Homework Chapter.4 Excise.Tax

EXCISE TAX HOMEWORK
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Exercise 1: Hoang Tuan Corporation has been produced goods subject to excise tax. In December 2017,
the store sold 1,500 units with the price of 1,200,000 VND/unit (VAT excluded).
Requirement: Calculate excise tax payable? Assuming the excise tax rate was 50%.
Exercise 2: Hoang Hai Company imported 5,000 units of product A subject to excise tax with CIF price
of 54USD/unit, the currency exchange rate was 20,000VND/USD.
Requirement: Calculate excise tax payable? Assuming that the excise tax rate was 35%, the import tax
rate was 10%.
Exercise 3: An Loc Corp. had the following transactions in December 2017:
1. Importing 1,000 liters of raw liquor with CIF price of 30,000 VND/liter to produce 200,000 bottles of
wine, import tax rate was 65%.
2. Exporting 150,000 bottles with FOB price of 200,000 VND/bottle.
3. Selling 1,000 bottles to a company in Vietnam with price of 220,000 VND/bottle (exclusive VAT).
Requirement: Calculate excise tax, import tax and export tax payable. Assuming that the excise tax rate of
wine was 65%, the export tax rate was 2%.
Exercise 4: Thang Long Tobacco Factory had the following transactions in December 2017:
1. Importing tobacco raw material to produce cigarettes with the total value at CIF price of
20.000.000.000 VND. Later, Thang Long used 60% of tobacco raw materials to produce 500,000 packets
of cigarette.
2. Exporting all 500,000 packets of cigarette with CIF price of 150,000 VND/packet.
Requirement: Calculate excise tax, import tax and export tax payable. Assuming that the excise tax on
tobacco raw material was 55%; Export tax on cigarette was 2%; Import tax on tobacco raw material was
30%; Shipping and insurance cost was 2% of CIF price.
Exercise 5: A domestic Business in the first quarter of 2017 had the following business transactions:
1. Purchasing 100,000 parkets of cigarette with the price of 100,000 VND/parket from a domestic
company for exporting under the signed contract. However, 50,000 parkets of cigarette could not export
due to poor quality and the Bussiness had to consumed domestically at a selling price of 140,000
VND/parket.

2. Importing 200 units of air-conditioner with FOB price of 300 USD/unit, international shipping and
insurance costs was 1,200 USD. Later, the Bussiness sold 120 units at 12,000,000 VND/unit.
Requirement: Calculate excise tax and import tax payable. Assuming that the export tax for cigarettes was
5%, the excise tax for cigarettes was 45%, the excise tax for air conditioner was 15%. Import tax was
35%, currency exchange rate was 20.000VND/USD.
Exercise 6:
Quoc Cuong Company imported 20,000 liters of raw liquor with a CIF price of 50,000VND/liter, import
tax rate of 50%, excise tax of 40%. Later, the Company took 15,000 liters of raw liquor out of the
warehouse to produce 30,000 bottles of wine.
Then:
- Exporting 15,000 bottles with FOB price of 200,000 VND/bottle. (Export tax rate is 15%).
- Selling 12,000 bottles to An Thinh Company with the price without VAT of 150,000 VND/bottle.
Requirement: Calculating the excise tax payable?