VALUE ADDED TAX EXERCISES

Exercise 1

Enterprise A in the current tax period has the following documents:

1. Opening stock: 50 units of product A, purchased price (VAT-exclusive) of
100,000 VND/unit.
2. Purchases in the tax period
- 5,000 units of product B from a domestic producer with the price (VAT-
exclusive) of 200,000 VND/unit;
- 30 units of product C from a business household; the purchase price writen on
the list of purchased goods at 1,000,000 VND/unit.
3. Products sales in the tax period
- The total 50 units of product A on stock with the selling price (VAT-
exclusive) of 150,000 VND/unit.
- 2,000 units of product B with the selling price (VAT-exclusive) of 220,000
VND/unit. The remaining amount is outwarehoused to an agent (selling goods
and services at set prices) using a VAT invoice. The price written on the
invoice is 220,000 VND/unit. In the tax period, the agent has sold 1,000 units
of product B. The sales commission is 2% of the revenue.
- 25 units of product C with the selling price (VAT-exclusive) of 1,100,000
VND/unit.
Calculate the VAT payable of the enterprise in the tax period. Given:
- Input VAT of other input goods and services serving the business activities in
the tax period (with legitimate invoices and documents): 5 mil VND.
- Product B and C purchased with the payment method of bank transfer.
- VAT rate of A, B, C and commission is 10%.
- The enterprise has registered to pay VAT using the credit-invoice method.

Exercise 2

Enterprise B in the current tax period, has the following activities:

- Sold 3,000 units of product X domestically. The selling price (VAT-exclusive)
written on the VAT invoice is 200,000 VND/unit.
- Sold 1,000 units of product X domestically. On the VAT invoice, only the VAT-
inclusive price of 220,000 VND/unit is written.
- Directly exported 2,000 product X with the FOB price of 240,000 VND/unit. The
exported products are qualified for VAT deduction and refund. Exwarehoused
price: 200,000 (VAT-exclusive price)
- Entrusted exported for Company Y 5,000 product A with the total export value of
1 bil VND. The commission received from this activity is 2% of the export value.
- Used the ex-warehousing-cum-internal transportation bills enclosed with the
internal transfer order, ex-warehoused 500 units of product X to a branch in the
 same province; at the end of the tax period, the branch has sold 400 units with the
VAT-exclusive price of 200,000 VND/unit.
Requirements
1. Calculate the VAT payable in the tax period, given:
- Deductible input VAT gathered on legitimate VAT invoices: 200 mil VND.
- VAT rate of product X, A: 10%
2. Suppose for 2,000 units of exported product X, the enterprise can present the tax
declaration form but without the bank transfer documents. Calculate the VAT payable in
the tax period.

Exercise 3

Company X in the tax period has the following information:

1. Entrusted export for company A a machine with the export price of 600 million VND.
The commission received from this activity is 3% of the export price.
2. Act as an agent (selling goods at fixed price) for company B. In the period, X has sold
10,000 products at 50,000 VND/product (VAT-exclusive). The commisison received is
5% of the VAT-exclusive price.
3. Sold a product to company C with the original price of 250 million VND (VAT-
exclusive). However, in the sales contract, both parties agree with the payment method of
installments, company C will pay a total price of 300 million VND (VAT-exclusive) in
the span of 3 years.

Requirements
Determine the VAT payable of company X in the tax period. Given: X pays VAT using
the credit-invoice method. The VAT rate of products and services is 10%. Input VAT of
other input goods and services serving the business activities in the tax period (with
legitimate invoices and documents): 50 mil VND