Buổi 1: VAT (P1)

Zara Ltd has retained all its business records for VAT filing purposes since its incorporation on 1 January 2013. The company filed its first VAT return for the quarter ended 31 March 2013.

Until which date must Zara Ltd retain its business records in respect of its VAT return

for the quarter ended 31 March 2013?

• A. 31 December 2018

• B. 31 March 2023

• C. 31 March 2033

• D. 31 December 2023

In June 2021, MBF Co, a Vietnamese company, collected proceeds of VND19,800 million (inclusive of value-added tax (VAT) at 10%) from selling its products on a cash-on-delivery basis. The company issued gift coupons, valued at VND1,100 million, to the buyers of these goods, under a promotion campaign registered with the authorities.

What is the total output VAT payable by MBF Co to the tax authorities in June 2021? (million VND)

Which of the following are deemed sales for value added tax (VAT) purposes?

Can choose more than one answer

• (1) The sale of a package of shampoo together with a sample of hair conditioner

• (2) A sample of hair conditioner given to the walk-in customers to a department store

• (3) Finished goods delivered to a warehouse in another city for storage

• (4) Fixed assets contributed as a capital injection to a subsidiary

• (5) Accountancy services provided free-of-charge to a non-government organisation for charity purposes

Which of the following combinations correctly describes the deadlines for settling the taxes which NLED Co will be subject to in 2020?

• A

• B

• C

• D

Which of the following combinations correctly describes the value added tax (VAT) filing

requirements of MTL Co for the period 2022–2024 as a result of the tax audit?

• A

• B

• C

• D