SDTR QF1

An importation of sports car by Ms. Aduana paid a combined amount of Php 3,740,000 for VAT and excise tax. The advalorem tax rate as prescribed by BIR was 50% with a total miscellaneous expense of Php 35,000 and a rate of duty is 20%. BOC Findings: Lack of required markings. Compute for the MARKING DUTY.

• PHP 4, 564,166.67

• PHP 228, 208.33

• PHP 5,500,00.00

• No correct answer

An importation of sports car by Ms. Aduana paid a combined amount of Php 3,740,000 for VAT and excise tax. The advalorem tax rate as prescribed by BIR was 50% with a total miscellaneous expense of Php 35,000 and a rate of duty is 20%. BOC Findings: Lack of required markings. Compute for the DUTIABLE VALUE.

• PHP 4, 564,166.67

• PHP 228, 208.33

• PHP 5,500,00.00

• No correct answer

An importation of sports car by Ms. Aduana paid a combined amount of Php 3,740,000 for VAT and excise tax. The advalorem tax rate as prescribed by BIR was 50% with a total miscellaneous expense of Php 35,000 and a rate of duty is 20%. BOC Findings: Lack of required markings. Compute for the LANDED COST.

• PHP 4, 564,166.67

• PHP 228, 208.33

• PHP 5,500,00.00

• No correct answer

National Food Authority imported 30 tons of rice and the bill of lading reflected $5,000.00 as amount paid for the main carriage. If insurance amounted to $2000, was based per 4% of the FOB Value. Use exchange rate of 53.00. BOC findings shows lack of required markings. Compute for the MARKING DUTY:

• PHP 152, 375

• $ 5,500

• PHP 3,047,500

• No correct answer

The shipment of various office supplies delivered to the carrier by the seller and corresponding pay for the main carriage at $1,500.00 and secured the shipment to origin to destination at $300 and the total value reflected to the invoice was $15,000. Use exchange rate of Php56.275 and rate of duty of 12%. Compute for MARKING DUTY.

• PHP 42,206.25

• $300

• PHP 844,125

• No correct answer