Lucio imported brand new luxury car from Europe for personal use of Lucia. Total Landed cost was P13,000,000 exclusive of customs duties of P2,600,000,excise tax of P1,800,000, wharfage of 100,000, storage cost of 300,000 and facilitation cost of P1,200,000. How much is the VAT payable on this importation?

Lucio imported brand new luxury car from Europe for personal use of Lucia. Total Landed cost was P13,000,000 exclusive of customs duties of P2,600,000,excise tax of P1,800,000, wharfage of 100,000, storage cost of 300,000 and facilitation cost of P1,200,000. How much is the VAT payable on this importation?

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter16: Multijurisdictional Taxation

Section: Chapter Questions

Problem 17P

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