In the tax period, Red Co., who apply credit method, purchased goods and services for production product C, which is taxable and product D, which is an exempt item. Total VAT input written on added value invoices legible VND 50,000,000, in which for C is VND 20,000,000, for D is VND10,000,000. The company cannot separate the remain input tax for each item. Turnover of selling product C in the period is VND 400,000,000, product D is VND 100,000,000. The deductible input VAT amount is: * VND 50,000,000
In the tax period, Red Co., who apply credit method, purchased goods and services for production product C, which is taxable and product D, which is an exempt item. Total VAT input written on added value invoices legible VND 50,000,000, in which for C is VND 20,000,000, for D is VND10,000,000. The company cannot separate the remain input tax for each item. Turnover of selling product C in the period is VND 400,000,000, product D is VND 100,000,000. The deductible input VAT amount is: * VND 50,000,000
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter16: Multijurisdictional Taxation
Section: Chapter Questions
Problem 5CE
Related questions
Question
In the tax period, Red Co., who apply credit method, purchased goods and services for production product C, which is taxable and product D, which is an exempt item. Total VAT input written on added value invoices legible VND 50,000,000, in which for C is VND 20,000,000, for D is VND10,000,000. The company cannot separate the remain input tax for each item. Turnover of selling product C in the period is VND 400,000,000, product D is VND 100,000,000. The deductible input VAT amount is: *
VND 50,000,000
VND 40,000,000
VND 36,000,000
VND 20,000,000
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you