OTHER PERCENTAGE TAXES

IDENTIFICATION OF BUSINESS TAX PAYABLE

1. Value-added tax
2. Value-added tax
3. VAT on office supplies; Exempt on
books
4.
5.
6.
7.
8.
9.
10.

11. Value-added tax

12. Value-added tax
13. Value-added tax

Value-added tax
Common carriers tax
Value-added tax
Value-added tax
Value-added tax
3% Non-VAT
Exempt

14.
15.
16.
17.
18.
19.
20.
21.
22.

Premium Tax
Value-added tax
Amusement tax
Gross Receipts Tax
Value-added tax
Value-added tax on local calls
Value-added tax
Amusement Tax
VAT on sale of school & office

supplies; Exempt on sale of books

23. Value-added Tax
24. Value-added tax
25. Franchise Tax/VAT

TEST 2. MULTIPLE CHOICE

1.

6.

11.

16.

21.

26.

2.

7.

12.

17.

22.

27.

3.

8.

13.

18.

23.

28.

4.

9.

14.

19.

24.

29.

5.

10.

15.

20.

25.

30.

TEST 3 MULTIPLE CHOICE

1.

Answer: A

2.

Answer: D

3.

Answer: C

4.

Answer: C

5.

Answer: D

Answer: D

7.

Answer: A

89

8.

Answer: D

9.

Answer: C
Prior periods
Current period
Succeeding period
Gross receipts
Rate of tax
Common carriers tax

1
0

P 50,000
300,000
10,000
360,000
3%
10,800

Answer: B

Gross receipts
Rate of tax
Amusement tax
1
1

P 360,000
18%
64,800

Answer: D

Gross receipts
Rate of tax
Amusement tax
12.

P 360,000
30%
108,000

Answer: C
Gross sales
Rate of tax
Percentage tax

13.

Answer: A

14.

Answer: A

P 67,800
3%
2,034

Gross receipts (P371,250 / 99%)

Multiply by
Value-added tax
15.

P 375,000
3/28
40,179

Answer: B
Jeepney No. 1
Jeepney No. 2
Jeepney No. 3
Jeepney No. 4
Gross receipts
Rate of tax
Common carrier's tax

26,000
22,300
21,900
21,900
92,100
3%
2,763

90

1
6

Answer:

Gross receipts (minimum) (54,733 x 3)

Rate of tax
Common carrier's tax
1
7

Answer: A

Gross receipts
Rate of tax
Percentage tax
1
8

P 125,000
3%
3,750

Answer: C

Gross receipts
Multiply by
Value-added tax
19

P125,000
12%
15,000

Answer: D
December
Rate of tax
Franchise tax

20

430,000
2%
8,600

Answer: C
Output tax (P660,000 x 3/28)
Less: Input tax
VAT payable

21

Answer: C

22

Answer: A

P 70,714
37,200
33,514

Gross receipts
Rate of tax
Franchise tax
23

Answer: C

24

Answer: A

P 500,000
3%
15,000

Amount indicated in the bill

Percentage of overseas calls
Bill on overseas calls
Divide by
Overseas communication tax
2
5

P 164,199
3%
4925.97

P 4,000
25%
1,000
11
90.91

91

Operation
Sale of food and softdrinks
Sale of liquor
Gross receipts
Rate of tax
Amusement tax
26.

P 450,000
65,000
72,000
587,000
18%
105,660

Answer: C
Sale of food and softdrinks
Sale of liquor
Gross receipts
Rate of tax
Percentage tax

27.

P 65,000
72,000
137,000
3%
4,110

Answer: C
Operation of cockpit
Rate of tax
Amusement tax

28

P 450,000
18%
81,000

Answer: B
Total collections
Less: Bouncing check (P125,000 x 25%) x 10%
Base
Rate
Percentage tax

29

Answer: C
Entrance fee
Foods and drinks
Bar fines
Rental
Gross receipts
Rate of tax
Amusement tax

30

P 45,000
460,000
30,000
18,000
553,000
18%
99,540

Answer: C
Gates

P1,500,00
0
250,000
30,000
1,780,000
15%
267,000

Radio and television coverage

Lease of eatery
Gross receipts
Rate of tax
Amusement tax
31

P 125,000
3,125
121,875
5%
6,093.75

Answer: B
Admission fee

P 15,000

92

Sale of food and softdrinks

Sale of wines, beer and liquor
Gross receipts
Rate of tax
Amusement tax
32

115,000
540,000
670,000
18%
120,600

Answer: C
Gross sales
Rate of tax
Percentage tax

33

P 67,800
3%
2,034

Answer: A
Gross selling price
Rate of tax
Stock transaction tax

34

Answer: B

35

Answer: D

P 120,000
.005
600

93