PTT Consulting Company Co., Ltd is a new service company incorporated in Cambodia in 2015. Under the tax regulations, PTT Consulting Company Co., Ltd is required to calculate and pay annual Tax on Profit.
Revenues from each month for 2016 as follows:
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total |
| Revenue | – | 11,710 | 11,090 | 7,750 | 7,720 | – | – | 4,900 | – | – | – | 4,864 | 48,034 |
| VAT Output | – | 1,171 | 1,109 | 775 | 772 | – | – | 490 | – | – | – | 486 | 4,803 |
| Prepayment of Profit Tax | – | 117 | 111 | 78 | 77 | – | – | 49 | – | – | – | 49 | 480 |
Expenses and Payments from each month for 2016 as follows:
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total |
| Salary Expense | 3,350 | 3,350 | 3,350 | 3,350 | 3,350 | 3,350 | 3,350 | 3,350 | 3,350 | 3,350 | 3,350 | 3,350 | 40,200 |
| Tax on Salary | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 1,494 |
| Net Expense for Office Rental (Note 1) | 1,200 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 4,500 |
| Net Expense for Car Rental (Note 2) | 500 | 500 | |||||||||||
| Purchase Car | 15,000 | 15,000 | |||||||||||
| Purchase Printer | 190 | 190 | |||||||||||
| Purchase Computers | 3,600 | 3,600 |
Additional Expenses as follows:
- Fuel expenses of $2,000
- Office supplies expense of $500
- Other Expenses of $700
- Registered costs at Ministry of Commerce (MOC) are assumed $450 during Oct 2015.
- Registered costs at General Department of Taxation (GDT) are assumed $650 during 2015.
- Registered capital of $40,000.
The notes as follows:
- PTT Consulting Company Co., Ltd paid withholding tax for office rental on behalf of lessor.
- PTT Consulting Company Co., Ltd paid withholding tax for car rental on behalf of lessor.
- PTT’s policy recognized preliminary and formation expenses as expenses.
- Withholding tax rate of 10%.
- Withholding tax, tax on salary, prepayment of profit tax and VAT output occurred during months are paid to tax admin the following months.
PTT Consulting Company Co., Ltd is subject to profit tax rate of 20%.
Required:
Because cost of services supplied (B 5.1) is difficult to classify which costs are direct expenses related with services earned from customers, so company decided to ignore B 5.1.
Declare tax on profit and complete financial figures (2016) accordance with tax form requirement from page 3/16 to 13/16.