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VAT estimating practices of selected large construction firms in Metro Manila / Demetrio T. Ventayen. 6

By: Ventayen, Demetrio T. 4 0 16, [, ] | [, ] |

Contributor(s): 5 6 [] |

Language: Unknown language code Summary language: Unknown language code Original language: Unknown language code Series: ; 46Edition: Description: 28 cm. xi, 76 pagesContent type: text Media type: unmediated Carrier type: volumeISBN: ISSN: 2Other title: 6 []Uniform titles: | | Related works: 1 40 6 []Subject(s): -- 2 -- 0 -- -- | -- 2 -- 0 -- 6 -- | 2 0 -- | -- -- 20 -- | | -- -- -- -- 20 -- | -- -- -- 20 -- --Genre/Form: -- 2 -- Additional physical formats: DDC classification: | LOC classification: | | 2Other classification:

Contents:

Action note: In: Summary: ABSTRACT: Value-added Tax (VAT) is a business tax levied on certain goods, properties and services. It is universal taxation system, adopted in more than 70 countries around the world. In the Philippines, the system was first introduced and implemented in 1988 under Executive Order (E.O.) No. 273. It covered almost all goods and some services. Unlike other business taxes, the system allows the seller or producer to claim tax credits within a 10% ceiling. The House of Representatives and the Senate enacted R.A. 7716 which was signed into law by the President on May 5,1994 and declared by the Supreme Court on October 30, 1995 as valid, legal and constitutional. R.A. 7716 expanded the VAT coverage but the exemption on basic goods and services common to the general population was maintained. The researcher hereby presents the different components of construction estimates (contingencies, site and office overhead, capital costs and profit) and specially the VALUE-ADDED TAX which was taken from selected large construction firms in Metro Manila by means of a survey questionnaire which was sorted, merged and evaluated. The study revealed that the selected large construction firms computed VAT by applying a percentage which ranges from 8.20%-8.72% or an average of 8.54% to the variable costs (materials, labor and equipment costs). However, these percentages as applied underestimated the amount of VAT that should be included which is 10% of labor and fixed costs (contingencies, site OH, office OH, and capital costs). The corrected VAT will be 5.72%-6.08% or an average of 5.9% of the variable costs. The total price ranges from 137.90%-141.90% or an average of 139.90% with respect to the variable costs which could be used as parameter in estimating. These means that, multiplying the variable costs (materials, labor and equipment costs) by 1.399 will produce the total price ready for bidding. Other editions:

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Item type	Current location	Home library	Collection	Call number	Status	Date due	Barcode	Item holds
Book	PLM	PLM Graduate School Library	Graduate School-Thesis/Dissert	TH 438 .V46 2005 (Browse shelf)	Available		G1690
Book	PLM	PLM Graduate School Library	Graduate School-Thesis/Dissert	TH 438 .V46 2005 (Browse shelf)	Available		G599

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Thesis (M.A.) -- Pamantasan ng Lungsod ng Maynila, 2005.;A directed study presented to the faculty of Graduate School of Engineering in partial fulfillment of the requirements for the degree Master of Engineering Management (MEM) with specialization in Construction Management. 56

ABSTRACT: Value-added Tax (VAT) is a business tax levied on certain goods, properties and services. It is universal taxation system, adopted in more than 70 countries around the world. In the Philippines, the system was first introduced and implemented in 1988 under Executive Order (E.O.) No. 273. It covered almost all goods and some services. Unlike other business taxes, the system allows the seller or producer to claim tax credits within a 10% ceiling. The House of Representatives and the Senate enacted R.A. 7716 which was signed into law by the President on May 5,1994 and declared by the Supreme Court on October 30, 1995 as valid, legal and constitutional. R.A. 7716 expanded the VAT coverage but the exemption on basic goods and services common to the general population was maintained. The researcher hereby presents the different components of construction estimates (contingencies, site and office overhead, capital costs and profit) and specially the VALUE-ADDED TAX which was taken from selected large construction firms in Metro Manila by means of a survey questionnaire which was sorted, merged and evaluated. The study revealed that the selected large construction firms computed VAT by applying a percentage which ranges from 8.20%-8.72% or an average of 8.54% to the variable costs (materials, labor and equipment costs). However, these percentages as applied underestimated the amount of VAT that should be included which is 10% of labor and fixed costs (contingencies, site OH, office OH, and capital costs). The corrected VAT will be 5.72%-6.08% or an average of 5.9% of the variable costs. The total price ranges from 137.90%-141.90% or an average of 139.90% with respect to the variable costs which could be used as parameter in estimating. These means that, multiplying the variable costs (materials, labor and equipment costs) by 1.399 will produce the total price ready for bidding.

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