5. How much is the output VAT on the above transactions?

P141,600
Solution:

Hotel Accommodation: P 350,000

Food and Beverage Consumption: 750,000

Handling Charges for Cable and Internet: 80,000

Gross Receipt/Tax Base: P1,180,000

Multiply by: VAT rate: 12%

Output VAT: P 141,600

 
6.  How much was the tax base of the value -added tax? P2,130,000
Solution:

Dutiable Value/Total Value: P1,800,000

Customs Duty: 180,000

Customs Brokerage Fee: 40,000

Processing Fee: 20,000

Excise Tax and Other Expenses: 90,000

Tax Base: P2,130,000

How much was the value-added tax on importation? P255,600

Solution:

Tax Base: P2,130,000

Multiply by: VAT rate: 12%

VAT: P 255,600