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C 1 Diplomats Luxury Car 3D

The document details the financial assessment of a luxury car brought into the Philippines by a returning ambassador, including its book value, customs duty, ad valorem tax, and total landed cost. The FOB value after depreciation and exemptions is calculated at USD 63,200, leading to a customs duty of PHP 1,156,195.20 and a total duty and taxes amounting to PHP 4,449,543.00.

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Adelaine Bugay
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35 views2 pages

C 1 Diplomats Luxury Car 3D

The document details the financial assessment of a luxury car brought into the Philippines by a returning ambassador, including its book value, customs duty, ad valorem tax, and total landed cost. The FOB value after depreciation and exemptions is calculated at USD 63,200, leading to a customs duty of PHP 1,156,195.20 and a total duty and taxes amounting to PHP 4,449,543.00.

Uploaded by

Adelaine Bugay
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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C.

(1) LUXURY CAR BROUGHT IN BY A RETURNING PHILIPPINE DIPLOMATS (AMBASSADORS, CONSULAR


OFFICERS, COMMERCIAL ATTACHES, EXPERTS) BOOK VALUE- USD 98,000.00; MSP PHP 4,800,000.00

A RETURNING PHILLIPINES AMBASSADOR WHO WAS ASSIGNED IN JAPAN BROUGHT IN HIS OFFICIAL CAR
TOYOTO CAMRY 3.0D (NON-HYBRID) AT USD 98,000.00 MODELED 2024; OCEAN FREIGHT USD 720.00;
MISCELANEOUS EXPENSES PHP 15,800.00: ALLOWABLE PRIVILEGE /EXEMPTIONS USD 25,000.00; ROE
PHP 58.00/USD; ROD 30%

1. ASSESSMENT OF FOB VALUE

BOOK VALUE USD 98,000.00


LESS: 10 % DEPRECIATION 9,800.00
DEPRECIATED BOOK VALUE USD 88,200.00
LESS:EXEMPTIONS 25,000.00
FOB VALUE USD 63,200.00

2. ASSESSMENT OF CUSTOMS DUTY

FOB VALUE USD 63,200.00


ADD: FREIGHT 720.00
ADD: INS 4% OF FOB 2,528.00
DUTIABLE VALUE USD 66,448.00
MULTIPLY ROE 58.00
DUTIBALE VALUE IN PHP PHP 3,853,984.00
MULTIPLY: ROD 30% 0.30
CUSTOMS DUTY PHP 1,156,195.20

3. ASSESSMENT OF AD VALOREM TAX

MANUFACTURER’S SELLING NON-HYBRID RATE AD VALOREM TAX


PRICE
PHP 4,800,000.00 50% PHP 2,400,000.00

4. ASSESSMENT OF LANDED COST

DUTIBALE VALUE IN PHP PHP 3,853,984.00


ADD: CUSTOMS DUTY PHP 1,156,195.20
ADD: MISCELLANEOUS EXPENSES 15,800.00
LANDED COST PHP 5,025,979.20

5. ASSESSMENT OF VALUE ADDED TAX

LANDED COST PHP 5,025,979.20


ADD: AD VALOREM TAX 2,400,000.00
TOTL LANDED COST PHP 7,425,979.20
MULTIPLY: VATR 12% 0.12
VALUE ADDED TAX PHP 891,117.50

6. ASSESSMENT OF TOTAL DUTY, TAX, ETC

CUSTOMS DUTY PHP 1,156,195.00


ADD: VALUE ADDED TAX 891,118.00
CDS 130.00
IPC 2,000.00
AD VALOREM TAX 2,400,000.00
CPF 100.00
TOTAL DUTY, TAX, ETC PHP 4,449,543.00

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