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  • TAX105 - TAX - 105C-Input Tax 2

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    Mae Carcido
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    This document summarizes tax computations for sales to private entities and the government before and after January 1, 2021. Before January 1, 2021, for private sales the output tax was 300T and input tax was 96T. For government sales the output tax was 120T and the standard input tax was 70T. On or after January 1, 2021, for private sales the output tax remains 300T but the input tax decreases to 84T. For government sales the output tax remains 120T and there is no longer a standard input tax. The VAT payable is calculated based on the formulas provided.

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    TAX105_TAX_105C-Input Tax 2

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    This document summarizes tax computations for sales to private entities and the government before and after January 1, 2021. Before January 1, 2021, for private sales the output tax was 300T and input tax was 96T. For government sales the output tax was 120T and the standard input tax was 70T. On or after January 1, 2021, for private sales the output tax remains 300T but the input tax decreases to 84T. For government sales the output tax remains 120T and there is no longer a standard input tax. The VAT payable is calculated based on the formulas provided.

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

    TAX105 - TAX - 105C-Input Tax 2

    Uploaded by

    Mae Carcido
    This document summarizes tax computations for sales to private entities and the government before and after January 1, 2021. Before January 1, 2021, for private sales the output tax was 300T and input tax was 96T. For government sales the output tax was 120T and the standard input tax was 70T. On or after January 1, 2021, for private sales the output tax remains 300T but the input tax decreases to 84T. For government sales the output tax remains 120T and there is no longer a standard input tax. The VAT payable is calculated based on the formulas provided.

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    © All Rights Reserved
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    of 1

    COMPUTATION :

    sales to private & to Gov 't

    BEFORE Jan 1,2021 ON OR AFTER Jan 1,2021

    }
    -

    .
    .

    PRIVATE GOV 'T PRIVATE GOV'T

    output tax =
    300T output tax =
    120T output tax =
    300T output tax =
    120T
    12% )
    ( sales ✗ 12-1 .
    ) (gates ✗ 124 .
    ) ( sales ✗
    (sales ✗ 124 .
    )
    lnputtax = 96T Input tax = 96T
    standard lnpnttax _- 70T input tax = 84T
    (punk ✗ 124 ) 71) (punk ✗ 124) 121
    ( sales ( parch ✗
    .

    ✗ .

    84T NO STANDARD INPUT TAX


    Actual input tax

    standard " " 70T


    closed to -14T NO INPUT TAX a. OSEDTO
    input tax
    expense / income ) EXPENSE / ( INCOME )

    www.u.im,
    420T
    VAT
    Payable : ? Output tax
    gov't
    output tax 420T
    ↳ assume

    r.gs
    na

    adna
    sale sa
    Input tax l80T_
    240T
    Input tax
    ¥97s output tax (private ) 300 VAT due
    lets :( WTH 't)
    ,J0÷
    VAT due
    Less
    VAT
    :Fwtk
    payable
    .tl#-lnputtaxcprivaH)9g6yTy-
    Payable
    204T VAT HAT payable

    Erin tax 120T

    Input tax :
    84T 360T 4.80T
    Transitional 6,400 ¥0T private
    4փtmd^d
    6T got -

    Actual aut-t.ae
    " 8T
    11T
    attaint!
    " -

    cop;-) -
    input
    %g¥°_
    -

    .to/T--bFWTzozT

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