Professional Documents
Culture Documents
1.
320,000
120,000
440,000
3.
Books
Professional instruments
School supplies
Total
Landed cost
350,000
200,000
350,000
900,000
Fruits
Vegetables
Frozen meat
Marinated milkfish
Total
Compute the Vat on importation
a. 0
c. 51,600
b. 12,000
d. 69,600
Landed cost
250,000
180,000
50,000
100,000
580,000
5.
6.
Seeds
Fertilizers
Farming equipment
Herbicides and pesticides
Total
Landed cost
400,000
750,000
450,000
250,000
1,850,000
600,000
250,000
450,000
Mr. Huligan imported rice from Vietnam. Details of his importation show the following:
Total invoice value
Freight and insurance in transit
BOC and other charges
Compute the VAT on importation.
1,000,000
50,000
20,000
a.
b.
9.
0
120,000
c. 126,000
d. 128,400
200,000
350,000
300,000
1,000,000
300,000
200,000
300,000
Don Pepito imported a harvester from the United States with a total cost of
1,100,000 before Customs duties. The importation is subject to 10% Customs duties.
What is the VAT on importation?
a. 158,400
c. 129,600
b. 145,200
d. 0
2.
3.
900,000
600,000
1,500,000
Mr. Juan Manuel Marquez arrives in the Philippines with an immigration visa. He had
with him the following:
Clothing, shoes and apparels
Professional instruments and implements
Personal car
Total costs of personal belongings
100,000
150,000
300,000
550,000
Mr. Xhi, a non-VAT taxpayer, made the following domestic Purchases of goods:
Purchase of scrap metals from PEZA- locator
Purchase of machine from a VAT supplier
200,000
800,000
Atlantis Shipping Company imported 3,000,000 worth of vessel fuels and supplies for
domestic use. The company earmarked 60% of this for domestic use while 40% is
reserved for its international operations.
What is the VAT on importation?
a. 0
c. 216,000
b. 144,000
d. 360,000
7.
8.
If an importer paid 15% custom duties in the amount of 24,000 plus 134,000 charges in
the Bureau of Customs, what is the VAT on importation?
a. 0
c. 35,280
b. 18,960
d. 38,160
9.
10.
Mr. Dolinger imported various merchandise from abroad. The importation was invoiced at
$5,000. Mr. Dolinger also incurred the following costs of of importation:
Insurance
Freight
Wharfage fee
Arrastre charge
Brokerage fee
Facilitation fee
4,000
15,000
4,000
7,000
8,000
5,000
Mr. Dolinger was also assessed 24,000 and 18,000 customs duties and excise tax,
respectively. The applicable exchange rate was 42.50:$1
What is the VAT on importation?
a. 25,500
c. 35,100
b. 30,540
d. 35,700