3 (a) Company X built a five-floor office building by itself for its own use at a total cost of RMB 20,000,000. After
completion, Company X changed its mind and sold the first two floors of the building to outsiders for
RMB 15,000,000.
Required:
Calculate the business tax (BT) payable by Company X as a result of the above transactions, if the deemed
profits rate is 30%. (4 marks)
(b) During the month of May 2008, Company A carried out the following transactions:
Imported 100 motor cycles at RMB 30,000 each and since it could not provide the supporting documentation
required, the Customs deemed that the related transportation cost and insurance expenses were 2% and 0·3%
respectively. It paid RMB 20,000 to transport the motor cycles from the port to its warehouse. It sold 50 of the
motor cycles at RMB 60,000 each (including VAT) during the month and took one motor cycle for the company’s
own use as a fixed asset.
Subcontracted some domestic raw materials valued at RMB 100,000 to an overseas company. The related fee
and transportation cost were RMB 20,000 and RMB 5,000 respectively.
Sold a used bonded fixed asset to one of its customers for RMB 200,000. The original cost of the asset which
was imported duty free three years ago was RMB 500,000.
Required:
Calculate the customs tariff, consumption tax (CT) and value added tax (VAT) payable by Company A for the
month of May 2008.
Note: you should assume that:
(1) The tariff for all kinds of imported goods is 20%.
(2) The rate of consumption tax (CT) is 10%.
(3) The bonded period for all kinds of fixed assets is five years. (13 marks)
(c) State the timelimits (deadlines) for the reporting and payment of value added tax (VAT) for a taxpayer with:
(i) an assessable period of one month; and (1 mark)
(ii) an assessable period of less than one month. (2 marks)
(20 marks) 3 (a) (1) Self-built and self-used buildings are exempt from business tax (BT). 1·0
(2) When sold, the two floors are subject to BT at 3%.
The composite value of the two floors is 20,000,000 x (2/5) x (1 + 30%)/(1 – 3%) = 10,721,650
BT for the construction activity is 10,721,650 * 3% = RMB 321,650 2·0
(3) BT is also chargeable on the sale of immovable property at 5%: 15,000,000 x 5% = RMB 750,000 1·0
Total BT = 750,000 + 321,650 = 1,071,650.
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4·0
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(b) Company A: customs tariff, consumption tax (CT) and value added tax (VAT) for the month of May 2008
(1) For importation:
Composite value for tariff = 100 x 30,000 x (1·02) x (1·003) = RMB 3,069,180 1·0
Customs tariff = 3,069,180 x 20% = RMB 613,836 0·5
Composite value for CT and VAT = (3,069,180 + 613,836) = RMB 3,683,016 1·0
CT = 3,683,016 x 10% = RMB 368,302 0·5
VAT = 3,683,016 x 17% = RMB 626,113 0·5
(2) For subcontracting goods:
Composite value for subcontracting goods = 20,000 + 5,000 = RMB 25,000 1·0
Customs tariff = 25,000 x 20% = RMB 5,000 0·5
Composite value for VAT = (25,000 + 5,000) = RMB 30,000 1·0
VAT = 30,000 x 17% = RMB 5,100 0·5
(3) For used machine:
Taxable period = five years – three years = two years 1·0
Customs tariff = 500,000 x (2/5) x 20% = RMB 40,000 1·0
(4) For the sales activity:
Output VAT = 60,000/(1 + 17%) x 17% x 50 = RMB 435,897 1·0
Input VAT for 100 motor cycles = 626,113 + 7% of 20,000 = RMB 627,513 1·0
Input VAT for the self-used motor cycle to be transferred out = 627,513/100 = RMB 6,275 1·0
Total input VAT = 627,513 – 6,275 + 5,100 = RMB 626,338 0·5
VAT payable for the month is Nil because 435,897 – 626,338 = RMB (190,441) 0·5
The excess input tax of RMB (190,441) is carried forward. 0·5
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13
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(c) Taxpayers with a one month assessable period must report and pay the VAT due within ten days following
the end of the month (period). 1·0
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For assessable periods of less than a month (one day, three days, five days, ten days and fifteen days), the
VAT due must be prepaid within five days following the end of the period and a monthly return filed within
ten days from the first day of the following month together with the balance of tax due (if any). 2·0
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20
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发表于 2008-10-11 14:13
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