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Other Percentage Tax Exercises c. 2,034 d. 9.876

1. A tax on business is 7 to 8
a. Direct tax b. Indirect tax Rustico owns a small eatery near a
c. Property tax d.None of the trimobile parking area. Its annual gross
above receipts range from 400,000 to 450,000. In
2. Which of the following taxes is not January, the gross receipts amounted to
replaced by VAT? 27,500 while purchases of goods subject to
a. Common carriers tax VAT is 6,000 and not subject to VAT, 13,000.
b. Sales tax on original sales 7. If Rustico is not a VAT registered
c. Contractors tax taxpayer, his percentage tax due for
d. Compensating tax the month is
3. Given the following establishments: a. 12,000 b. 1,900
I. Cebu Pacific Air c. 825 d. 2,500
II. Pegasus nightclub 8. Assuming that rustico is a VAT
III. Camarines Sur III Electric registered taxpayer and the amounts
Cooperative (CASURECO III) indicated are exclusive of VAT, the VAT
IV. Banco de Oro (Unibank) due is
Which of the above establishments a. 12,000 b. 1,900
is/are subject to other percentage tax? c. 2,580 d. 2,500
a. II only 9. One of the following is subject to
b. II and III common carriers tax
c. III and IV a. Autocalesa
d. II and IV b. Carrier which transports its own
4. One of the following is subject to 3% cargo
percentage tax c. Owners of banca
a. Establishment whose annual gross d. Trimobile/tricycle
sales or receipts exceed 1,500,000 10.All of the following, except one, are
and who are VAT registered. not subject to common carriers tax
b. Business whose annual gross a. Owner of a parking lot/building
receipts or sales exceed 1,500,000 b. Rent-a-car companies
and who are not VAT registered. c. Common carriers by land engaged
c. VAT registered establishments in carriage of goods or cargo
whose annual gross receipts do not d. Airline companies
exceed 1,500,000 11.Gadil operates 2 pedicabs, 2
d. Establishments whose annual gross passenger jeepneys plying the route
sales do not exceed 1,500,000 and Divisoria-Morayta in Manila, and three
who are not VAT registered. cargo trucks. The gross receipts for
5. Maurot owns the following the month are:
business/establishments: Jeepney 22,0 Truck 7,25
Annual Gross No. 1 00 No. 1 0
receipts Jeepney 23,3 Truck 8,50
I. Restaurant 1,350,000 No. 2 00 No. 2 0
II. Barbershop 625,000 Pedicab 800 Truck 14,0
III Seller of 1,875,000 No. 1 No. 3 00
. Agricultural food Pedicab 1,00
products No. 2 0

Which combination will subject Maurot The percentage tax due on Gadil is
to VAT? a. 831 b.795
a. I only b. I and II c. 1,359 d. 1,413
c. I, II and III d. None 12.Malakas owns two passenger buses.
6. Tin is the owner of a small grocery Each bus has a seating capacity of 45
store with gross sales in any one year passengers. The buses ply the route
period that do not exceed 1,500,000. Naga City to Legaspi City, and vice
She is not a VAT registered taxpayer. versa. During the month, he decided
She submits the following data for the to stop the operation of one unit to
month of January, 2008. undergo two weeks engine overhaul.
Merchandise Inventory, Dec 123,4 Thus, his total gross receipts during
31, 2007 50 the month amounted to 110,000 only.
Gross sales 67,80 Malakas is-
0 a. Subject to income tax but exempt
Purchases from VAT registered 156,9 from percentage tax
suppliers 80 b. Subject to value-added tax if the
gross annual receipts exceed
The percentage tax due is 1,500,000.
a. 34,823 b. 6,780
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c. A marginal income earner and 0


therefore, exempt from common Jeepney 22,00
carriers tax and VAT 0
d. Subject to common carriers tax of Cargo Truck 45,00
3,300 0
Sea Vessel 250,0
No. 13-14 00
Salawahan Transport Company is a
transportation contractor. During the During the month, Bus 1 was bumped
month, it had the following gross by another bus owned by Tulak Lines
receipts: and paid Luigi Lines P20,000 for the
From transport passengers 485,0 damage done.
00
From transport cargo 220,0 16.The percentage tax due on Luigi Line
00 in February is:
From rental of its cargo-trucks 33,00 a. 6,180 b. 6,165
to individual lessees 0 c. 14,430 d. 5,730
From rental of its rent-a-car 30,00 17.The output tax on Luigi Lines is
tp balikbayans (with chauffer 0 a. 37,380 b. 31,150
c. 33,375 d. 36,780
Payments to VAT registered persons 18-19
during the month amount to 99,000. Love Bus Company operates 10 units
13.The percentage tax due is of buses. During the month, it had the
a. 22,740 b.21,150 following data in its books:
c. 7,590 d. 15,450 Receipts from passengers 2,000,0
14.Assuming that the amounts given do 00
not include the tax, the VAT due is- Receipts from cargoes 500,00
a. 23,000 b.18,480 0
c. 59,909 d. None Receivable from transport of 15,000
15.Sako Company is a holder of a passengers
franchise to operate five units of Receivable from transport of 5,000
passenger buses (seating capacity is cargoes
44 passengers) in the Bicol Region. It Payments for repair of 30,000
also owns a gas station which is used transport units
exclusively to load its buses with Salaries of personnel 300,00
diesel fuels, and a garage with service 0
shop exclusively to its own buses Purchase of spare parts 60,000
although in rare instances it is Registration with LTO 10,000
accepting repair jobs from outsiders. Premiums on insurance 15,000
During the month of December, it had
the following gross receipts: 18.How much is the percentage tax
From the buses 280,0 payable
00 a. 60,000 b. 60,450
From the gas station (in 300,0 c. 39,000 d. None
loading its own buses) 00 19.How much is the VAT payable
From the garage 12,00 a. 39,600 b. 43,800
0 c. 39,000 d. 57,480
20.Common Carrier 1 : Domestic sea or
How much is the common carriers tax air carriers for passengers or cargoes.
payable? Common Carrier 2 : International sea
a. 17,760 b. 8,400 or air carriers for passenger or
c. 8,760 d. 17,400 cargoes.

16-17 What is the respective business tax


Luigi Lines, engaged in provincial rate on the common carriers identified
operation, has the following gross above if they travel from the
receipts in February: Philippines to a foreign country?
Bus 1 (carriage of goods, 100,0
8,000) 00 Common Common
Bus 2 (carriageof goods, 65,00 Carrier 1 Carrier 2
3,500) 0 a 0% 3%
Salaries of drivers and 25,00 .
conductors 0 b 3% 3%
Cost of oil and engine 160,0 .
00 c 0% 0%
Taxi 30,00 .
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d 12% 3% bills 00
. Domestic calls 501,6
00
21.The franchise tax on grantees of radio Overseas calls 533,5
and television broadcasting companies (outgoing) 00
whose annual gross receipts in any
year do not exceed 10,000,000 shall The percentage tax to be remitted by
be BATELCO during the quarter is
a. 1% of gross receipts a. 73,600 b. 48,500
b. 2 % of gross receipts c. 53,350 d. 80,960
c. 3 % of gross receipts
d. 4 % of gross receipts 28-30
Makasalanan Corporation had the
22-23 following data during the month of
February:
Radio Station DWLAA has an annual Net income during the month 40,00
gross receipts ranging from 4,000,000 0
to 5,000,000. During the month, it had Collections during the month
a gross receipts from advertisements From services rendered in 50,00
of 330,000 (net of tax), while the Jan 0
disbursements subject to VAT From services rendered in 300,0
amounted to 224,000, inclusive of tax Feb 00
22.The franchise tax payable by DWLAA From services to be 10,00
is performed in march 0
a. 30,000 b. 9,900 (advances)
c. 50,000 d. 10,000
23.How much s the VAT payable if it is 28.The business tax payable if
registered under the VAT system? Makasalanan is a bus company:
a. 10,000 b. 9,900 a. 12,000 b. 22,800
c. 11,357 d. 15,600 c. 10,800 d. 21,000
29.The business tax payable if
24-25 Makasalanan is a cabaret:
Too Big Company, a public service a. 64,000 b. 64,800
company, is a holder of a franchise to c. 72,000 d.136,800
engage in the business of supplying 30.The business tax payable if
water to several towns and cities in Makasalanan is a race track:
Luzon. As recorded in its books during a. 120,000 b. 228,000
the month, its total gross receipts from c. 210,000 d. 108,000
the sale of water amounted to 31.Admission fees to cockpits and race
2,550,000, while the receipts from tracks are subject to
rental of equipments and other a. Tax on paid admission
services was 280,000. The operating b. Tax on winnings
expenses amounted to 2,000,000; c. Tax on gross receipts
11% of which was paid to VAT d. None of the above
registered persons.
24.The percentage tax due is 32-35
a. 51,000 b. 5,000 Rose Tear operates a cockpit in
c. 16,500 d. 56,500 Zamboanga City. Inside the cockpit is
25.The VAT payable for the month is a restaurant which she operates. The
a. 33,600 b. 5,000 data during the month are as follows:
c. 16,500 d. 7,200 Gross receipts from the gates 390,0
26.One of the following is subject to 00
percentage tax Receipts from advertisements 15,00
a. Long distance call by a son from inside the cockpit arena 0
Sta. Cruz, Manila to his father in Ilo Gross receipts from
Ilo City restaurant:
b. Monthly telephone bill from PLDT
Sale of food and softdrinks 21,00
c. Telephone bill on a call by a mother
0
in the Philippines to her son in the
Sale of liquor 33,00
United States.
0
d. Telephone call by Magda in Hong
Disbursements (subject to 24,20
Kong to her friend in Manila.
VAT) 0
27.Balatan Telephone Company
(BATELCO) had the following Disbursements (not subject 12,00
collections from its customers during to VAT) 0
the quarter:
Regular monthly 770,0 32.The amusement tax due is
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a. 82,620 b. 81,828 Concert by Chabel 85,00


c. 72,900 d. 19,980 Balyeno 0
33.Suppose the restaurant is owned and Professional 120,0
operated by Mon, a non VAT registered basketball 00
person, the business tax payable by Amateur basketball 36,70
Mon is 0
a. 1,260 b. 534 Billiard 45,00
c. 4,909.09 d. 1,620 0
34.Suppose the restaurant is operated by
Mon, the percentage tax due on Rose The percentage tax payable by Boy
is Cali on the Coliseum is
a. 3,300 b. 12,150 a. 18,000 b. 23,505
c. 92,700 d.72,900 c. 43,005 d. 24,750
35.Assume that Mon, a VAT registered 40.In number 39, assuming that other
taxpayer is operating the restaurant. than the enumerated events therein a
The business tax payable by Mon is world championship boxing fight
a. 81,600 b. 3,576 between Namacquiao and Nakoto,
c. 4,909.09 d. 2,709.09 American and Mexican, respectively,
36.Carlos operates the El Combo in light weight division was held in Cali
Nightclub along Malate Avenue, Coliseum during the month and the
Palayan City. His gross receipts in total gross receipts was 780,000, the
February 2008 amounted to 126,700. total amusement tax payable is
The foods and drinks being served a. 135,000 b. 96,000
inside the nightclub are being c. 43,005 d. 160,005
delivered by Tiberio, a nonVAT 41.Paiyakan Insurance Company, a
taxpayer. During the month, Tiberio domestic corporation, had the
sold 32,400 worth of goods and drinks following collections from insurance
to Carlos. premiums during the month:
Health and accidental 2,340,0
The amusement tax payable is insurance 00
a. 19,005 b. 22,806 Motor Vehicle insurance 1,250,0
c. 28,638 d. 5,832 00
Life and disability 1,850,0
37-38 insurance 00
Property insurance 2,840,0
Sogo Hotel offers the following 00
services to its guests and from which
revenues were derived for the month, The percentage tax due is
as follows: a. 92,500 b. 414,000
Revenu Collectio c. 272,000 d. 209,500
es ns
Hotel rooms 1,250,0 984,000 42-43
00
Dining Hall: Madulag Insurance Company had the
Sale of foods 940,00 860,000 following data on collections of
and refreshments 0 premiums and disbursements during
Sale of wine, 780,00 620,000 the month:
beer and liquors 0 Life Non life
Disco: insuranc insurance
Admission fee 25,000 15,000 e
Sale of foods 250,00 115,000 Cash collections 150,000 145,700
and drinks 0 Checks 45,000 34,600
Sale of wines , 650,00 540,000 Accounts 25,200 58,900
beer and liquor 0 receivable

37.The amusement tax due is Payments of 43,000


a. 110,700 b. 120,600 expenses to VAT
c. 552,240 d. 386,640 businesses
38.If Sogo Hotel is subject to VAT, the Payments of 35,000
output tax thereon is (assume that the expenses to
amounts are tax inclusive) nonVAT
a. 295,680 b. 264,000 businesses
c. 218,000 d. 120,600
39.Boy Cali is the operator of Cali The amounts indicated pertaining to
Coliseum. During the month, it had the VAT transactions do not include the
following gross receipts from various VAT.
activities, to wit:
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42.The percentage tax due is he decided to sell the shares to the


a. 8,000 b. 9,750 public. The data of which are as
c. 11,010 d. 9,015 follows:
43.The VAT payable is Selling Cost Gain/Lo
a. 16, 476 b. 9,750 Price ss
c. 28,704 d. 63,730 Yabs 230,00 220,0 10,000
44.Which of the following is not Corporatio 0 00
considered as a percentage tax? n
a. of 1% stock transaction on Besi 360,00 395,0 (35,000
shares traded through the local Corporatio 0 00 )
stock exchange n
b. 10% -20% tax on shares not traded
through the local stock exchange The stock transaction tax is
c. 10% overseas communication tax a. 2,950 b.1,150
d. 3% tax on keepers of garage c. 50 d. Zero
45.Bayanis ticket (daily double) won 49.Tol Corporation, a closely held
42,000, gross of withholding tax and corporation decided to open itself to
cost of ticket, in a horse race in Vice the public. The initial offering of its
Ganda Hippodrome. His ticket had cost shares had a selling price of 6,250,000
him 250. How much tax was withheld which is 22.5% of its total outstanding
on winnings in horse races by Bayani? shares after the listing in the local
a. 1,680 b. 4,200 stock exchange. The percentage tax
c. 1,670 d. 4,175 due is
46.Campos sold the following shares of a. 31, 250 b. 125,000
stock thru his stock broker: c. 1,406,250 d. 250,000
Selling Market 50.Gross receipts tax is business tax paid
Price Value by a
Ex Company, 123,670 114,850 a. Hotel operator
not traded b. Insurance Company
Way Company, 65,980 62,540 c. Franchise Holder
traded d. Bank
See Company, 143,750 156,230 51.Superbank has the following
traded income/loss for the months of March
and April:
The percentage tax due on the above
transaction is March April
a. 1,667 b. 1,048.65 Interest income 50,00 100,0
c. 1,093.85 d. 1,668.10 maturity of less than 0 00
47.Tiwala had the following transactions 5 years
of shares of stock: Rentals 50,00 50,00
0 0
Selling Cost Net trading gain/loss (10,00 20,00
Price 0) 0
Sales:
Stick-to-1 32,450 31,9 The gross receipts taxes payable for
Corporation, not 80 March and April, respectively
traded a. 5,000;8,500 b.
Di-Man-Lolo-Co 69,780 64,3 6,000;9,900
Corporation, traded 21 c. 6,000;9,200 d.
Di-Flirt Corporation, 123,820 98,7 5,300;9,200
traded 60 52.An offering of shares to the investing
public subsequent to an initial public
Purchases: offering
Titig Corporation, 32,4 a. Secondary offering
not traded 15 b. Primary offering
Kilig corporation, 48,6 c. Follow on/ Follow through offering
traded 57 d. Follow up offering

The total percentage tax on the above 53-58


transaction is Bosz Corporation, a closely held
a. 1,130.25 b. 724.89 corporation, has an authorized capital
c. 968.00 d. 815.40 stock of 1,000,000 shares with par
48.Mahal owns shares of stock of value of 1.00/share as of Jan 1, 2008.
domestic corporations which are Of the 1,000,000 authorized shares,
actively traded in the PSE. Due to the 250,000 thereof is subscribed and fully
unstable prices in the stock exchange, paid up by the following stockholders:
Mars 50,00
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0 c. 15,000 d. 7,500
Beh 50,00 55.Who is the taxpayer as far as the IPO
0 in the local stock exchange of closely
Yabidabs 50,00 held corporations is concerned?
0 a. The purchaser of shares of stock
Yeepeeh 50,00 offered in the IPO
0 b. The corporate issuer
Kulasa 50,00 c. The corporate purchaser
0 d. The local stock exchange
Total shares 250,0 56.If the shares of Yabidabs were also
outstanding 00 offered at 1.50 per share, how much is
the total tax on the IPO?
Bosz Corporation finally decides to a. 3,000 b. 3,750
conduct an IPO and initially offers c. 6,750 d. None
250,000 of its unissued shares to the 57.If in June 2008, Bosz Corporation again
investing public. After the IPO in March decides to increase capitalization by
2008, Bosz Corporations total issued offering another 30,000 of unissued
shares increased from 250,000 to shares to the public at P2/share, such
500,000. follow on/follow through shall be
exempt from
At the IPO, one of the existing a. Percentage tax and documentary
shareholders, Yabidabs, has likewise stamp tax
decided to sell his entire 50,000 to the b. Documentary stamp tax but not
public. percentage tax
53.How many shares have been offered in c. Percentage tax but not
the primary offering? In the secondary documentary stamp tax
offering? d. Neither percentage tax nor
a. 1,000,000; 250,000 b. 250,000; documentary stamp tax
50,000 58.In case Yeepeeh decides to offer his
c. 250,000; 550,000 d. 250,000; existing 50,000 shares to the public
300,000 subsequent to IPO at P2/share, the
54.If the shares were offered at 1.50 per percentage tax shall be
share, how much is the tax due on the a. 25
primary offering? b. 500
a. 3,750 b. 6,750 c. 300
d. 4,000

True or false
1. A small business enterprise with a gross receipts of not exceeding 1.5 million may be
taxed at 12% (VAT) or 3 % (non-vat) at the option of the taxpayer.
2. Clubs and caterers are subject to amusement tax.
3. A radio station with an annual gross receipts of 2,000,000 but voluntarily subjects itself
to VAT can never cancel its registration and revert back to Franchise Tax even if it later
on decides to abandon VAT.
4. Taxpayers which are subject to other percentage taxes are generally required to file its
tax return within 20 days after the end of each month.
5. The sale of listed and traded shares of stocks after the initial public offering is exempt
from business tax.
6. The 30% amusement tax on jai alai has been abolished when the fronton has been
ordered closed by the government.
7. Pedicab (padyak) operators, being engaged in the carriage of passengers, are subject
to common carriers tax.
8. The term gross annual sales has no relation to profit; it means actual sales without
deduction of expenses.
9. The term gross annual sales includes cash sales and credit sales less sales returns,
allowances and discounts
10.When the restaurant is maintained within the premises or compound of a night club,
the gross sales of such restaurant is subject to VAT.
11.The gross sales of a bar inside a passenger ship is subject to amusement tax of 18%.
12.Service charge which nightclubs collect from their customers, and represented as
charges in lieu of cash tip to the employees are included in the term gross receipts
which are subject to amusement tax.
13.If there are vending machines installed by coca-cola inside the premises of race tracks,
the sales affected in the vending machines shall be subject to Amusement tax of 30%.
14.The gross receipts of a bank which operates a canteen where foods are served at
subsidized prices exclusively to its employees is subject to Tax on banks
notwithstanding the fact that the canteen is operated on a non-profit basis.
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15.A private carrier which undertakes to deliver goods at a particular place without being
bound in law to undertake such transportation and does not bind himself out to the
public is subject to 3% common carriers tax.
16.The commission of bus drivers and conductors are not deductible in computing gross
receipts.
17.Trimobiles are not covered by the minimum monthly gross receipts on common
carriers.
18.When preferred shares are redeemed for cancellation or retirement when the
corporation is still in its going concern the capital gain shall be subject to regular
income tax rates.
19.The wash sale provision does not apply in the case of dealer in stock if the sale or other
disposition of stock is made in the ordinary course of business of such dealer.
20.Amounts paid for messages transmitted by an Embassy to their own country are
exempt from Overseas Communication Tax.
21.The 5% Premium Tax on insurance company is based on gross premiums received less
returned premiums and reinsurance premiums ceded.
22.The gross receipts of a cabaret does not include the dance fee that is charged by
cabaret as compensation for its bailarinas.
23.The stock transaction of of 1% is payable by the seller of the stocks even if he
suffers loss on the sale.
24.For purposes of IPO tax, the term closely held corporation means any corporation at
least 50% in value of the outstanding capital stock or at least 50% of the total
combined voting power of all classes of stock entitled to vote is owned directly or
indirectly by or for not more than five individuals.
25.Excise tax as a classification of tax is the same as the excise tax o business.

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