EXCISE TAX HOMEWORK Họ & tên SV: …………………………………………………………………………… MSSV : ……………………………………………………………………………… Exercise 1: Hoang Tuan Corporation has been produced goods subject to excise tax In December 2017, the store sold 1,500 units with the price of 1,200,000 VND/unit (VAT excluded) Requirement: Calculate excise tax payable? Assuming the excise tax rate was 50% Exercise 2: Hoang Hai Company imported 5,000 units of product A subject to excise tax with CIF price of 54USD/unit, the currency exchange rate was 20,000VND/USD Requirement: Calculate excise tax payable? Assuming that the excise tax rate was 35%, the import tax rate was 10% Exercise 3: An Loc Corp had the following transactions in December 2017: Importing 1,000 liters of raw liquor with CIF price of 30,000 VND/liter to produce 200,000 bottles of wine, import tax rate was 65% Exporting 150,000 bottles with FOB price of 200,000 VND/bottle Selling 1,000 bottles to a company in Vietnam with price of 220,000 VND/bottle (exclusive VAT) Requirement: Calculate excise tax, import tax and export tax payable Assuming that the excise tax rate of wine was 65%, the export tax rate was 2% Exercise 4: Thang Long Tobacco Factory had the following transactions in December 2017: Importing tobacco raw material to produce cigarettes with the total value at CIF price of 20.000.000.000 VND Later, Thang Long used 60% of tobacco raw materials to produce 500,000 packets of cigarette Exporting all 500,000 packets of cigarette with CIF price of 150,000 VND/packet Requirement: Calculate excise tax, import tax and export tax payable Assuming that the excise tax on tobacco raw material was 55%; Export tax on cigarette was 2%; Import tax on tobacco raw material was 30%; Shipping and insurance cost was 2% of CIF price Exercise 5: A domestic Business in the first quarter of 2017 had the following business transactions: Purchasing 100,000 parkets of cigarette with the price of 100,000 VND/parket from a domestic company for exporting under the signed contract However, 50,000 parkets of cigarette could not export due to poor quality and the Bussiness had to consumed domestically at a selling price of 140,000 VND/parket Importing 200 units of air-conditioner with FOB price of 300 USD/unit, international shipping and insurance costs was 1,200 USD Later, the Bussiness sold 120 units at 12,000,000 VND/unit Requirement: Calculate excise tax and import tax payable Assuming that the export tax for cigarettes was 5%, the excise tax for cigarettes was 45%, the excise tax for air conditioner was 15% Import tax was 35%, currency exchange rate was 20.000VND/USD Exercise 6: Quoc Cuong Company imported 20,000 liters of raw liquor with a CIF price of 50,000VND/liter, import tax rate of 50%, excise tax of 40% Later, the Company took 15,000 liters of raw liquor out of the warehouse to produce 30,000 bottles of wine Then: - Exporting 15,000 bottles with FOB price of 200,000 VND/bottle (Export tax rate is 15%) - Selling 12,000 bottles to An Thinh Company with the price without VAT of 150,000 VND/bottle Requirement: Calculating the excise tax payable?