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Specific Tax , Public lighting tax , Value Added Tax , Prepayment of Profit Tax – alcoholic product and beer Producer

 Specific Tax , Public lighting tax , Value Added Tax , Prepayment of Profit Tax – alcoholic product and beer Producer in Cambodia :

If original producers in Cambodia manufactured and sold  alcoholic product and beer, they are  subject to the following  monthly taxes:

  1.  Specific Tax (ST)- alcoholic product and beer subject to specific tax rate at 20% .
  2. Public lighting tax ( PLT)-alcoholic product and beer subject to public lighting tax rate at 3%.
  3. Value Added Tax ( VAT)-10%  This standard rate applies to all supplies other than exports and non-taxable supplies.
  4. Prepayment of Profit Tax (PPT)- Company has the obligation to pay a monthly prepayment of tax on profit at the rate of 1% of turnover inclusive of all taxes, except Value Added Tax.

 Example for Specific Tax (ST), Public lighting tax ( PLT), Value Added Tax ( VAT), Prepayment of Profit Tax (PPT):

ABC Co., LTD. manufactured  beer brand XY , and Company sold these beers its local customers 100 cases and selling price per case is $20 (excluding any taxes).

Required:

You are required calculated the following monthly taxes:

  1. Specific Tax (ST)
  2. Public lighting tax ( PLT)
  3. Value Added Tax ( VAT)
  4. Prepayment of Profit Tax (PPT)
  5. Final Selling price will be charged customers
  6. Total tax amounts will be paid to tax administration.

Solution:

Total Prices ( excluded any taxes)=100 x $20=$2,000

1. Specific Tax (ST)

  • Specific tax base  =2,000$ x 65%=$1,300
  • Specific tax (ST) will be paid=$1,300 x 20%=$260

2. Public lighting tax ( PLT)

  • Public lighting tax base=($2,000 + $260)=$2,260
  • Public lighting tax will be paid= $ 2,260 x 3%=$67.80

3. Value Added Tax ( VAT)

  • Value Added Tax base= ($2,000+$260+$67.80)= $2,327.80
  • Value Added Tax will be paid= $2,327.80 x 10%= $232.78

4. Prepayment of Profit Tax (PPT)

  • Prepayment of Profit Tax= ($2,000+$260+$67.80)= $2,327.80
  • Prepayment of Profit Tax will be paid=$2,327.80 x 1% = $23.28

5. Final Selling price will be charged its customers

Total Selling prices ( including any taxes) = (2,000 + 260+67.80+232.78)= $2,560.58

6. Total tax amounts will be paid to tax administration.

Total tax amounts= ( 260+67.80+$232.78+$23.28)= $583.86

Thanks You For Reading this article, any errors or mistakes please comment.

 

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