Goods EWT 1%

Services EWT 2%
VAT Withheld 5%
Jackie is VAT TP
Goods Provider Service Provider
Receipt 1,311,300 Receipt 1,311,300
1.06 1.05
VAT Base 1,237,075 VAT Base 1,248,857
Rate 12% Rate 12%
Output VAT 148,449 Output VAT 149,863
Input VAT (51,000) Input VAT (51,000)
VAT Withheld (61,854) VAT Withheld (62,443)
VAT Payable [36] 35,595 VAT Payable [38] 36,420

Sales 1,237,075 Sales 1,248,857

Purchases (470,000) Purchases (470,000)
Taxable Income 767,075 Taxable Income 778,857
Tax Rate 25% Tax Rate 25%
Tax Due 191,769 Tax Due 194,714
CWT (12,371) CWT (24,977)
Income Tax Pay [37] 179,398 Income Tax Pay [39] 169,737

Goods EWT 1%
Services EWT 2%
GPT Withheld 3%
Jackie is Non-VAT TP
Service Provider Goods Provider
Receipt 1,311,300 Receipt 1,311,300
0.95 0.96
Gross Receipts 1,380,316 Gross Receipts 1,365,938
GPT Rate 3% GPT Rate 3%
Business Tax Due 41,409 Business Tax Due 40,978
3% Withheld (41,409) 3% Withheld (40,978)
Business Tax Pa [40] 0 Business Tax Pa [42] 0
Service Provider Goods Provider
Gross Receipts 1,380,316 Gross Receipts 1,365,938
Purchases (470,000) Purchases (470,000)
Input VAT (51,000) Input VAT (51,000)
Gross Profit 859,316 Gross Profit 844,938
GPT (41,409) GPT (40,978)
Taxable Income 817,906 Taxable Income 803,959
Tax Rate 25% Tax Rate 25%
Tax Due 204,477 Tax Due 200,990
CWT (2%) (27,606) CWT (1%) (13,659)
Tax Payable [41] 176,870 Tax Payable [43] 187,330
Rhinoplasty 140,000
1.12
Base 125,000
Excise Tax Rate 5%
Excise Tax 6,250

SP 100% 90,278 [46]

Cost 72% 65,000
Gross Income 28%
GPT 3%
Net Income 25%

Jackie is VAT
SP 100% 86,667
Cost 75% 65,000
Net Income 25%

SP 86,667
Output VAT 10,400
Total SP 97,067 [47]
 Cost 1,800,000
Rate 12%
Input VAT 216,000
Months 60
Input VAT per month 3,600
Input VAT per quarter 10,800 [48]

Input VAT 216,000

Credited Input VAT 14,400
Deductions 201,600 [49]

Liters 50,000 Sales 18,094,400

Excise Tax Rate 56.18 LBT Rate 37.5% of 1%
Excise Tax 2,809,000 [50] LBT 67,854 [51]

Cost 8,500,000
Excise Tax 2,809,000
Total Cost 11,309,000
Mark-Up Rate 160%
Sales 18,094,400
 Extracted 5,000
FMV 540
FMV of Extracted 2,700,000 2,700,000
Rate 4% 10%
Excise Tax 108,000 [52]
Quarry Tax 270,000 [53]

Raw Land 20,000,000

Rate 2%
Transitional Input VAT 400,000
Agricultural Purchases 500,000 Output VAT 240,000
Rate 4% Input VAT (116,000)
Presumptive Input VA 20,000 [55] Creditable Input VAT (60,000)
VAT Payable 64,000 [57]
Computation of Input VAT
Presumptive Input VAT 20,000
Packaging materials 84,000
Labels 12,000
Total Input Tax 116,000 [56]
Computation of Input VAT
Goods 26,400
Supplies 2,400
Air-conditioners 6,000
Tota Input VAT 34,800
 Franchise for electricity
GR from franchise 12,000,000
Income from lease 800,000
Total Gross Receipts 12,800,000
VAT Rate 12%
Business tax [59] 1,536,000

Franchise for gas

Rate
GR from franchise 12,000,000 2% 240,000
Income from lease 800,000 3% 24,000
Business tax [60] 264,000

Franchise for broadcasting

GR from franchise 12,000,000 Customs Duty (10%) 12,500
Income from lease 800,000 Other Charges 9,500
Total Gross Receipts 12,800,000 Total Landed Cost 147,000
VAT Rate 12% VAT Rate 12%
Business tax [61] 1,536,000 VAT on Importation [62] 17,640

Dutiable Value 125,000

 Jackie Appliance Corporation Zhakie Appliance Corporation
Computation of Output VAT
Sales (Gross of VAT) 336,000 Sales (Gross of VAT) 448,000
112% 112%
Gross sales 300,000 400,000
Deemed sale 190,000 Output VAT 12% 48,000
Total sales 490,000
Output VAT 12% 58,800 Purchases (Gross of VAT) 224,000
112%
Computation of Input VAT 200,000
Purchases (Net of VAT) 215,000 12% (24,000)
Input VAT 12% (25,800) Deemed sale transaction (22,800)
Deferred Input VAT (3,500) VAT Payable 1,200 [64]
VAT Due and Payable 29,500 [63]
 SP 500,000
Value Added Tax 70,000
Inclusive of VAT 570,000
VAT Rate 112%
VAT Base 508,929
VAT Rate 12%
Output VAT 61,071 [65]

*Cinema hall is amusement tax -> Provincial Tax

*Retailing business -> Municipal Tax
If located in City 50,000 or less <- Brgy may collect LBT
If located in Municipality 30,000 or less <- Brgy may collect LBT

Cinema Hall 210,000

Rate 10%
Amusement Tax 21,000 [66]

Retailing business 45,000 exceed 30,000 threshold

NIL [67]
 2nd Quarter July August 3rd Quarter
Output VAT 560,000 200,000 240,000 710,000
Input VAT (590,000) (160,000) (190,000) (560,000)
Excess VAT (30,000) (30,000)
Paid (60,000)
VAT Payable (30,000) 10,000 50,000 60,000

VAT to be paid during July NIL [68]

VAT to be paid during August 10,000 [69]
VAT payable for 3rd quarter 60,000 [70]