Ad Valorem and VAT Computation on the Importation of 1981 Mercedes Benz 38950-TD
BIR Ruling No. 114-88 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Mar 18, 1988
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March 18, 1988 BIR RULING NO. 114-88 149 101 (A) 000-00 114-88 S i r : This refers to your note dated March 16, 1988 in effect, requesting a ruling on the computations of the ad valorem and value-added taxes on your importation of one unit of 1981 Mercedes Benz 38950-TD (2998 cc./1560 kgs.) The pertinent documents indicate that you have imported for personal use only one unit of 1981 Mercedes Benz 38950-TD (2998 cc./1560 kgs.) whose dutiable value in pesos has already been determined to be P85,389.80). In reply, please be informed that based on the foregoing information, you are subject to both ad valorem and value-added tax in accordance with the following computations: Excise Tax Dutiable value in pesos P85,389.80 Customs duty 42,694.60 Other Charges 700.00 P128,784.40 Plus: 10% 12,878.44 P141,662.84 ========== 50% Ad valorem tax P70,831.42 ========== For VAT Dutiable value in pesos P85,389.80 Customs duty 42,694.60 Excise Tax 70,831.42 Other Charges 700.00 P199,614.82 ========== 10% Vat 19,961.58 S U M M A R Y Excise tax P70,831.42 VAT 19.961.58 P89,793.00 ========= Very truly yours, (SGD.) EUFRACIO D. SANTOS Deputy Commissioner
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