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Estimated Duties and Taxes - Beneco Water Turbines

The document provides a summary of estimated duties and taxes for imported goods valued at 1,847,806 Euro. It outlines the calculation of customs value, dutiable value, customs duty rate, and other fees like VAT, brokerage fees, and processing fees. The total estimated duties and taxes to be paid is 17,010,933 Philippine Pesos.

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Dianne Bernadeth Cos-agon
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187 views1 page

Estimated Duties and Taxes - Beneco Water Turbines

The document provides a summary of estimated duties and taxes for imported goods valued at 1,847,806 Euro. It outlines the calculation of customs value, dutiable value, customs duty rate, and other fees like VAT, brokerage fees, and processing fees. The total estimated duties and taxes to be paid is 17,010,933 Philippine Pesos.

Uploaded by

Dianne Bernadeth Cos-agon
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Estimated Duties and Taxes

1,847,806.00 Value in EURO

Customs Value (FOB/FCA) USD 2,159,715.65 Value in USD (1 euro= 1.1688 usd)
Freight 215,971.57
Insurance 43,194.31 CMO 22-2007
Dutiable Value in USD USD 2,418,881.53 = sum of FOB, FRT, and Ins
Prevailing Exchange Rate 53.5 Value In Php (1 usd= 53.5 php)
Dutiable Value in PHP ₱ 129,410,161.92 = DV in USD x E/R

Rate of Customs Duty 1% 8410- WATER TURBINES

Customs Duty ₱ 1,294,101.62 DV in Php x Rate of Customs Duty

COMPUTATION OF TAXABLE VALUE


Dutiable Value ₱ 129,410,161.92 up
Customs Duty ₱ 1,294,101.62 up
= DV x .00125 (applicable only for
Bank Charges - Letter of Credit Transactions)
Brokerage Fee 166,812.70 CAO 1-2001
40' = Php9,881/cntr
Arrastre 59,286.00 20'= Php4,307/cntr
40' = Php779.05/cntr
Wharfage 4,674.30 20'= Php519.35/cntr
Customs Doc Stamp 265 FIXED
Import Processing Fee 1000 CAO 2-2001
= sum of all the above (from DV to
Landed Cost/ VAT Base ₱ 130,936,301.54 IPF)
Rate of Value Added Tax 12%
Value Added Tax ₱ 15,712,356.18

COMPUTATION OF TOTAL DUTIES


AND TAXES TO BE PAID
Customs Duty ₱ 1,294,102 up
Value-Added Tax ₱ 15,712,356
Import Processing Fee ₱ 1,000 up
40' = USD10/cntr
Container Security Fee ₱ 3,210 20'= USD5/cntr
Customs Doc Stamp ₱ 265
TOTAL ₱ 17,010,933

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