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  • Pre-Test - Percentage Taxes and Rates

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    Jeane Mae Boo
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    Biyahe Pilipinas Bus had P1,500,000 in passenger transport receipts, P750,000 in cargo transport receipts, and P250,000 in excess baggage receipts for April 2015. MVP Company had P9,000,000 in gross receipts from franchise use in 2015. The document asks to calculate the CCT for Biyahe Pilipinas and VAT percentage for MVP Company's different franchises, including a telephone company with P350,000 from overseas services.

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    Biyahe Pilipinas Bus had P1,500,000 in passenger transport receipts, P750,000 in cargo transport receipts, and P250,000 in excess baggage receipts for April 2015. MVP Company had P9,000,000 in gross receipts from franchise use in 2015. The document asks to calculate the CCT for Biyahe Pilipinas and VAT percentage for MVP Company's different franchises, including a telephone company with P350,000 from overseas services.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    30 views1 page

    Pre-Test - Percentage Taxes and Rates

    Uploaded by

    Jeane Mae Boo
    Biyahe Pilipinas Bus had P1,500,000 in passenger transport receipts, P750,000 in cargo transport receipts, and P250,000 in excess baggage receipts for April 2015. MVP Company had P9,000,000 in gross receipts from franchise use in 2015. The document asks to calculate the CCT for Biyahe Pilipinas and VAT percentage for MVP Company's different franchises, including a telephone company with P350,000 from overseas services.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 1

    Percentage Taxes and Rates

    Problems

    Biyahe Pilipinas Bus is acommon carrier by land. During the month of april 2015, it has the
    following gross receipts:

    Transport of Passengers P1,500,000

    Transport of Cargoes 750,000

    Excess Baggage 250,000

    1. How much is the CCT?

    2. How much is the value-added tax?

    MVP Company is a Franchise holder. During 2015, its gross receipts from the use of its
    franchise amounted amounted to P9,000,000. Compute the applicable VAT percentage tax for
    the following franchise assuming MVP company is a(n):

    3. Electric utility

    4. Telephone company

    5. Television company

    6. Tollway operator

    7. Water utility

    8. Assume further that as a telephone company, P350,000 of its receipts is due to services
    rendered for overseas dispatch originating from the Philippines.

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