Question

Alpha, a car manufacturer, pays VAT by the credit method. In the tax period, it has the following activities: (1) Importing 1,000 air conditioners with capacity of 9,000 BTU which are designed for installation in car only with CIF price of VND 10 million/air conditioner. In the tax period, Alpha used 400 air conditioners to produce cars. The remaining imported air conditioners was sold to domestic garages with price exclusive of VAT of VND 18 million/air conditioner. (2) Producing cars and selling transactions as follow: - Selling domestically 1,500 five-seat cars with price exclusive of VAT of VND 520 million/car - Selling 10 five-seat cars and 15 24-seat cars to enterprises in EPZs with price exclusive of VAT of 533 million/car and VND 650 million/car, respectively - Using 5 five-seat cars in a promotion accordance with regulations of Trade Law Requirements: Determine the amount of customs duty, excise duty, and VAT that enterprise Alpha must declare and pay in the period. Knowing that: - Import duty rate of air conditioner is 10% - Excise duty rate of car is 30%, of air conditioners is 10%. - The VAT rate is 10%. - VAT of other purchased goods to serve production and business activities in the period VND 15,000 million - Enterprises have full legal invoices and documents, payment via bank

Answer 1

Wel i can answer that but do you think 5 points is not enough for the answers it should be 10 points. Anyway here is the answer below :

Based on the given information, here's how you can calculate the customs duty, excise duty, and VAT that Enterprise Alpha must declare and pay in the tax period:

1. Importing air conditioners:

a) Customs duty:
- CIF value of 1,000 air conditioners: 1,000 x 10,000,000 = 10,000,000,000 VND
- Import duty rate: 10%
- Customs duty payable: 10,000,000,000 x 10% = 1,000,000,000 VND

b) Excise duty:
- Imported air conditioners used for production: 400 units
- Excise duty rate for air conditioners: 10%
- Excise duty payable: |

Answer 2

Answer: Enterprise Alpha must declare and pay VND 1,000 million for import duty, VND 96.44 million for excise duty, and VND 80,730 million for VAT in the period.

Explanation: