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Specific tax (SPT) for Mix goods and entertainment services– Example 3

Specific tax (SPT) | VAT | PIT for Mix goods and entertainment services– Example 3

ABC is entertainment company, the following sales included any taxes for KTV and SKY BAR are as follows.

  • Room fee = $33
  • Drinking water = $1.1
  • Food and meal = $55

Required

Calculate any taxes if any

Solution

1.Valued Added Tax (VAT)

VAT base = (33+1.1+55)/1.1=$81

VAT output = 81 x 10%=$8.1

2. Prepayment of Income Tax ( PIT)

PIT base = $81

PIT = $81 xx 1%=$0.81

3. Specific Tax (SPT)

SPT base = (33+1.1+55)/1.1/1.1=$73.64

SPT = $73.64=$7.36


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