OUTPUT VAT

Lease of residential units 436,800

TAX PAYABLE 436,800

OUTPUT VAT
Lease of residential units 434,400

TAX PAYABLE 434,400

OUTPUT VAT
Lease of residential units 172,800
Lease of commercial units 264,000 436,800
INPUT VAT (200,000)
TAX PAYABLE 236,800
OUTPUT VAT
Lease of residential units 194,400
Lease of commercial units 240,000 434,400
INPUT VAT (250,000)
TAX PAYABLE 184,400
OUTPUT VAT
Sale of goods to private entities 600,000
Sale goods to GOCC 144,000 744,000
INPUT VAT
Purchases - private entities 72,000
Purchases - GOCC 84,000 (156,000)

WITHHOLDING VAT (60,000)

VAT PAYABLE 528,000
Purchases - private entities 72,000
Purchases - GOCC 84,000
INPUT VAT 156,000
Sale of goods to private entities, net of VAT 600,000
Sale to a government owned corporations (GOCC), gross of 12% vat 144,000
OUTPUT VAT 744,000
From January acquisition
Jan.1 4,000
Jan.15 5,000
From June acquisition
Jun. 1 3,750
Jun.15 1,000
From July acquisition
Unclaimed input vat for Jul 1 acquisition 440,000
From September acquisition
Sept. 1 & 15 0
From December acquisition
Dec.20 240,000
Creditable input vat 693,750
2021 acquisitions
From January acquisition
Jan.1 4,000
Jan.15 5,000
From June acquisition
Jun. 1 3,750
Jun.15 1,000
2020 acquisition
From July acquisition
Jul. 1 240,000
Creditable input vat 253,750
From January acquisition
Jan.1 4,000
Jan.15 5,000
From June acquisition
Jun. 1 3,750
Jun.15 1,000
From July acquisition
Jul.1 8,000
From September acquisition
Sept. 1 & 15 100,800
Creditable input vat 122,550
OUTPUT VAT
Hotel rooms - collections 300,000
Sale of food and refreshments 102,000
Sale of wine, beer and liquor 78,000
Total 480,000
OUTPUT VAT
Domestic sales, total invoice price 360,000
To Adams 400,000
To Brenda 150,000
To Cristie 150,000
Gross Gifts 700,000
Non-resident alien w/o reciprocity
To Adams 400,000
To Cristie 150,000
Gross gifts 550,000
Non-resident Alien w/ reciprocity
To Adams 400,000
Citizen
To Danielle 1,500,000
To Evelyn 500,000
To Fairy 400,000
Gross Gifts 2,400,000
Non-resident Alien w/o reciprocity
To Evelyn 500,000
Non-resident Alien w/ reciprocity
To evelyn 500,000
Citizen
To Gina 1,500,000
Receivable from Hannah 200,000
To Fairy 400,000
Gross Gifts 2,100,000
Non-resident Alien w/o reciprocity
To Fairy 400,000
Receivable from Hannah 200,000
600,000
NRA- reciprocity
To Fairy 400,000
Receivable from Hannah 200,000
Gross gifts 600,000
Citizen
SP FMV Insufficient consideration
Car, Cebu 200,000 300,000 100,000
Car, Indonesia 300,000 200,000 0
Rest house, Palawan 1,500,000 2,000,000 500,000
Rest house, Thailand 1,500,000 2,500,000 1,000,000
Total gross gifts 1,600,000
NRA- w/o reciprocity
SP FMV Insufficient consideration
Car, Cebu 200,000 300,000 100,000
Rest house, Palawan 1,500,000 2,000,000 500,000
Total gross gifts 600,000
NRA- reciprocity
SP FMV Insufficient consideration
Car, Cebu 200,000 300,000 100,000
Rest house, Palawan 1,500,000 2,000,000 500,000
Total gross gifts 600,000
Net gift 4,000,000
Tax exempt gift (250,000)
Taxable gift 3,750,000
Donor's tax rate 6%
Donor's tax payable 225,000
Jan. 25
Car 500,000
Mortagage asssumed (100,000)
Net gift 400,000
Tax exempt gift (250,000)
Taxale net gift 150,000
Donor's tax rate 6%
Donor's Tax due/payable 9,000
Jan. 25
Car 500,000
Mortagage asssumed (100,000)
Net gift 400,000
Tax exempt gift (250,000)
Taxale net gift 150,000
Donor's tax rate 6%
Donor's Tax due/payable 9,000
FMV 5,000,000
Selling price 4,000,000
Gift 1,000,000
Tax exempt gif (250,000)
Taxable gift 750,000
Tax rate 6%
Donor's tax 45,000
FMV 16,000,000
Selling price 14,000,000
Gift 2,000,000
Tax exempt gift (250,000)
Taxable gift 1,750,000
Tax rate 6%
Donor's tax 105,000