Topic: Principles of VAT deduction and allocation

Multiple-choice questions

1. Three main conditions for input VAT deduction:

A. Having enough legally supporting documents; already paid; support to company’s business
activities
B. Having enough legally supporting documents; having payment proofs from company’s asset;
support to company’s business activities
C. Having enough legally supporting documents; paid by bank transfer; support to company’s
business activities
D. None of above
2. What is the VAT rate applied for “Education and vocational training as prescribed by law”?
A. 5%
B. 0%
C. Not subject to VAT
D. 10%
3. Determine the deductible VAT when purchasing a 9-seater car with the purchase price excluding
10% VAT is 2.6 billion VND as a means of transportation for the company
A. 260 million VND
B. 160 million VND
C. Non-deductible
D. None of above
4. Determine the deductible VAT when purchasing an office table with the purchase price
excluding 10% VAT is 19 million VND, paid by petty cash
A. 1.9 million VND
B. Not deducted
C. None of above
5. Assume that the revenue subjects and not subjects to VAT in Q2/2022 are: 300 mil VND and 500
mil VND; the input VAT used for both is 200 million VND, let’s find the deductible VAT
A. 50 million VND
B. 70 million VND
C. 60 million VND
D. 75 million VND