R.G.

FLORENTINO CONSTRUCTION AND TRADING

SCHEDULE OF VAT RETURNS - 2019
1ST QUARTER

SALES
PRIVATE SALES 41,284.50 4,954.14
GOVERNMENT SALES 13,689,084.05 1,642,690.09
EXEMPT SALES -
TOTAL SALES 13,730,368.55 1,647,644.23
Less: Allowable Input Tax
Input Tax Carried Over from Previous Period -
Purchases of Goods other than Capital Goods 1,644,083.74 197,290.05
Domestic Purchase of Services -
Purchases not Qualified for Input Tax 88,865.00
TOTAL AVAILABLE INPUT TAX 1,732,948.74 197,290.05
Less: Deduction from Input Tax
Input Tax on Sales to Gov't. closed to expense - 761,539.05
Input Tax allocable to Exempt Sales -

TOTAL ALLOWABLE INPUT TAX 958,829.10

NET VAT PAYABLE 688,815.13

LESS: TAX CREDITS/ PAYMENTS
Monthly VAT Payments - previous two months (for BIR form 2550Q) 3,220.93
VAT Withheld on Sales to Government 684,454.20
VAT paid in return previously filed, if this is an amended return -
TOTAL TAX CREDITS/ PAYMENTS 687,675.13
TAX STILL PAYABLE (OVERPAYMENT) 1,140.00
1,140.00
- 0.00
 2ND QUARTER 3RD QUARTER 4TH QUARTER

31,849.42 3,821.93 276,710.00 33,205.20 99,180.19 11,901.62

23,688,162.76 2,842,579.53 1,220,523.21 146,462.79 151,339.29 18,160.71
- - -
23,720,012.18 2,846,401.46 1,497,233.21 179,667.99 250,519.48 30,062.34

- - 101.90
4,108,044.78 492,965.37 1,501,827.92 180,219.35 4,059,439.15 487,132.70
- - - -
301,750.50 65,096.60 330,530.35
4,409,795.28 492,965.37 1,566,924.52 180,219.35 4,389,969.50 487,234.60

- 1,165,867.94 61,475.63 283,684.03

- - -

1,658,833.31 118,743.72 203,550.57

1,187,568.15 60,924.26 - 173,488.23

1,633.76 -
1,184,408.14 61,026.16 7,566.96
- - -
1,186,041.90 61,026.16 7,566.96
1,526.25 - 101.90 - 181,055.19
1,526.25
0.00
R.G. FLORENTINO CONSTRUCTION AND TRADING
Initial Computation for ITR - 2019
-

Government Sales 38,749,109.31

Sales (Drugstore) 153,059.82
Sales (Emission) 295,964.29
Add: 1,927,406.98
TOTAL 41,125,540.40
Less: Cost of Services
Materials (please see sched 1) 12,099,638.04
Labor 5,447,572.00
Overhead 17,871,103.58 35,418,313.62 86%
GROSS PROFIT 5,707,226.78
Less: Expenses
Salaries and Wages per (WC) 352,000.00
Professional Fees (per WE) 84,000.00
Rent (per WE) 48,000.00
Taxes and Licences 210,660.00
Communication, Lights and Water 109,200.00
Repairs and Maintenance 118,255.00
Office Supplies 56,190.00
Representation 86,170.00
Fuel and Oil 564,180.00
SSS/PHIC/HDMF Contribution 23,599.00
Others 345,159.66
Travell & Transpo 58,770.00
Miscellaneous Expense 405,110.00 2,461,293.66 6%
NET INCOME 3,245,933.12 8%
Tax Due 888,698.60 2%
Less: Tax Credits
1st - 3rd Qtr Payment 14,903.00
BIR Form 2307 748,596.74
TAX PAYABLE 125,198.86

Approved by:

____________________________________
(Signature over Printed Names)
Date: _________________________
Amount of Purchases per SLSP (2019)
Schedule 1

January 693,057.50 43,655.00 649,402.50

February 658,780.56 45,210.00 613,570.56
March 381,110.68 381,110.68 1,644,083.74
April 1,860,800.94 139,997.00 1,720,803.94
May 1,476,911.63 96,200.00 1,380,711.63
June 1,072,082.71 65,553.50 1,006,529.21 4,486,155.67
July 378,110.89 - 378,110.89
August 194,828.87 32,961.00 161,867.87
September 993,984.76 32,135.60 961,849.16
October 909,593.42 111,990.00 797,603.42
November 1,251,452.36 107,776.60 1,143,675.76
December 2,228,923.72 110,763.75 2,118,159.97
12,099,638.04

0 750 -750
 Over
Over P250,000 Over P400,000 Over P800,000 P2,000,000 but Over P8,000,000
but not over but not over but not over not over
P400,000 P800,000 P2,000,000 P8,000,000
NET TAXABLE INCOME 3,245,933.12 3,245,933.12 3,245,933.12
Less: 250,000.00 400,000.00 800,000.00 2,000,000.00 8,000,000.00
- 250,000.00 2,845,933.12 - 800,000.00 1,245,933.12 - 4,754,066.88
Multiply by 20% 25% 30% 32% 35%
- 50,000.00 711,483.28 - 240,000.00 398,698.60 - 1,663,923.41
Add: - 30,000.00 130,000.00 490,000.00 2,410,000.00
Tax Due - 50,000.00 741,483.28 - 110,000.00 888,698.60 746,076.59
R.G. FLORENTINO CONSTRUCTION AND TRADING
SCHEDULE OF VAT RETURNS - 2019
OCTOBER NOVEMBER DECEMBER

SALES
PRIVATE SALES 59,102.87 7,092.34 25,457.16 3,054.86 14,620.16 1,754.42
GOVERNMENT SALES - - - - 151,339.29 18,160.71
EXEMPT SALES - - -
TOTAL SALES 59,102.87 7,092.34 25,457.16 3,054.86 165,959.45 19,915.13
Less: Allowable Input Tax
Input Tax Carried Over from Previous Period 101.90 88,721.97 222,908.20
Purchases of Goods other than Capital Goods 797,603.42 95,712.41 1,143,675.76 137,241.09 2,118,159.97 254,179.20
Domestic Purchase of Services - - - -
Purchases not Qualified for Input Tax 111,990.00 107,776.60 110,763.75
TOTAL AVAILABLE INPUT TAX 909,593.42 95,814.31 1,251,452.36 225,963.06 2,228,923.72 477,087.39
Less: Deduction from Input Tax
Input Tax on Sales to Gov't. closed to expense - - 221,193.59
Input Tax allocable to Exempt Sales - - -

TOTAL ALLOWABLE INPUT TAX 95,814.31 225,963.06 255,893.81

NET VAT PAYABLE - 88,721.97 - 222,908.20 - 235,978.67

LESS: TAX CREDITS/ PAYMENTS
Monthly VAT Payments - previous two months (for BIR form 2550Q) - -
VAT Withheld on Sales to Government - - 7,566.96
VAT paid in return previously filed, if this is an amended return - - -
TOTAL TAX CREDITS/ PAYMENTS - - 7,566.96
TAX STILL PAYABLE (OVERPAYMENT) - 88,721.97 - 222,908.20 - 243,545.64