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Tax audit was completed in a Company and following differences were revealed for the month of June between declared and payable amounts: Tax Declared by

Tax audit was completed in a Company and following differences were revealed for the month of June between declared and payable amounts:

Tax

Declared by Company

Payable by Law

VAT

5,300

3,500

CIT

3,800

5,250

PIT

8,000

8,380

Import Tax

2,500

3,130

Additionally following results were revealed from Stocktaking conducted by Tax Authority:

Title Factual (Real) Amount Accounted Amount Market price for 1 unit (GEL)
Table 18 25 200
Chair 33 27 100
Drawer 5 12 800

Tasks:

1. Determine additionally assessed taxes and fines for each tax (For tax audit).

2. Determine total additional amount assessed (tax principals+fine) from tax audit.

3. Determine total results of tax stocktaking (total shortage and total surplus in GEL).

4. Determine fines from tax stocktaking (for surplus and for shortage).

5. Determine additionally assessed taxes and fines from tax stocktaking.

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