Computations of Ad Valorem and VAT on 1 Unit of 1982 Fiat 132
BIR Ruling No. 131-88 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Apr 8, 1988
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April 8, 1988 BIR RULING NO. 131-88 101 (a) 114-88 131-88 S i r : This refers to your letter dated April 5, 1988 in effect, requesting a ruling on the computations of the ad valorem and value-added taxes on your importation of one unit of 1982 Fiat 132, No. 00114 (1995 cc/1,556 kgs.) The pertinent documents indicate that you have imported for personal use only one unit of 1982 Fiat 132 having a dutiable value in pesos in the amount of P49,911.04. cdt 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 P49,911.04 Customs duty 24,955.51 Other Charges 2,365.18 P77,231.73 Plus: 10% 7,723.17 P84,954.90 ========== 35% Ad valorem tax 29,734.00 For VAT Dutiable value in pesos P49,911.00 Customs duty 24,956.00 Excise Tax 29,734.00 Other Charges 2,365.18 P106,966.00 ========== 10% VAT P10,697.00 ========== SUMMARY Excise tax P29,734.00 VAT 10,697.00 P40,431.00 ========= Very truly yours, (SGD.) BIENVENIDO A. TAN, JR. Commissioner
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