PHILIPPINE ASSOCIATION of CERTIFIED TAX TECHNICIANS

ONLINE SEMINAR (January-February 2021)

SEASON 3 – OTHER PERCENTAGE TAXES

I. A person had the following sales during the preceding year (assume independent situations):
Indicate whether subject to VAT, 3% Non-VAT, or Exempt from VAT/Percentage Tax in 2018:

Situation Gross receipts - PY VAT Registered Not VAT Registered

1 P 80,000
2 800,000
3 3,500,000

II. A person had the following gross receipts from RENTAL OF REAL PROPERTY. Put a check on
the VAT column if subject to VAT, or on the 3% OPT column if subject to 3% Non-VAT.
Monthly Rent Aggregate
Situation Type of Property per unit Annual Rental VAT 3% OPT

1 Commercial Bldg P 12,000 P 2,300,000

2 Residential 14,500 2,900,000
3 Residential 16,000 2,700,000
4 Residential 15,500 3,500,000
5 Residential 14,500 3,500,000

III. Nena Ivana y Magdalena, a professional actress, had the following data for the quarter
ending March 2019 (amounts are exclusive of tax):
TIN 169-888-969
RDO Code 069
Registered address 88 Biak na Bato St., Bgy. Bulubundukin, Malaybalay City,
Bukidnon
ZIP Code 9990
Contact Number 0999 6666777
Receipts from talent fees P4,000,000
Gross receipts from jeepneys (4 units) 1,000,000
Purchases of wardrobes used in films 1,000,000
Purchase of spare parts of jeepneys 40,000
Public relations services for image build-up as an actress 100,000
Salary of jeepney drivers 160,000
Insurance premiums for jeepneys 20,000
Rent of office space used both for her occupation and jeepney
business, subject to VAT 400,000

1. Compute for the VAT payable by Miss Ivana.

A. P300,000 C. P 480,000 E. None of the above
B. 309,600 D. 420,000
2. Compute for the percentage tax payable by Miss Ivana.
A. P 24,600 C. P 30,000 E. None of the above
B. 23,400 D. 28,200
 3. Prepare a percentage tax return based on the data available.

IV. Cea Buyo, is a businessman with transactions in the Philippines and abroad. His domestic
and international transactions during the period are as follows:
Overseas calls: Local calls P 2,500
Outgoing - Monthly bill 1,100
Paid by Cea Boyo P 20,000
Paid by the call 10,000
receiver
Assume that the amounts do not include the tax.
1. Compute the VAT payable
A. P 2,432 C. P 432 E. None of the above
B. 8,400 D. 2,832
2. Compute for the overseas communications tax
A. P 2,000 C. P 2,400 E. None of the above
B. 432 D. 2,842

V. A businessman operates two separate lines of business - Kainan, a restaurant (VAT) and La
Bamba, a Videoke Bar. In a taxable period, it had the following data, exclusive of tax:
Sale of services: From operation of La Bamba:
From operation of Kainan: Cash sales P 285,000
Cash sales P 350,000 Accounts receivable 14,000
Accounts receivable 80,000 Credit card sales 260,000
Debit card sales 130,000
Online sales 286,000
Payments for operations of Kainan (70% are to VAT taxpayers) is P500,000

1. Compute for the VAT payable

A. P 59,520 C. P 49,920 E. None of the above
B. 91,920 D. 15,600
2. Compute for the percentage tax payable
A. P 98,100 C. P 71,100 E. None of the above
B. 15,600 D. None

VI. A stockbroker who is not a dealer in securities sold 10,000 shares of stock of Bago
Corporation for P5.50 per share. The cost per share is P4.50 while the par value is P6.
1. Compute for the business tax is the shares are listed and traded in the stock exchange.
A. P 360 C. P 60 E. None of the above
B. 330 D. 270
2. How much is the capital gains tax on the sale if the shares are not listed and traded in the
stock exchange?
A. P 1,500 C. P 75 E. None of the above
B. 330 D. 900

VII. Narcissus owns a non-VAT registered business. His annual gross sales/receipts ranges from
P2,000,000 to P2,600,000. During the period, the gross sales/receipts amounted to
P600,000.
HOW MUCH is the business tax if the business is –
a. Beauty saloon?
b. Taxicab?
c. Videoke bar?
d. LPG dealer?
e. Radio station?