
X 0.12
40,122.00
158,000.00
17,600.00
118,500.00
294,100.00
X 0.12
35,292.00
48,900.00
96,400.00
145,300.00
X 0.03
4,359.00
39,651.00
463,000.00
35
275,000.00
X 12/112
29,464.29
40,122.00
17,500.00
57,622.00
(28,157.71)
0.12
55,560.00
158,000.00
102,700.00
35,000.00
295,700.00
35,484.00
6,964.28
84,600
X 0.12
10,152
6,318
16,470
42,448.28
13,111.72
CP of Imported Goods
Ins.Prem & Freight
(20,000 x 35%)
Dutiable Value
Custom Duties
(65% of DV)
Other Import Charges(30% X DV)
Landed Cost
Multiplied by tax rate
VAT on Importation
20,000
7,000
27,000
17,550
8,100
52,650
X 0.12
6,318
165,000
X 0.05
8,250
156,750
b. GA
242,000
X 0.05
12,100
229,900
c. GC
695,000
X 0.05
34,750
660,250
d. PC
36
Output Tax
Less: Vat Credits
Vat Payable
1st
780,400
614,300
166,100
2nd
826,700
922,900
(96,200)
3rd
693,500
655,500
38,000
4th
934,900
640,700
294,200
Output Tax
Less: Vat Credits
Vat Payable
J. A. Sept.
October
60,000
101,000
November
95,000
123,000
(41,000.
(28,000
60,000
40,000
26,000
19,000
31,000
65,000
241,000
72,000
94,000
3,600
35,900
37
O. N. December
14,200.00
21,300.00
6,500.00
A1.
A2.
A3.
A4.
A5.
A6.
A7.
A8.
A9.
A10.
A11.
A12.
A13.
A14.
A15.
A16.
SET A. THEORIES
ALL
A,B, C
A17.
D
A18.
B
A19.
B
A20.
B
A21.
C
A22.
B
A23.
B
A24.
A
A25.
D vat
A26.
D
A27.
C
A28.
B
A29.
C
A30.
D,
A31.
B
A32.
SET B. PROBLEMS
D
B
A
C
B
A
D
B
A
D
D
C
D
A
B
B
B1.
B2.
B3.
B.4
B5.
B6.
B7.
B8.
B9.
B10.
B11.
B12.
B13.
B14.
B15.
B16.
B
B
C
B
NO DATA
A
A
C
A
D
B
D
B
A
D
A
38
B17.
B18.
B19.
B20.
B21.
B22.
B23.
B24.
B25.
B26.
B27.
B28.
B29.
B30.
B31.
B32.
C
A
A
D
D
D
D
D
D
B
A
B
A
D
C
B
B33.
B34.
B35.
B36.
B37.
B38.
B39.
B40.
B41.
B42.
B43.
B44.
B45.