Transfer and business taxes by ampongan 6th sol man mc ptx
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OTHER PERCENTAGE TAXES
IDENTIFICATION OF BUSINESS TAX PAYABLE
1. Value-added tax
2. Value-added tax
3. VAT on office supplies; Exempt on
books
4.
5.
6.
7.
8.
9.
10.
11. Value-added tax
12. Value-added tax
13. Value-added tax
Value-added tax
Common carrier’s tax
Value-added tax
Value-added tax
Value-added tax
3% Non-VAT
Exempt
14.
15.
16.
17.
18.
19.
20.
21.
22.
Premium Tax
Value-added tax
Amusement tax
Gross Receipts Tax
Value-added tax
Value-added tax on local calls
Value-added tax
Amusement Tax
VAT on sale of school & office
supplies; Exempt on sale of books
23. Value-added Tax
24. Value-added tax
25. Franchise Tax/VAT
TEST 2. MULTIPLE CHOICE
1.
B
6.
A
11.
C
16.
C
21.
A
26.
C
2.
B
7.
C
12.
A
17.
C
22.
C
27.
C
3.
B
8.
A
13.
A
18.
C
23.
B
28.
B
4.
C
9.
C
14.
C
19.
A
24.
B
29.
C
5.
A
10.
C
15.
C
20.
A
25.
B
30.
A
TEST 3 – MULTIPLE CHOICE
1.
Answer: A
2.
Answer: D
3.
Answer: C
4.
Answer: C
5.
Answer: D
6
Answer: D
7.
Answer: A
89
8.
Answer: D
9.
Answer: C
Prior periods
Current period
Succeeding period
Gross receipts
Rate of tax
Common carrier’s tax
1
0
P 50,000
300,000
10,000
360,000
3%
10,800
Answer: B
Gross receipts
Rate of tax
Amusement tax
1
1
P 360,000
18%
64,800
Answer: D
Gross receipts
Rate of tax
Amusement tax
12.
P 360,000
30%
108,000
Answer: C
Gross sales
Rate of tax
Percentage tax
13.
Answer: A
14.
Answer: A
P 67,800
3%
2,034
Gross receipts (P371,250 / 99%)
Multiply by
Value-added tax
15.
P 375,000
3/28
40,179
Answer: B
Jeepney No. 1
Jeepney No. 2
Jeepney No. 3
Jeepney No. 4
Gross receipts
Rate of tax
Common carrier's tax
26,000
22,300
21,900
21,900
92,100
3%
2,763
90
1
6
Answer:
Gross receipts (minimum) (54,733 x 3)
Rate of tax
Common carrier's tax
1
7
Answer: A
Gross receipts
Rate of tax
Percentage tax
1
8
P 125,000
3%
3,750
Answer: C
Gross receipts
Multiply by
Value-added tax
19
P125,000
12%
15,000
Answer: D
December
Rate of tax
Franchise tax
20
430,000
2%
8,600
Answer: C
Output tax (P660,000 x 3/28)
Less: Input tax
VAT payable
21
Answer: C
22
Answer: A
P 70,714
37,200
33,514
Gross receipts
Rate of tax
Franchise tax
23
Answer: C
24
Answer: A
P 500,000
3%
15,000
Amount indicated in the bill
Percentage of overseas calls
Bill on overseas calls
Divide by
Overseas communication tax
2
P 164,199
3%
4925.97
A
P 4,000
25%
1,000
11
90.91
91
5
Operation
Sale of food and softdrinks
Sale of liquor
Gross receipts
Rate of tax
Amusement tax
26.
P 450,000
65,000
72,000
587,000
18%
105,660
Answer: C
Sale of food and softdrinks
Sale of liquor
Gross receipts
Rate of tax
Percentage tax
27.
P 65,000
72,000
137,000
3%
4,110
Answer: C
Operation of cockpit
Rate of tax
Amusement tax
28
P 450,000
18%
81,000
Answer: B
Total collections
Less: Bouncing check (P125,000 x 25%) x 10%
Base
Rate
Percentage tax
29
Answer: C
Entrance fee
Foods and drinks
Bar fines
Rental
Gross receipts
Rate of tax
Amusement tax
30
P 45,000
460,000
30,000
18,000
553,000
18%
99,540
Answer: C
Gates
P1,500,00
0
250,000
30,000
1,780,000
15%
267,000
Radio and television coverage
Lease of eatery
Gross receipts
Rate of tax
Amusement tax
31
P 125,000
3,125
121,875
5%
6,093.75
Answer: B
92
Admission fee
Sale of food and softdrinks
Sale of wines, beer and liquor
Gross receipts
Rate of tax
Amusement tax
32
P 15,000
115,000
540,000
670,000
18%
120,600
Answer: C
Gross sales
Rate of tax
Percentage tax
33
P 67,800
3%
2,034
Answer: A
Gross selling price
Rate of tax
Stock transaction tax
34
Answer: B
35
Answer: D
P 120,000
.005
600
93
