Revision for Final Exam
1. XYZ is VAT deduction method trading company with total sales of the month from Sep 1st2015 to 30th Sep
2015 amounting to VND 440 million. The total sale figure includes VAT charged to the purchasers where
applicable.
Included in the sales was VND200 million of export sales. The company satisfies all required documents/
procedures for the export.
Proceeds from disposal of a fixed asset is VND44 million, inclusive of VAT, and was not included in the total sale
figure. The fixed asset was subject to 10% VAT on purchase.
In the same period the company had the following purchases (inclusive of VAT and purchasedfrom VAT deduction
method tax payers unless otherwise mentioned).
VND’ mil
Purchase of goods for trading 200
Computers from VAT direct method tax payer 22
Office stationery 10
Electricity 27.5
Salary 70
4 seats car under the General Director’s name 550
Company’s goods are subject to 10% VAT rate.
Required:
