Dutiable Value

An importation of National Food Authority of 30 tons of rice has a freight pre-paid of $5,000 as reflected in bill of loading. Compute for the dutiable value for the whole shipment if the amount of insurance is $1,000 which was based per 4% of the free on board value and exchange rate at the time of importation is ₱ 52.75/ $1.00.

• 1,635,250php

• 1,560,340php

• 1,203,400php

• 1,340,393php

1.    Mrs. DavidaLoca is importing 50,000 face shields from China. If the seller’s invoice indicates total Ex-works value of $15,000, packing and handling, export forwarder’s fee, origin inland freight,  and Air freight charges amounting to $195, $325, $210 and $1,475 respectively.  If the port to port insurance premium paid by the importer amounted to 9,655.60 php, exchange rate is P 55.175/$1.00  and the delivery was made on the warehouse of China Air, compute for the Dutiable value as per CMO 22-07.

• 966,643.93php

• 890,977.43php

• 154,483.56php

• 965,485.23php

Neilsen Auto Supply imported 10 crates of assorted spare parts from Malaysia. Each crate has a dimension: 1 mtr x 1.5 mtrs x 3 mtrs and gross weight of 70,000 pounds. The total CIF value is $28,840 while the main carriage amounts to 8% of FOB. If the amount of insurance and ex works has an aggregate amount of $26,030 and other charges of 3% of ex-works, compute for the value of cost and freight

• $27,810

• $37,700

• $27,816

• $27,860

An exporter in Papua New Guinea delivered 2 pallets of whisky to the warehouse of KKLM Airlines located in Lae. Said whisky were purchased by a Resto Bar in Manila with a total CIP price of $20,000. As arranged, the exporter handled export formalities and paid all charges from his warehouse to KKLM Airlines amounting to 2% of FOB. If the insurance premium secured by the vendor is $600, determine the amount of main carriage which covers the transportation cost from loading airport to NAIA.

• $4,400

• $4,500

• $4,800

• $4,700

A manufacturer in Batangas produces export quality automotive parts for export in Japan, however, some of its raw materials were bought in Shanghai, China. In the recent purchase of the former of raw materials for production, the buyer placed an order having a customs value of $15,000. The marine insurance and freight charges constituting to an amount equivalent to 13% of the customs value was paid by the manufacturer in Batangas. The importer cleared the goods which costs him $250.00 and procured domestic insurance for the transport of goods from port of destination to the buyer’s warehouse of $100. The shipment was contained in 20 cartons having dimension: 20 cm x 60 cm x 90 cm/carton and gross weight per carton of 90 kgs. Using the E/R of ₱ 52.00/ $1.00, determine the dutiable value of the shipment.

• 881,400php

• 881,500php

• 885,450php

• 874,750php

  Free Willy Park wanted to import  Frozen fish weighing 4,500kgs held in 5x20 containers coming from Los Angeles USA. If the total FOB amounted to $10,000 while the Local Insurance premium paid by the seller with Cert and OR amounted to $800. Find the dutiable value if the exchange rate is P50.50/$1.00 and the delivery of the seller was made on board carrying vessel.

• 1,315,525php

• 1,350,558php

• 1,315,252php

• 1,482,458php

Magnolia Incorporated as one of the regular importers of the Bureau, Imported dairy products to be distributed all over the country. No freight amount is indicated to commercial invoice and airway bill of lading but on the entry, it appeared that the freight is $250. IATA rate is $3.50/kg. Find the dutiable freight to be used for assessment purposes in Bureau of Customs

• $1,347.5

• $ 1,345.7

• $ 1543.7

• $ 1452.6