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Name:1.Given the following establishments:I.Cebu PacificII.Pegasus Night ClubIII.Isabela Electric CooperativeIV.Metro BankWhich of the above establishments is/are subject to percentage tax?2.Carrier 1:Domestic sea or air carrier for passengers or cargoes.Carrier 2:International air or sea carrier for cargoes.What is the respective business tax and tax rates on the common carriers identified above assuming they travel fromPhilippines to Canada?ABCDCarrier 10% VAT0% VAT3% OPT3% OPTCarrier 20% VAT3% OPT3% OPT0% VATUse the ff data for the next two (2) questions:MATUBIG Corp is VAT registered and a holder of franchise from the government engaged in the business of supplyingwater to several towns in the region. As recorded in its books, its total gross receipts during the month from sale of wateramounted to P 2,550,000 while the receipts from rental of its equipment amounted to P280,000. The operating expensesamounted to P2M, 11% of which was paid to VAT registered persons.3.The percentage tax due isA.P0B.P16,500C.P56,500D.P51,000Comp. P2,550,000x2% 4.The VAT payable for the month isComp. P280,000x12%=P33,600 – output VATP2,000,000x12%=P240,000x11%=26,400 – input VATP33,600-P26,400=P7,2005.(Tax Code) Juan owns shares of stock of domestic corporation which are actively traded in the local stockexchange. Due to unstable prices in the stock exchange, he decided to sell the shares. The data of whichare as follows:Selling PriceCostGain/LossMVUS CorpP230,000P220,000P10,000ABB CorpP360,000P320,000P40,000The sale is:6.An offering of shares to the investing public subsequent to initial public offeringoffering