HINDI KO SAGUTIN AGAD ANG TANONG MO: KUMBAGA, MAGLECTURE MUNA AKO NG KONTI.
Assuming that the said fixed asset will be sold on April 2012 at 50,000,000 ( inclusive of VAT), consider the following computation:
Given: Selling price = 50,000,000.00
Purchase Price= 31,000,000.00 ( exclusive ba ito ng VAT o inclusive??)
(if ito iyong nag appear na price per invoice, this is assumed as inclusive of VAT kasi we have this rule na the sales price of
goods/properties should be inclusive of VAT pag dating sa invoice , only that s invoice, i indicate mo iyong Gross, Net and magkano iyong 12% VAT,
kumbaga, me breakdown tayo na ginagawa s resibo.
Input- purchase = get the amount of purchases , exclusive of VAT to determine how much ang input s purchases mo dati
31,000,000 /1.12 = 27,678,571.42
input component= 3,321,428.58
For the month of march, the input recorded for this property was:
3,321,428.58/ 60 months (assuming more than 5 years ang useful life niya= 60 MONTHS ANG I DIVISOR MO KASI WHICHEVER IS SHORTER)
input claimed for the month of march= 55,357.143
*****ang remaining input (3321,428.68-55357.143= 3266071.54) will be spread over the reamining 59 months from April 2012 to the 60th month.
Assuming mabenta iyong property ngayong April 2012...
50,000,000 / 1.12 = 44,642,857.14 (net selling price)
OUTPUT tax 5,357,142.857
less: amortized input for April (55,357.143)
less: unamortized input tax (3,321,428.58- 55,357.143 (march)-55,357.14(april) ( 3,210,714.297)
(see rule 2 below)
NET VAT PAYABLE 2,091,071.417
Consider the following rules:
1. Input tax on depreciable capital goods, the AGGREGATE acquisition of which (net of VAT) in a calendar month exceeds 1,000,000.00 shall be spread evenly over 60 months or their useful life, whichever is shorter.
2. If the capital goods is sold within 5 years or prior to exhaustion from Input VAT thereon, the ENTIRE UNAMORTIZED INPUT VAT on the capital goods sold can be claimed as input tax credit during the month/quarter when the sale was made.
3. there will be no TCC for input on capital goods. Option to apply for refund/tax credit certificate of capital goods has been withdrawn already. (assuming there is no output tax liability lang, as a general rule, puwede ka mag apply sana ng Tax Credit Certificate normally. pero di ho puwede ito if ang excess input is based s capital goods . nawithdraw na itong option na ito)
me i add ako doon s topic na vat on purchase of fixed asset this week. i clarify ko lang iyong tanong niya at sagot ko. kasi me tanong pala sya na how about if ang purchased fixed asset is not held for sale. di ko nakita iyong NOT HELD FOR SALE. although iqualify ko ang sagot at halos pareho lang ang sagot doon, i clarify ko lang.
iyong capital goods (na hindi for sale), pero magfall sa ganitong definition:
1. capital goods/properties refer to goods or properties with estimate useful life greater than 1 year and which are treated as depreciable assets under SEction 34 F of the Tax Code, used directly or indirectly in the production or sale of taxable goods or services, me amortization of input for 60 months/useful life (whichever is shorter).
ito iyong sagot pa rin: pareha pa rin.
answer: although not held for sale , ganun pa rin ang treatment kasi iyong VAt law natin is the consumption type and income type.
ang consumption type, ganito ang rule:
"all input taxes on ALL business PURCHASES (KASALI DITO ANG GOODS/CAPITAL GOODS NOT HELD FOR SALE), including supplies, capital goods or equipment, and services CAN BE CREDITED"
. meaning, lahat ng purchases mo whether held for sale iyong goods na binili mo or hindi, ma credit as input tax . kaya kung ang capital goods di mo ibenta, me input tax pa rin iyan.
ang income type, input tax on capital goods allowed as tax credit is amortized over the depreciable life of the said goods. (income and expense matching principle kumbaga..)
so dapat ang sagot doon s tanong na iyon is:
1. yes . macredit ang input tax kahit iyong property is not held for sale because of the consumption type principle.
2. pero me amortization sya over 60 months or useful life, which ever is shorter kasi nga s income type principle (income vs. expense matching principle)
please let me know if me mali ako. opinion ko lang iyan. paki refer s isang accountant na naga public practice.
pasensya din if medyo hindi organized ang sagot. medyo busy kasi. my apology.
i hope makahelp ito sa u.
sagutin na natin ang tanong mo:
1. How much VAT is to be claimed for the month of March.= ang answer is: input that can be claimed for the month of march= 55,357.143
2. if ibenta ninyo ang property for the month of april= magkano ang input na maclaim:
= april 55,357.143
plus the unamortized cost
( (3,321,428.58- 55,357.143 (march)-55,357.14(april) (3,210,714.297)