TBLTAX Chapter 4
VAT Integrative Problems
1. All figures are VAT inclusive except for purchases from non-VAT registered
supplier: Mr. AA, a VAT registered taxpayer selling goods has the following sales
for the month:
Sale of Goods: Accrual Basis
Sale of Goods
Cash Sales 4,256,000.00 included
Sales of account 1,680,000.00 included
Purchases from VAT registered supplier 3,304,000.00 included
Purchase of supplies from non-VAT 250,000.00 supplier is not
supplier vat registered
Compute for the VAT Payable
Output tax (4,256,000+1,680,000)/1.12)x.12 636,000.00
Less: Input Tax (3.304,000/1.12)x.12 354,000.00
VAT Payable 282,000.00
2. All figures are VAT inclusive except for purchases from non-VAT registered
supplier: Mr. AA, a VAT registered taxpayer selling services has the following
sales for the month:
Sale Of Services: Cash Basis
Receipts for services performed 4,256,000.00 included
Billed services 1,680,000.00 excluded
Receipts for services performed last year 1,041,600.00 included
Receipts for services to be performed next 392,000.00 included
year
Receipts for materials supplied with 9,520,000.00 included
services
Purchases from VAT registered supplier 12,264,000.00 included
Purchase of supplies from non-VAT 250,000.00 excluded
supplier
Compute for the VAT payable
Output Tax
((4,256,000+1,041,600+392,000+9,520,000)/
1.12)x0.12 1,629,600.00
Less: Input Tax (12,264,000/1.12)x0.12 1,314,000.00
VAT Payable 315,600.00
3. Mr. AA, a VAT taxpayer selling cooking oil has the following information for the
month July 2020:
Sales 5,488,000.00
Purchases of plastic containers from VAT 840,000.00
suppliers
Purchases of copra 2,950,000.00
Purchases of supplies from non-VAT 95,200.00 not included -
suppliers supplier is non-
vat registered
Compute for VAT payable assuming that all figures above are VAT EXCLUSIVE.
Output Tax (5,488,000X0.12) 658,560.00
Less: Input Tax
Regular Input VAT (840,000X0.12) 100,800.00
Presumptive Input Tax (2,950,000X0.04) 118,000.00
VAT Payable 439,760.00
4. Mr. AA, changed his registration from non-VAT to VAT. Below are the information
for the month of January 2020:
Sales 6,361,600.00 included
Purchases of inventory from VAT 4,457,600.00 included
supplier
Purchases of supplies from non-VAT 375,000.00 excluded - non vat
supplier supplier
Purchases of services from VAT supplier 470,400.00 included
Additional information:
Beginning inventory on Jan. 1, 2020 are as VAT Cost
follows:
Inventory purchased from VAT supplier 112,000.0 12,000.00
0 100,000.00
Inventory of supplies from non-VAT supplier 78,000.00
Assuming that the figures above are VAT inclusive except for purchases from
non-VAT suppliers, compute for VAT payable
Output Tax (6,361,000/1.12)X0.12 681,600.00
Less: Input Tax
Purchases from VAT supplier in the Jan.
((4,457,600+470,400)/1.12)x0.12 528,000.00
Transitional input tax 12,000.00
VAT Payable 141,600.00
Note: Computation of transitional input tax
2% of value of inventory (78,000+100,000)x0.02 3,560.00
actual VAT paid on inventories (112,000/1.12)x0.12 12,000.00
5. Mr. AA, a VAT registered taxpayer selling goods has the following information for
the months of January to March 2020:
January February March
Sales 2,800,000.00 4,032,000.00 3,304,000.00
Purchases
Inventory from VAT supplier 1,680,000.00 2,968,000.00 2,212,000.00
Supplies from VAT supplier 84,000.00 16,800.00 31,360.00
Equipment from VAT supplier 1,008,000.00 - -
Furniture from VAT supplier 1,050,000.00 224,000.00 -
Gross value of capital goods 1,837,500.00 200,000.00
Gross value of capital goods: VAT exclusive
Additional information:
1. The equipment has a useful life of 10 years.
2. The furniture has a useful life of 4 years.
3. For the quarter ending Dec. 31, 2019, the input tax exceeds output tax by
P30,000.
4. All figures include VAT
Compute for VAT Payable for each month
Form 2550M Form 2550M Form 2550Q
Feb. 20 or the March 20 or the Apr. 25 or the 20th
20th day following 20th day following day following the
the close of the the close of the close of the
month month month
Summary List of Sales and Purchases - SLS/P - esubmission@[Link]
6. Mr. AA, a VAT registered taxpayer selling goods has the following information for
the month of January to March 2020:
January February March
Sales 2,800,000.00 2,912,000.00 3,528,000.00
Purchases
Inventory from VAT supplier 1,680,000.00 2,968,000.00 2,212,000.00
Supplies from VAT supplier 84,000.00 16,800.00 31,360.00
Additional information:
For the quarter ending Dec. 2019, the input tax exceeds output tax by P30,000.
Compute for VAT Payable for each month (VAT inclusive)
7. Mr. AA is renting 15 units of apartment. He has the following information for the
months of January to March 2020:
January February March
Sales 2,800,000.00 2,912,000.00 3,528,000.00
Purchases
Inventory from VAT supplier 1,680,000.00 2,968,000.00 2,212,000.00
Supplies from VAT supplier 84,000.00 16,800.00 31,360.00
Compute for VAT Payable for each month
Answer None None None
Note: Rental of residential unit not exceeding P15,000.00 per month is VAT
exempt
