TOPIC 10 – EXCISE TAX ON NON-ESSENTIAL GOODS AND MINERAL PRODUCT

A shipment of 200,000 kilograms of coke was imported to be used as fuel for their furnace arrived at the Port of Manila. Compute the total specific tax, exclusive of value-added tax.

• P30,000.00

• P33,600.00

• P76,138.42

• P85,275.03

A shipment of 150 sacks of coal arrived at Port of Cebu. Each sack weighs 330 lbs. Inclusive of value-added tax, how much is the total specific tax?

• P3,367,980.00

• P3,772,137.60

• P3,367.50

• P3,771.60

A shipment of 3 x 20’ containers consisting of kaolin clays from Japan arrived at MICP. Invoice shows total CFR value of $28,750.00 with ocean freight charges amounted to $3,100.00. The local insurance was P25,290.00 but no official receipt and certification presented to BOC. If the rate of exchange was P42.15/$1.00, how much is the total ad valorem tax due, net of value-added tax?

• P55,422.19

• P49,484.10

• P49,337.42

• P55,257.91

A shipment of women’s perfume from Korea arrived at MCIA with total CPT value of $21,000.00. The covering invoice shows freight charges of $880.00 whereas the air waybill shows air freight of $950.00. If the rate of exchange at the time of entry lodgment is P45.75/$1.00, how much is the total ad valorem tax, inclusive of value-added tax?

• P200,154.42

• P196,472.46

• P224,172.95

• P220,049.16

A shipment of 2 metric tons of tungsten ores arrived at Port of Cebu. The covering invoice shows CFR value of $20.00 per kilogram. The covering invoice shows freight charges of $2,300.00. The rate of exchange is P52.75/$1.00. Compute the total ad valorem tax paid to BOC.

• P85,990.94

• P96,309.85

• P429,954.70

• P481,549.26

A shipment of 8 units of yachts from US arrived at Port of Manila. The covering invoice shows FCA value of $45,000.00 per unit. The covering invoice shows freight charges of $5,150.00 per unit. The rate of exchange is P43.85/$1.00. Exclusive of value-added tax, how much is the total excise tax?

• P4,082,189.44

• P510,273.68

• P455,601.50

• P3,644,812.00

A shipment of 10,000 kilograms of limestone flux was assessed with total customs duty of P26,250.00. The total value-added tax was assessed at P114,150.00. The rate of exchange is P43.50/$1.00 while the duty rate is 3%. Inclusive of value-added tax, how much is the total ad valorem tax?

• P35,000.00

• P39,200.00

• P175,000.00

• P196,000.00

A shipment of 2 boxes containing ruby rings arrived at NAIA. The covering invoice shows total FCA value of $26,500.00. The origin LCL charges is $80.00 and packing charges of $30.00. The air waybill shows air freight charges of $1,775.00. The rate of exchange is P44.60/$1.00. Compute the total ad valorem tax, value-added tax included.

• P52,333.64

• P261,668.20

• P293,068.38

• P58,613.68

A shipment of 30 metric tons of quartz arrived at Port of Manila with FOB value of $0.75 per kilogram. The bill of lading shows ocean freight charges of $1,800.00. The rate of exchange is P48.77/$1.00. How much is the total ad valorem tax, value-added tax included?

• P48,282.30

• P54,076.18

• P49,160.16

• P55,059.38

A shipment of 400 sacks of coal arrived at Port of Davao. Each sack weighs 150,000 grams. How much is the specific tax per sack, inclusive of value-added tax?

• P22,500.00/sack

• P25,200.00/sack

• P22.50/sack

• P25.20/sack