PRACTICAL COMPUTATION (TAXABLE CHARGES, SURCHARGE, PRORATA)

A construction company imported from Japan 1 unit of payloader & 1 unit bulldozer w/gross weight of 8,500 kgs and 15,500 kgs, respectively. If subject shipment was discharged at the South Harbor, Manila, compute the Arrastre Charges, exclusive of VAT, used as basis in computing the VAT Base.

• ₱ 12,243.00

• ₱ 3,051.50

• ₱ 879.60

• ₱ 9,191.50

Gems Marine review center for marine officers opened a letter of credit for 10 units Optic Mark Readers for its operational use. Each unit had a CIF value of $ 2,000.00 while 2% of the total invoice price was separately paid to a selling agent situated in Makati. Based on exchange rate of P 51.202/$ 1.00, which is the total bank charges, inclusive of the value added tax?

• P 2,246.86

• P 3,451.77

• P 1,433.66

• P 3,523.81

GIVEN:

Automobile : Traditional Expedition SUV, 9 seater imported 2 years ago

Seller: American Diplomat Stationed in Manila

Buyer: Customs Broker

Book Value: $ 32,500.00

Exchange Rate: ₱ 48.875 / $1.00

FIND:

Ad Valorem Tax, VAT excluded

• P 330,451.00

• P 165,225.50

• P 185,052.56

• P 235,213.76

GIVEN:

Shipment: 8 x 20', STC: Rice in bags

T. DV: ₱ 1,092,000.00

T. LC: ₱ 1,569,375.00

T. ME: ₱ 40,575.00

R/D : 40%

E/R: P48.983 /$1.00

FIND:

Net Amount Payable to BOC or T. Duties and Taxes & Other Charges

• P 628,364.00

• P 438,472.00

• P 440,039.00

• P 626,797.00

GIVEN:

(MISDECLARATION IN WEIGHT)

Shipment: Various Hand Tools

Weight (as found): 1500 kgs

Weight (as declared): 1425 kgs

Unit DV: ₱ 750/kg.

VAT (as found): ₱ 189 959.97

Other violation: Making false invoice

RID: 40%

FIND:

Amount of surcharge per Sec. 1400, CMTA

• P 3,199,800.00

• NO SURCHARGE

• P 2,250,000.00

• SUBJECT TO SEIZURE PROCEEDINGS

What incoterm do you think presents the minimum responsibility of the buyer whereas the maximum responsibility of the seller?

• EXW

• DAP

• DDP

• DPU

GIVEN:

Shipment: Chemical

D/T per SAD: 30% lower than D/T as found

D/T as found: ₱ 600,000

FIND:

Docket Fee

• ₱ 1,100.00

• ₱ 900.00

• ₱ 1,300.00

• ₱ 1,700.00

• ₱ 369,230.77

• ₱ 430,132.63

• ₱ 345,901.88

• ₱ 345,901.88

Century Canning Corp. imported from Alaska a 200 cartons of frozen fish with each carton having a dimension of 8 in. x 10 in. x 12 in. If each carton had a gross weight of 10 kgs and entire shipment was discharged at South Harbor, Manila, determine the Arrastre Charges declared per entry, without VAT.

• ₱ 2,091.60

• ₱ 107.78

• ₱ 1,328.00

• ₱ 3,419.60

3,527,336.80 pounds of cement clinker in bulk arrived at a private pier in Limay, Bataan. To avoid double handling, said shipment was discharged directly into a hatch barge situated alongside the arriving vessel. Which is the total wharfage due as declared, exclusive of VAT.

• ₱ 29,320.00

• ₱ 23,800.00

• ₱ 32,838.40

• ₱ 31,867.00