Question 1:

Ý 1 giống quizz, phân biệt zero-exempted

Ý2
Question 2:
Note 1: Sales
Doanh thu ghi nhận nhưng chưa nhận được tiền

Note 2: Of the Selling and distribution expenses

- VND 220 million depreciation expense for a 7-seat car which was purchased and used
for Marketing Department fom Jan 1st 2021 at purchased price VND 2,200 million
(excluding VAT). Stipulated duration of use is 10 years.
- VND 50 million special bonuses were granted to all employees on a special

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anniversary of the bank. These bonuses were not stipulated in any documents/policy
of the bank at the beginning of the year and were not based on performance.

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- Machinery equipment bought in 2018 with a historical cost of VND 1,300 million and
an estimated useful life of 5 years ceased to be used from 1 June 2020 for
maintenance. In 2020, ABC Co. expected that this maintenance would take 13 months
but the maintenance was in fact completed on 31 August 2021 and the machinery
equipment was put into use again from 1 September 2021. In the draft financial
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statements, this machinery was depreciated over 12 months on 2021

Note 3: Of the General and administration expenses

- VND 5million Penalties for late submission VAT declaration
- VND 100 million vacation trips for high performance employees in Phan Thiet.
Although only about 30% of these expenses were not supported by proper documents,
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the tax accountant considered it prudent to adjust for the whole of the expense
Note 4: Of Financial expense
- On 1 November 2021 ABC Co. entered into a 16% VND200milliom loan with the
General Director for the purchase of a 16 seat-car for business activities. The base rate
of interest announced by the State Bank of VietNam at that time was 8%. The car was
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not used in 2021, therefore the company decided not to depreciate in the year 2021.
Stipulated duration of use is 8 years
Additional information
- All amount are stated exclusive of any applicable vale added tax (VAT). except where
specially stated otherwise.
- Proper supporting vouchers/invoices are available for all items unless otherwise
stated.
- All amounts not described in notes are taxable/deductible in accordance with the
current tax regulations.

Question 3: LMN Co. is a VAT deduction method trading company which specialized in the
provision of customized hardware and software solutions for businesses, has the following
invoices and bills received or issued in the month of June 2023.
 Date of Date of Issued by Description VND Additional
invoice invoice VAT information
issued received exclusive

13/8/2023 2/9/2023 ABN Co. Purchase laptops for new 300mil Bank
employees transfer/VA
T invoice

7/6/2023 3/9/2023 LMN Co. Sold customized 150mil Cash

hardware to Sias Co., a receipt/VAT
company located in a invoice
non tariff zone for cash

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15/5/2023 4/9/2023 Nguyen Purchased 10 air 110mil Bank
Kim conditioner for using in transfer/VA

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office T invoice

16/9/2023 16/9/2023 THA Co. Purchase a 16 seat car 2bil 1.5bil

for employee transferred
transportation via bank,
500mil paid
NH
in cash/VAT
invoice

16/9/2023 16/9/2023 ONE Purchase accessories for 18mil Cash

Stationery employee use from ONE payment/sal
Stationery, a VAT direct es invoice
method taxpayer
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20/0/2023 22/9/2023 LMN Co. Used customized 300mil

hardware as bonus
payment for employees

20/9/2023 22/9/2023 LMN Co. A management software 200mil Bank

package is donated to transfer/VA
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SOS organization in T invoice

order to enhance their
management activities in
highland area

24/9/2023 24/9/2023 LMN Co. Sold customized 500mil Bank

software to CHA Co. transfer/VA
T invoice

Requirements:
1. Calculate the amount of output VAT and input VAT applicable to each transaction
2. Assume all the input VAT for the month of June 2023 related to both VAT - exempted
and VAT taxable activities. Calculate the total amount of deductible input VAT that
LMN Co. will declare in its June 2023 VAT return.
 3. Calculate VAT payable of June 2023
Clearly explain for each treatment

Question 4
XYZ Co. is established in Vietnam as a distributor of home devices and services in Vietnam
for many foreign suppliers. At the end of 2021, XYZ Co. is entering into a number of
agreements with foreign suppliers and has obtained the following summary of the key issues
relating to three of these contracts and one of its ongoing contracts.

Contract 1 with O Plus Co.

XYZ is about to renew an existing agreement with O Plus Co. for the long term distribution

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of kitchen machinery equipment. The draft received agreement provides that:
- O Plus Co. bears the risks of the goods until the time the devices arrive at the Vietnam

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border gate. XYZ Co. is responsible for customs clearance and transportation from the
Vietnam bonder gate to its own warehouse.
- O Plus Co. has the right to determine the selling price of the products each time tin
Vietnam
- O Plus Co. gives a guarantee period of one year for faulty products. XYZ Co. is to
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ship back the faulty goods to O Plus Co. overseas for replacement.

Contract 2 with Lami Light Co.

XYZ Co. is negotiating an import contract for wall lights for the resale in Vietnam with Lumi
Light Co. According to the draft agreement:
- The terms of delivery will be DDP (delivery duty paid) to HCMC
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- The advertising costs for the products in Vietnam will be advanced by XYZ Co.m but
Lumi Light Co. will reimburse these costs to XYZ Co. upon submissions of sufficient
supporting documents.
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