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  • Sample Problem No. 1: Ñas, Cavite

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    The document contains sample problems and formulas for calculating customs duties, taxes, and other charges for importing goods into the Philippines. It provides calculations for customs duty per drum, brokerage fee, miscellaneous expenses, value-added tax, and FOB value per drum based on information provided about a shipment of 80 drums of chemicals from Brazil with total duties and taxes of PHP 403,550. Various import fees, taxes, and rates are considered in the multi-step formulas and calculations.

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    The document contains sample problems and formulas for calculating customs duties, taxes, and other charges for importing goods into the Philippines. It provides calculations for customs duty per drum, brokerage fee, miscellaneous expenses, value-added tax, and FOB value per drum based on information provided about a shipment of 80 drums of chemicals from Brazil with total duties and taxes of PHP 403,550. Various import fees, taxes, and rates are considered in the multi-step formulas and calculations.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    547 views24 pages

    Sample Problem No. 1: Ñas, Cavite

    Uploaded by

    2 B
    The document contains sample problems and formulas for calculating customs duties, taxes, and other charges for importing goods into the Philippines. It provides calculations for customs duty per drum, brokerage fee, miscellaneous expenses, value-added tax, and FOB value per drum based on information provided about a shipment of 80 drums of chemicals from Brazil with total duties and taxes of PHP 403,550. Various import fees, taxes, and rates are considered in the multi-step formulas and calculations.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 24

    EMILIO AGUINALDO COLLEGE ISO 9001: 2015 CERTIFIED

    QUALITY MANAGEMENT SYSTEM


    City of Dasmariñas,Cavite
    Sample Problem no. 1

    Shipment of 1x40’ containing 80 drums of chemicals from Brazil with a total amount of duties,
    taxes and other charges paid of PHP 403,550.00 using 20% duty rate and PHP 50.25/USD
    exchange rate, compute the following:

    (1.) Customs Duty


    (2.) Brokerage Fee
    (3.) Total Miscellaneous Expenses
    (4.) Value Added Tax
    (5.) FOB/drum (if ocean freight used is USD 560.00 covered by LIP of PHP 6,030.00 complete
    with all requirement prescribed by law)

    VIRTUE EXCELLENCE SERVICE


    EMILIO AGUINALDO COLLEGE ISO 9001: 2015 CERTIFIED
    QUALITY MANAGEMENT SYSTEM
    City of Dasmariñas,Cavite

    Formula: Summary of Duties, Taxes & Other Collectible Charges

    Customs Duty 0.20 (DV)


    Plus: Value Added Tax 0.14415 (DV) 2,631.666
    Import Processing Fee 1,000.00
    Customs Documentary Stamps 280.00
    Container Security Fee + 503.00
    Total Amount Due to the Government 0.34415 (DV)+ 4,414.666

    VIRTUE EXCELLENCE SERVICE


    EMILIO AGUINALDO COLLEGE ISO 9001: 2015 CERTIFIED
    QUALITY MANAGEMENT SYSTEM
    City of Dasmariñas,Cavite
    Formula: Taxable Value & Value Added Tax – via Sea Ports of Entry
    (Formal Entry Consumption/Warehousing)

    Dutiable Value 1 (DV)


    Plus: Customs Duty 0.20 (DV)
    Brokerage Fees 0.00125 (DV) 5,050.00
    Arrastre Charges 14,821.50
    Wharfage Dues 779.05
    Customs Documentary Stamp 280.00
    Import Processing Fee + 1,000.00
    Landed Cost 1.20125 (DV) 21,930.55
    Multiply: VAT Rate x 0.12
    Value-Added Tax 0.14415 (DV) 2,631.666

    VIRTUE EXCELLENCE SERVICE


    EMILIO AGUINALDO COLLEGE ISO 9001: 2015 CERTIFIED
    QUALITY MANAGEMENT SYSTEM
    City of Dasmariñas,Cavite
    Formula: Taxable Value & Value Added Tax – via Sea Ports of Entry
    (Formal Entry Consumption/Warehousing)
    Reference:
    TADTG PHP 403,550.00
    Minus: - 4,414.666
    PHP 399,135.334
    Divide: ÷ 0.34415
    Dutiable Value PHP 1,159,771.42

    VIRTUE EXCELLENCE SERVICE


    EMILIO AGUINALDO COLLEGE ISO 9001: 2015 CERTIFIED
    QUALITY MANAGEMENT SYSTEM
    City of Dasmariñas,Cavite

    Formula: Dutiable Value


    Reference:
    Dutiable Value PHP 1,159,771.42
    Multiply: Duty Rate x 0.20
    Customs Duty 231,954.28
    Divide: Total drums imported ÷ 80
    Customs Duty per drum PHP 2,899.43

    VIRTUE EXCELLENCE SERVICE


    EMILIO AGUINALDO COLLEGE ISO 9001: 2015 CERTIFIED
    QUALITY MANAGEMENT SYSTEM
    City of Dasmariñas,Cavite

    Reference:
    Dutiable Value PHP 1,159,771.42
    Multiply: x 0.00125
    PHP 1,449.71
    Plus: + 5,050.00
    Brokerage Fee PHP 6,499.71

    VIRTUE EXCELLENCE SERVICE


    EMILIO AGUINALDO COLLEGE ISO 9001: 2015 CERTIFIED
    QUALITY MANAGEMENT SYSTEM
    City of Dasmariñas,Cavite

    Reference:
    Dutiable Value PHP 1,159,771.42
    Multiply: x 0.00125
    PHP 1,449.71
    Plus: 6,330.00
    14,821.50
    + 779.05
    Miscellaneous Expenses PHP 23,380.26

    VIRTUE EXCELLENCE SERVICE


    EMILIO AGUINALDO COLLEGE ISO 9001: 2015 CERTIFIED
    QUALITY MANAGEMENT SYSTEM
    City of Dasmariñas,Cavite
    Formula: Taxable Value & Value Added Tax – via Sea Ports of Entry
    (Formal Entry Consumption/Warehousing)

    Dutiable Value 1,159,771.42


    Plus: Customs Duty 231,954.28
    Brokerage Fees 6,499.71
    Arrastre Charges 14,821.50
    Wharfage Dues 779.05
    Customs Documentary Stamp 280.00
    Import Processing Fee + 1,000.00
    Landed Cost 1,415,105.96
    Multiply: VAT Rate x 0.12
    Value-Added Tax 169,812.72

    VIRTUE EXCELLENCE SERVICE


    EMILIO AGUINALDO COLLEGE ISO 9001: 2015 CERTIFIED
    QUALITY MANAGEMENT SYSTEM
    City of Dasmariñas,Cavite
    Formula: Taxable Value & Value Added Tax – via Sea Ports of Entry
    (Formal Entry Consumption/Warehousing)
    Reference:
    Dutiable Value PHP 1,159,771.42
    Multiply: x 0.14415
    PHP 167,181.05
    Plus: + 2,631.666
    Value Added Tax PHP 169,812.72

    VIRTUE EXCELLENCE SERVICE


    EMILIO AGUINALDO COLLEGE ISO 9001: 2015 CERTIFIED
    QUALITY MANAGEMENT SYSTEM
    City of Dasmariñas,Cavite
    Formula: Taxable Value & Value Added Tax – via Sea Ports of Entry
    (Formal Entry Consumption/Warehousing)
    Reference:
    Dutiable Value PHP 1,159,771.42
    Plus: Customs Duty 231,954.28
    Miscellaneous Expenses x 23,380.26
    Landed Cost PHP 1,415,105.96
    Multiply 0.12
    Value Added Tax PHP 169,812.72

    VIRTUE EXCELLENCE SERVICE


    EMILIO AGUINALDO COLLEGE ISO 9001: 2015 CERTIFIED
    QUALITY MANAGEMENT SYSTEM
    City of Dasmariñas,Cavite
    Formula: Taxable Value & Value Added Tax – via Sea Ports of Entry
    (Formal Entry Consumption/Warehousing)
    Reference:
    Dutiable Value PHP 1,159,771.42
    Multiply: x 1.20125
    PHP 1,393,175.42
    Plus: B/F, IPF & CDS 6,330.00
    Arrastre Charges 14,821.50
    Wharfage Dues + 779.05
    Landed Cost 1,415,105.97
    Multiply: x 0.12
    Value Added Tax PHP 169,812.72

    VIRTUE EXCELLENCE SERVICE


    EMILIO AGUINALDO COLLEGE ISO 9001: 2015 CERTIFIED
    QUALITY MANAGEMENT SYSTEM
    City of Dasmariñas,Cavite
    Formula: FOB
    Reference:
    Dutiable Value PHP 1,159,771.42
    Divide: Exchange Rate ÷ 50.25
    Dutiable Value USD 23,080.03
    Minus: Dutiable Freight 560.00
    Dutiable Insurance - 120.00
    Free on Board USD 22,400.03
    Divide: Total Drums Imported ÷ 80
    FOB per Drum USD 280.00

    VIRTUE EXCELLENCE SERVICE


    EMILIO AGUINALDO COLLEGE ISO 9001: 2015 CERTIFIED
    QUALITY MANAGEMENT SYSTEM
    City of Dasmariñas,Cavite
    Sample Problem no. 2

    Importation of 2x20’ STC; bolts and nuts from Japan with a total duties and taxes paid of PHP
    352,147.924 Using 10% duty rate and PHP 50.00/USD exchange rate assess the following:

    (1.) Customs Duty


    (2.) Brokerage Fee
    (3.) Total Miscellaneous Expenses
    (4.) Value Added Tax
    (5.) FOB (if the freight charges was USD 500.00 and no amount of insurance was provided)

    VIRTUE EXCELLENCE SERVICE


    EMILIO AGUINALDO COLLEGE ISO 9001: 2015 CERTIFIED
    QUALITY MANAGEMENT SYSTEM
    City of Dasmariñas,Cavite

    Formula: Summary of Duties, Taxes & Other Collectible Charges

    Customs Duty 0.10 (DV)


    Plus: Value Added Tax 0.13215 (DV) 1,917.924
    Import Processing Fee 1,000.00
    Customs Documentary Stamps 280.00
    Container Security Fee + 500.00
    Total Amount Due to the Government 0.23215 (DV)+ 3,697.924

    VIRTUE EXCELLENCE SERVICE


    EMILIO AGUINALDO COLLEGE ISO 9001: 2015 CERTIFIED
    QUALITY MANAGEMENT SYSTEM
    City of Dasmariñas,Cavite
    Formula: Taxable Value & Value Added Tax – via Sea Ports of Entry
    (Formal Entry Consumption/Warehousing)
    Reference:
    TADTG PHP 352,147.924
    Minus: - 3,697.924
    PHP 348,450.00
    Divide: ÷ 0.23215
    Dutiable Value PHP 1,500,969.20

    VIRTUE EXCELLENCE SERVICE


    EMILIO AGUINALDO COLLEGE ISO 9001: 2015 CERTIFIED
    QUALITY MANAGEMENT SYSTEM
    City of Dasmariñas,Cavite

    Formula: Dutiable Value


    Reference:
    Dutiable Value PHP 1,500,969.20
    Multiply: Duty Rate x 0.10
    Customs Duty per drum PHP 150,096.92

    VIRTUE EXCELLENCE SERVICE


    EMILIO AGUINALDO COLLEGE ISO 9001: 2015 CERTIFIED
    QUALITY MANAGEMENT SYSTEM
    City of Dasmariñas,Cavite

    Reference:
    Dutiable Value PHP 1,500,969.20
    Multiply: x 0.00125
    PHP 1,876.21
    Plus: + 5,050.00
    Brokerage Fee PHP 6,926.21

    VIRTUE EXCELLENCE SERVICE


    EMILIO AGUINALDO COLLEGE ISO 9001: 2015 CERTIFIED
    QUALITY MANAGEMENT SYSTEM
    City of Dasmariñas,Cavite

    Reference:
    Dutiable Value PHP 1,500,969.20
    Multiply: x 0.00125
    PHP 1,876.21
    Plus: 6,330.00
    8,614.00
    + 1,038.70
    Miscellaneous Expenses PHP 17,858.91

    VIRTUE EXCELLENCE SERVICE


    EMILIO AGUINALDO COLLEGE ISO 9001: 2015 CERTIFIED
    QUALITY MANAGEMENT SYSTEM
    City of Dasmariñas,Cavite
    Formula: Taxable Value & Value Added Tax – via Sea Ports of Entry
    (Formal Entry Consumption/Warehousing)

    Brokerage Fee 6,926.21


    Plus: Arrastre Charges 8,614.00
    Wharfage Dues 1,038.70
    Customs Documentary Stamp 280.00
    Import Processing Fee + 1,000.00
    Miscellaneous Expenses 17,858.91

    VIRTUE EXCELLENCE SERVICE


    EMILIO AGUINALDO COLLEGE ISO 9001: 2015 CERTIFIED
    QUALITY MANAGEMENT SYSTEM
    City of Dasmariñas,Cavite
    Formula: Taxable Value & Value Added Tax – via Sea Ports of Entry
    (Formal Entry Consumption/Warehousing)

    Dutiable Value 1,500,969.20


    Plus: Customs Duty 150,096.92
    Brokerage Fees 6,926.21
    Arrastre Charges 8,614.00
    Wharfage Dues 1,038.70
    Customs Documentary Stamp 280.00
    Import Processing Fee + 1,000.00
    Landed Cost 1,668,925.03
    Multiply: VAT Rate x 0.12
    Value-Added Tax 200,271.00

    VIRTUE EXCELLENCE SERVICE


    EMILIO AGUINALDO COLLEGE ISO 9001: 2015 CERTIFIED
    QUALITY MANAGEMENT SYSTEM
    City of Dasmariñas,Cavite
    Formula: Taxable Value & Value Added Tax – via Sea Ports of Entry
    (Formal Entry Consumption/Warehousing)
    Reference:
    Dutiable Value PHP 1,500,969.20
    Multiply: x 0.13215
    PHP 198,353.08
    Plus: + 1,917.924
    Value Added Tax PHP 200,271.00

    VIRTUE EXCELLENCE SERVICE


    EMILIO AGUINALDO COLLEGE ISO 9001: 2015 CERTIFIED
    QUALITY MANAGEMENT SYSTEM
    City of Dasmariñas,Cavite
    Formula: Taxable Value & Value Added Tax – via Sea Ports of Entry
    (Formal Entry Consumption/Warehousing)
    Reference:
    Dutiable Value PHP 1,500,969.20
    Plus: Customs Duty 150,096.92
    Miscellaneous Expenses x 17,858.91
    Landed Cost PHP 1,668,925.03
    Multiply 0.12
    Value Added Tax PHP 200,271.00

    VIRTUE EXCELLENCE SERVICE


    EMILIO AGUINALDO COLLEGE ISO 9001: 2015 CERTIFIED
    QUALITY MANAGEMENT SYSTEM
    City of Dasmariñas,Cavite
    Formula: FOB
    Reference:
    Dutiable Value PHP 1,500,969.20
    Divide: Exchange Rate ÷ 50.00
    Dutiable Value USD 30,019.38
    Minus: Dutiable Freight - 500.00
    Cost and Insurance USD 29,519.38
    Divide: ÷ 1.02
    FOB USD 28,940.57

    VIRTUE EXCELLENCE SERVICE


    EMILIO AGUINALDO COLLEGE ISO 9001: 2015 CERTIFIED
    QUALITY MANAGEMENT SYSTEM
    City of Dasmariñas,Cavite
    Sample Problem no. 3

    An L/C importation of 2x40’ STC; plastic fittings from Japan with a total duties and taxes paid of
    PHP 485,040.912 using 15% duty rate and PHP 50.00/USD exchange rate assess the
    following:

    (1.) Customs Duty


    (2.) Brokerage Fee
    (3.) Total Miscellaneous Expenses
    (4.) Value Added Tax
    (5.) FOB (if the freight charges was USD 620.00 and no amount of insurance was provided)

    VIRTUE EXCELLENCE SERVICE

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