Transfer and business taxes by ampongan 6th sol man 19
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EXERCISE 19 – 1
1.
a.
b.
c.
d.
Goods temporarily imported for repair, renovation,
modification of processing
Goods in PEZA, Cavite
Goods entered for transit
Goods deposited in a bonded warehouse
- No
- No
- No
- No
2. The Court of Tax Appeals held that as evidenced by commercial invoices, the local buyers,
not the Philippine branch of the nonresident corporation are the importers who are liable for
VAT on such importation (Kanematsu Corp., Manila Branch vs. CIR, CTA Case 4875, Feb.
12, 1997).
3.
Importation for resale, for use as raw material in the manufacture of a finished product, or
for personal use.
1. Value of goods per Bureau of Customs
Freight
Insurance
Bank charges
Customs duties
Arrastre charges
Wharfage dues
Brokerage fee
Total
Rate
VAT payable
250,000
20,000
75,000
4,000
75,000
5,000
3,600
4,500
437,100
12%
52,452
Note: The usual basis in computing the VAT is the dutiable value. However, if customs
duties is computed based on volume or quantity the proper basis is the invoice value.
2. The importation of the goods is subject to VAT. The amount of VAT payable on the
importation is P52,452.
3. If Atayza is a tax exempt person, he shall not be subject to VAT. However, Mr. Pusogac
shall be liable to pay the VAT because he shall be considered as the importer thereof.
