Professional Documents
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Tut Tax 4
Tut Tax 4
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Faculty of Management and Tourism – Taxation – Spring 2024
Question 2: CUBIC - An entertainment group has the following data in a tax month
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Question 3: LUXI Co. engaging in golf business has the following data for a tax month
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Faculty of Management and Tourism – Taxation – Spring 2024
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Question 4: Data for ACOH Inc., a liquor producer, in a tax month as follow
1. Import wine for sale in domestic market
12o alcohol: 6,000 bottles at price of VND40,000. Import duty 20%.
43o alcohol: 3,500 bottles at price of VND110,000. Import duty 25%.
2. Sale of wine with 12o alcohol: 5,000 bottles at before VAT price of VND100,000
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Faculty of Management and Tourism – Taxation – Spring 2024
3. Sale of win with 43o alcohol: 2,000 bottles at before-VAT price of VND300,000
4. 100 bottles of wine with 43o alcohol used for company’s conference and reception.
Deductible input VAT is VND60 million.
Required: Determine Excise duty and VAT payable for ACOH Inc. in this tax period. VAT is 10%,
Excise duty is 25% for 12o alcohol, 50% for 43o alcohol.
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Faculty of Management and Tourism – Taxation – Spring 2024
3. Domestic sales: 20 cars of 5-seat type with cylinder capacity of 3,000 cubic cm at
before-VAT price of VND672 million.
Total deductible input VAT is VND250 million.
Required: Determine excise duty and VAT payable by this company in the tax period. SPEEDI
Co. engages in car production and trading. All exports are supported with sufficient documents.
Excise duty applicable for 16-seat and 5-seat cars are 15% and 60% respectively. VAT is 10%.
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Question 6: CIGI - a tobacco company has the following data in a tax month
1. Purchased 10,000 kg of processed tobacco with before VAT price of 82,500 dongs per kg
2. Used all of the above processed tobacco to produce 500,000 packets of cigarette
3. Sale of cigarette: 400,000 packets with before VAT price of 9,900 dongs per packet
No inventory of processed tobacco and cigarette at beginning of period
Required: determine excise duty payable and VAT payable of CIGI for the month
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Faculty of Management and Tourism – Taxation – Spring 2024
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Question 7: GOLD LID, a beer producer, incurs the following data for a period
1. Purchase of draft beer: 500,000 liters at before-VAT price of VND7,500. Company uses
the draft beer to produce 1,000,000 bottles of beer.
2. Exportation of bottled beer: 350,000 bottles at FOB price of VND10,000.
3. Selling 50,000 bottles at price of VND9,500 to a company in EPZ.
4. Selling 250,000 bottles at before-VAT price of VND9,500 to a trade company which then
exports according to a trade contract signed with a foreign company.
5. Domestic sales are 200,000 bottles at before VAT price of VND13,500.
6. Deductible input VAT of goods and services other than draft beer purchased above is
VND10 million.
Required: Determine the amount of excise duty and VAT payable by GOLD LID for the tax
month. There is no material in inventory at the beginning of tax month. Tax rates applicable are
10% of VAT and 50% of excise duty. Exports are supported with sufficient documents.
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Faculty of Management and Tourism – Taxation – Spring 2024
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