Professional Documents
Culture Documents
VAT
VAT
VAT
BSA 3-1
P8-9
Output tax
Domestic sales (330,000/1.12*12%) 35,357.14
Other domestic sales (274,996/1.12x12%) 29,463.86
Export sales (200,000*0) - 64,821.00 Total input VAT
Less: Input Tax
Purchase of goods (374,000/ 1.12*12%) 40,071.43
Purchase of supplies (69,848/1.12*12%) 7,483.71
Purchase of services (154,000/ 1.12*12%) 16,500.00
Purchase of goods for export (55,000/ 1.12*12%) 5,892.86 69,948.00
VAT payable (5,127.00) (Excess Input VAT)
P8-10
VAT on importation
CIF Value 229,195.00
Expenses in claiming the goods:
Wharfage 1,540.00
Arrastre 2,295.00
Custom Duty 4,090.00
Brokerage fee and Documentary stamps 330.00
Marino Cargo insurance 2,550.00
Total 240,000.00
VAT rate 12%
VAT on importation 28,800.00
Sales 350,000.00
VAT rate 12%
Output VAT 42,000.00
Less: VAT on importation 28,800.00
Input VAT on Freight (5,000 x 12%) 600.00 29,400.00
VAT Payable 12,600.00
P8-13
Tomatoes purchased from farmers 85,000.00
Presumptive input VAT rate 4%
Presumptive input VAT 3,400.00