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Exercises 3: At the import-export company namely J, there were some business activities in a period as followed: 1) Import 12,000 products N, prescribed by CIF rules and changed into Vietnam dong was 50,000 VND per a product. According to the records of the authorities, there were 2,000 totally damaged products due to natural disasters in the international shipping. 3) Import 3,000 products M, prescribed by CIF and priced 3USD per one product. Customs Inspection identified 300 shortage products. Taxable rate is 22,000 VND/USD 4) Export 200 tons of P, and gate price was 4,200,000 / ton Determination of export and import taxes in each circumstance above Knowing that:  Import duty rate of product N is 10%, M: 15%  Export duty rate of product P is 20%  Import dutiable value is determined by the first method

1. Import tax rate payable for products N: 12.000 x 50.000 x 10% = 50.000.000 VND 2. Import tax rate payable for products M: 3.000 - 300 x 3 x 22.000 x 15% = 26.730.000 VND

3. Export tax is payable for producst P: 200 x 4.200.000 x 2% = 16.800.000 VND  Total import tax rate payable: 50.000.000+26.730.000 = 76.730.000VND

Exercises 5: At the tobacco factory K, there were some business activities in a month as followed: Tobacco factory K imported tobacco fibers as raw materials for production of filter cigarettes. The total value of imports, prescribed by CIF, in term of Vietnamese monetary system was 16 billion dong. The factory has used 60 % raw materials and made 300.000 finished products of bars of cigarettes. Factory exported 180.000 finished products, prescribed by CIF, with the price of 78.000 VND per bar of cigarettes and made total domestic sale of 50.000 ones with the non-value-added-tax price of 90.750 VDN per a bar of cigarettes .Identify some types of taxes such as: import, export , excise and reimbursement taxes ( if any) related to factory K. Knowing that :  The export tax rate is 2 %  Import tax rate is 30 %  The rate of excise duty on tobacco is 65 %  Insurance and international shipping accounts for 2% of CIF  Import dutiable value is determined by the first method

(1) Import tax payable = 16 billion x 30% = 4800 million

Excise duty payable = (16 billion + 4800 million) x65% = 13520 million (2) Export tax payable = 180000 x (1 – 2%) x 78000 x 2% = 275184000 Import tax be refunded = Excise duty be refunded =

180000 × 60 % × 4800million 300000 13520 million × 60 % ×180000 300000

(3) Excise duty payable (sell) = 50000 x Excise duty be deducted =

90750 1+65 %

= 1728 million = 4867.2 million

x 65% = 1787.5 million

13520 million × 60 % ×50000 300000

= 1352 million

Excise duty payable = 1787.5 million - 1352 million = 435.5 million

Exercises 9: At a construction company Y. there were some following data in the tax period: 1. A contract with investor A: total project value excluding VAT and including the value of construction materials was 900 million dong. 2. A contract with investor B: the investor provided construction materials; total project value excluding VAT as well as the value of construction materials was 300 million dong. 3. The company was allocated a 2000m2 land by the state to build houses for sales. Fee of land usage must submit to state budget according regulated price of 500,000VND/m2. The Company has built 20 houses for sale, price for a house and fee for transferring of the land usage right, which excluding VAT, totaled 500 million VND (This price included 300 million VND for a house sale and 200 million dong for fee) 4. Company was leased a 100,000m2 land by the state in 50 years to build infrastructures for rent. A price for rent was paid for the State of 50,000 VND/m2/year. After finishing off, company Y decided to give a sublease this land

in 20 years for company Z to build a manufacturing plant; price for rent excluding VAT was 200,000VND/m2/year Requirements: Determine VAT arising in each circumstance above and VAT must submit in a period of company Y. Know that: -

The contract with investor A: payment according to the value of volume of construction handover. In a period, specific volume of work completed handover was 50% in comparison with total project. Investor accepted payment.

-

The contract with investor B: work has completed and handover. Investor has paid

-

For 2000 m2 land was assigned by state: Company Y has made sale of 15 houses

-

For 100000 m2 land was leasing by state: Company Z agreed to pay for rent 5 – year installments. In period, company Z has paid for the first installment ( included 5 years ) to company Y

-

Total VAT input ,deducted in period, was 2500 million VND

-

VAT in all cases above is 10% ANSWER: 1. The output VAT = (900 miliion x 10% ) x 50% = 45 milliom 2. The output VAT = 300 milliom x 10% = 30 million 3. The output VAT = [500 million – ( 100 m 2 x 0,5 million )] x 15 house x 10% = 675 milliom 4. The output VAT = [ 100.000

m 2 x (0,2 million – 0,05 million)] x 10% x

5 = 7500 million  VAT must submit = the output VAT – the input VAT = ( 45 m + 30 m + 675 m + 7500 m) – 2500 m

= 5750 million

Exercises 10: Tuan Hung, a travel company, in August/20xx, there were the some transactions arising as followed: 1) Execute a contract with G company, it made a tour for 50 employees from the company G travelling from HCM City to Da Lat and returned within 5 days, the package price was 6.05 million VND /person. 2) Execute a contract with Singapore Travel Company in the form of a package tour for a Singapore tourist group to visit in Vietnam and returned Singapore within 7 days, for a total payment exchanged into VND was 530 million, which included in airfares, accommodation, meals, and specific sightseeing programs. In this, 2 – way air tickets from Singapore to Vietnam cost 200 million VND. 3) Carry out a contract with H company, it made a tour for 30 employees from the H company travelling from Vietnam to Thailand and returned within 6 days, the package price was 15 million VND /person, and then Tuan Hung Travel Company has signed a contract with Thailand travel company for 12.8 million VND /person, Thailand Travel Company was responsible for airfares, accommodation, meals, specific sightseeing programs in Thailand. Require: Determine Value Added Tax incurred in each circumstance mentioned above and the payable value added tax in monthly for Tuan Hung Travel Company. Knowing that: The company pays the tax according to deduction method. The value added tax is 10% The total VAT input was deducted in the month of 20 million VND

1) The value added tax paid: 6.050.000*50/(1+0.1)*10% = 27.500.000 VND 2) Taxable revenue: 530.000.000 – 200.000.000 = 330.000.000 VND The value added tax paid: 330.000.000/(1+0.1)*10% = 30.000.000 VND 3) Taxable revenue: (15.000.000 – 12.800.000)*30 = 66.000.000 VND The value added tax paid: 66.000.000*10% = 6.600.000 VND The value added tax payable: 27.500.000 + 30.000.000 + 6.600.000 – 20.000.000= 44.100.000VND

Exercises 11: At company Beta specialized in import and export alcohols, there were some transactions arising in a duty period as followed: 1. Company Imported 405 bottles of 400 wine , prescribed by CIF and converted into VND, with the price of 400.000VND/bottle. The company used all of this along with other materials (not be levied by excise tax), which purchased in Vietnam, to put into production and, finally, obtained 60.000 alcohol bottles of Beta. 2. Company Beta sold 40.000 bottles of Beta to an enterprises Z located in processing zones Tân Thuận with the price of 70.000 VND/bottle. 3. Company Beta sold 16.000 bottles to its agent Binh Minh with the price excluding VAT of 81.250 VND/bottle. At the end of period, the agent remained 1.000 bottles in stock. 4. Company Beta exported directly 3.000 bottles of Beta, prescribed by FOB, with the price of 4 USD/bottle. The exchange rate for tax calculation is 22.000 VND/bottle.

 Determine: 1. Tax payable at import stage bottles of 400 alcohols. 2. Tax payable, refundable or deductible (if any) at stage of selling to enterprises Z located in processing zone Tan Thuan. 3. Tax payable, refundable or deductible (if any) at stage of selling to its agent Binh Minh. 4. Tax payable, refundable or deductible (if any) at export stage. 5. VAT payable at end of period. 6. Excise tax payable at end of period and excise duty refundable in the period. In which: 

The import tax rate of 400 alcohol is 65%



The export tax rate of alcohol is 2%



The excise tax rate of alcohol 400 is 50%, alcohol Beta is 25%



The value added tax on all items is 10%



The value added tax input is deducted of 200,6 million dong



Import taxable value calculation according to the first method. Answers 6:

1. Import duty payable: 405 x 400.000 x 65%= 105.300.000 VND Excise duty payable at import stage: (105.300.000.000 + 400.000 x 405) x 50%= 133.650.000VND Value Added Tax (VAT): (105.300.000.000 + 400.000 x 405+133.650.000) = 40.095.000VND 2. Export duty payable: 70.000 x 40.000 x 2%= 56.000.000 VND

Excise duty refund:

40.000 x133. 650.000 = 89.100.000VND 60.000

Import duty refund:

40.000 60.000

x 105.300.000 = 70.200.000VND

3. Output excise duty payable: 25% x:

Export duty deduction:

15.000 60.000

(15.000 x 81250) = 243.750.000VND 1+25 %

x 133.650.000 = 33.412.500VND

Excise duty payable: 243.750.000 - 33.412.500 = 210.337.500VND Output VAT: 10% x 15.000 x 81.250 = 181.875.000VND 4. Excise duty refund:

Import duty refund:

3.000 x133. 650.000 = 6.682.500VND 60.000 3.000 60.000

x 105.300.000 = 5.265.000VND

5. VAT payable at the end period: 181.875.000 – 200.600.000 = -18.725.000VND 6. Excise duty must payable to the tax authorities: 135.650.000 + 210.337.500 + Excise duty refund in period: 89.100.000 + 6.682.500 = 95.728.500

Exercises 12: At a brewing company Anpha, there were some transactions arising in a duty period as followed: (1) Import 270 bottles of 400 wine , prescribed by CIF and converted into VND, with the price of 300.000VND/bottle. The company used all of this along with other materials (not be levied by excise tax), which purchased in Vietnam, to put into production and, finally, obtained 60.000 alcohol bottles of Beta. (2) Export directly overseas 30.000 bottles, prescribed by CIF and converted into VND, with the price of 33.600VND/bottle, in which included shipping charges (F) and international insurance (I) was 1.200 VND/ bottle. (3) Sell 10.000 bottles of Anpha wine to a local retailer with the price excluding value – added tax was 37.500 VND/ bottle.

(4) Sell 15.000 bottles of Beta to an enterprises H located in processing zones Linh Trung with the price of 2 USD/bottle. The exchange rate for tax calculation was 22.000 dong/ USD. Requirements: Determine: 1) Tax payable at import 400 alcohols stage. 2) Tax payable, refundable or deductible (if any) at export stage. 3) Tax payable, refundable or deductible (if any) at stage of selling to its retailer. 4) Tax payable, refundable or deductible (if any) at stage of selling to enterprises H located in processing zone Linh Trung. 5) VAT payable at end of period. 6) Excise tax payable at end of period and excise duty refundable in the period. In which: -

Export tax rate is 2%.

-

Tax rate of import duty is 65%.

-

Excise duty of alcohol is 65%, and of Anpha alcohol is 25%.

-

Value added tax is 10%.

-

Total value added tax was deducted in period was 50.2 million dong.

-

Import taxable value calculation according to the first method.

ANSWER: 1. Import tax payable 270*300.000*65% = 52.650.000 VND

Excise duty payable (270*300.000+ 52.650.000)*65%= 86.872.500 VND Input value added tax ( VAT) (270*300.000+52.650.000+86.872.500)*10%= 22.052.250 VND 2. FOB=CIF – (I+F) =30.000*(33.600 – 1.200)= 972.000.000 VND Export tax payable 972.000.000*2%=19.440.000VND Import tax refund = (52.650.000/60.000)*30.000 = 26.325.000 VND Excise duty refund (86.872.500/60.000)*30.000 = 43.436.250 VND 3. Excise duty payable

37 .500 ∗25 % = 75.000.000 VND 10.000* (1+ 25% ) Deductible excise duty (86.872.500/60.000)*10.000 = 14.478.750 VND Output VAT 10.000*37.500*10% = 37.500.000 VND 4. Export duty payable (15.000*2*22.000)*2% = 13.200.000 VND Import tax refund (52.650.000/60.000)*15.000 = 13.162.500 VND Excise duty refund =(86.872.500/60.000)*15.000 = 21.718.125 VND VAT = 0 5. VAT payable = Output VAT – input VAT is deductibled = 37.500.000 – 50.200.000 = - 12.700.000 VND Excise duty payable

75.000.000 - 14.478.750 = 60.512.250 VND Excise duty refund = 43.436.250 + 21.718.125= 65.154.375 VND Conclusion Import duty payable: 52.650.000 VND Import duty refund: 26.325.000 + 13.162.500 = 39.487.500 VND Excise duty payable in term: 60.512.250 VND Excise duty refund : 65.154.375 VND Export duty payable: 19.440.000 + 13.200.000 = 32.640.000 VND VAT payable: - 12.700.000 VND Excise duty payable import: 86.872.500 VND Input VAT in import: 22.052.250 VND

Exercises 13: A company specializing in beverage production. The two main products of the company are soft drink and light wine, in January /20xx, there were some transactions arising as followed: 1. Goods purchase: ( 1 ) Import Bactericidal system with CIF price of 5 billion dong, the rate of import duty of 1%. ( 2 ) Buy food coloring from a food processing corporate to produce soft drink with price of 3 billion dong, the tax rate import duty of 20 %. ( 3 ) Import over 40° wine for being raw materials for alcohol production , the quantities of imported products are 20,000 liters, with CIF price : 25.000 VND / liter; the tax rate of import duty was 65 %. ( 4 ) Buy of flavoring in domestic market to produce soft drink and wine, the total purchasing price: 15 billion dong, value added tax: 1.5 billion dong. The percentage of flavoring to produce soft drink was 70% .

( 5 ) Purchase the raw materials in domestic market to produce alcohol, the total purchase price: 5 billion dong , value added tax: 0.5 billion dong . 2. Production From the raw materials mentioned above, the company produced 440,000 boxes of soft drink and 280,000 bottles of 15 °wine. 3. Sale ( 1 ) Sell 220,000 boxes of soft drink for a food processing firm with price of 35,000 VND / boxes and 70,000 bottles of soft drink with price of 150,000 / bottle. ( 2 ) Export abroad 55,000 boxes of soft drink and 35,000 bottle of wine . Soft drink export ,according to FOB conditions, valued 34,000 VND/box. Wine export, according to CIF condition, was 153,000 VND/ bottle, including charges shipment and international insurance of 3,000 VND / bottle. ( 3 ) Sell for a domestic trade company 35,000 bottles of wine with price indicated on the invoice was 93,750 d/bottle Calculate the tax payable at import stage, export duty, excise, added value tax, the tax refund (if any). Given that the tax rate of VAT is 10%, export tax is 2%, excise duty wine 40° is 50% and wine 15° is 25 % . Imported taxable price is determined according to the first method.

ANSWERS: 1. Import tax = 5000 million x 1% = 50 million Value added tax input deduct = (5000 + 50) x 10% = 505 million 2. Import tax = 3000 x 20% = 600 Value added tax = (3000 + 600) x 10% =360 3. Import tax = (20000 x 0,025.000 x 65%) = 325 Excise duty = [(20000 x 0,025.000) + 325] x 50% =412

Value added tax = [(20000 x 0,025.000) + 325 + 412] x 10% =123,75 4. Value added tax input deduct = 1,5 million 5. Value added tax = 0,5 million II. 1. Export tax = (220000 x 0,035000 x 2%) + (70000 x 0,150000 x 2%)= 364 Import tax refund = [

600 325 × 70000) = 111,25 x 22000 ] + ( 440000 280000

Excise duty refund =

412 x 70000 = 103 440000

2. Export tax = (55000 x 0,034000 x 2%) + (35000 x 0,15 x 2%) =142,4 Import tax refund = (

600 × 55000) + ( 440000

Excise duty refund =

412 x 35000 = 51,5 280000

3. Excise duty tax = 35000 x

325 x 35000) = 115,625 280000

93750 x 25% = 656250000 1+25 %

Value added tax input = 35000 x 93750 x 10% = 328,125 Excise duty deduct =

412 × 35000 = 51,5 280000

Value added tax payable = 328,125 – (505 + 300 + 123,75 + 1500 +500) = -2600.625 Excise duty payable = 656250000 – 51,5 = 65625 Excise duty refund = 103 + 51,5= 154,5...