PRACTICAL COMPUTATION Flashcards by MICHAELA GUIPO

Importer: Filipino Returning Resident
Shipment: 1 unit – Automobile, 3 yrs old, 5-seater
Book Value: $ 15,750.00
DV&CUD: P 750,083.10
Total ME: P 7,536.25
Violation: No certificate of authority to import
Find: AMOUNT OF FINE PER SEC 1124, CMTA

P 227 285.81

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500 CTNS – CANNED GOODS

T. Invoice Price - $ 15,650.80

Inclusive of ff:

Internal Ins: $75

Origin LCL Charges: $100

Pre Carriage Charges: $150

Ocean Frt Charges: $ 1 150

Port to port insurance: $300

Delivery by seller: on board vessel

ER: P 50.175

FIND EXWORKS

$13,875.80

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Sweetney Consumer Goods Trading imported 600 Drums of Coconut Oil with an invoice price of a Total CIP of $35,926.00. Ocean FRT per B/L shows $40 per CBM. The shipment has a total volume of 2 500 cu.ft . The amount of freight appearing on the invoice is $ 2 750 while the port-to-port insurance is said to be 4% of the total FCA. Find the total FCA Value.

$ 31,900

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Shipment: 2x20’ STC Frozen Pork

D/T & O/C : P 1,312,500.00 (per SAD)

D/T & O/C: P 1,750,000.00 (per PCAG findings)

Reason for Deficiency: Negligence

Payment Made: 9 months after receipt of final assessment from PCAG
Find TOTAL AMOUNT PAID TO BOC

P 1 476 562.50

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Several bottles of men’s perfumes arrived at NAIA with a total dutiable value as declared amounting to P 772 560. The declared quantity was said to be 1,800 bottles. Miscellaneous expense as found costs $ 7 884.05. The Bureau of Customs forfeited the said shipment since the declared quantity is 40% lower than AS FOUND quantity. Find the Total Redemption Value if the rate of duty is 7%

P 1 385 616.05

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2500 CTNS FROZEN MACKEREL

Dimension: 175mm x 250mm x 425mm per carton

Gross weight: 18.5 kgs/ctn

Find: Total Arrastre Charge per SAD – pier side discharging at South Harbor. Net of VAT

P 30, 862.72

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5x40 Sodium Peroxide

Total Payload: 53 560 kgs

Total GW: 61 120 kgs

Port of Discharge: via pierside at South Harbor

Find: Arrastre Charge, VAT excluded

P 47,030.50

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An importation of 2,500 bottles of men’s perfumes with an invoice price of $ 11,100.00 (as declared) arrived in MICP. The declared quantity is 1,500 bottles. The total Miscellaneous Expense found was P 7,844.05. The penalty imposed on the said importation is forfeiture but allowed to pay redemption value. With an exchange rate of P 54.150/$1.00 and rate of duty of 7%, find the total redemption value.

Php. 1,079,743.30

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Shipment 1 unit –Automobile powered by electricity & gasoline 2024 yr model 5 seater 2000cc

Importer: Customs Broker

Total CIF : EUR 52 750

T. FRT $ 2 750

T. Marine Insurance : $ 950

T. ME: P 14 263 . 80

ER: $ 1.16790 / EUR 1

P 58.9941 / EUR 1

P 56. 515 / $ 1

FIND AVT

P 1 014 946.05

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Shipment: Various raw materials temporarily stored at a CBW
Total D/T & O/C : P 1,750,200.00

Violation: Goods withdrawn without filing any withdrawal permit

Payment Made: 180 days after withdrawal

Find: TOTAL AMOUNT PAID TO BOC PER SEC. 1422, CMTA

P 2 887 830.00

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Shipment: Wearing Apparels

D/T per SAD: P 4,350,500.00

D/T per LBD: P 4,975,150.00

Paid by Importer: 18 months after receipt of notice

Find: TOTAL AMOUNT PAID TO BOC PER SEC. 1425, CMTA

P 1 015 056.25

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Shipment: Cotton Fabrics

As declared: 4,250 yards

As Found: 5,000 yards

Unit DV: P 125.00 per foot

Total ME: P 27,318.85 (as found)

Rate of duty: 7%

Other violation: Altered Invoice

Find: AMOUNT OF SURCHARGE PER SEC. 1400, CMTA

P 1 876 390.00

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2x20 Van STC Frozen Chicken Wings from Jeju Province, Korea arrived in the Philippines with an invoice price of $25,625. The incoterm used in the said shipment is Free on Board. As per the Bill of Lading it was indicated that the value of freight is $6 000 with certificate as proof from the Shipping Lines. Find the Dutiable Value if the given exchange rate is P 55.275/ $1 .00.

P 1,810,256.25

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50 CRATES with a dimension/crate: 600 mm x 900mm x 1,100mm of Automobile Spare Parts were discharged at MICP and were transferred to: Off dock CY: CFS for Stripping. If the said shipment has a gross weight of 550kgs per crate, find the total arrastre charge paid to CBW Operator.

P 12 474

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1X20 Mens overcoat from China unloaded at South Harbor, Manila

Total CPT : $ 23 425.80 charged by importer to seller
Labels made in HKG $100 (1/3 of actual value)
FRT/INV: $1,200

FRT/BL: $ 1 300

Selling Commission: 1% of invoice price paid to selling agent
ER: P 50.341 / $1

Delivery by seller: On board vessel
Find: Total Transaction Value per Method 1

P 1 380 781.34

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Shipment: 350 cases – wines
Total ET: P 85,181.25
DV as declared: P 199,749.38

DV as found: P 266,332.50

Total ME: P 6,815.00 (as found)

Rate of duty: 7%

Find: AMOUNT OF SURCHARGE FOR UNDERVALUATION PER SEC. 1400, CMTA

P 372 652.50

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A car dealer imported 25 units of 2024 Hybrid Automobiles with a value of Net ISP/unit of P 950,000. FIND: Total AVT inclusive of VAT

P 1 330 000

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Shipment: 2 units – Lathe Machines

TOTAL CIF: $31, 250

1st Transaction: Filling of transfer permit

2nd Transaction: Filling of Formal Entry

ER: P 56.880

Find: TOTAL BF, Paid by importer

P 9,600.50

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An importation of twenty (20) boxes of Atlantic Salmon with a dimension of 1.5ft x 2ft x 3ft and an actual gross weight of 40kgs per box were discharged at NAIA. Find the total surcharge paid to CBW if the delivery happened two (2) days after the date of arrival.

P 19 677.84

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30 cartons of frozen chicken cuts arrived at Ninoy Aquino International Airport and were released from the Bureau of Customs 3 days from the date of arrival. Each carton had a dimension of 18in x 24in x 36in with individual weight of 42 kilograms. Which is the total storage fee paid to pier cargo?

Php. 29,516.76

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2x40 Soft Wheat flour in bags arrived at MICP with total invoice price of $ 17, 500 exclusive of ocean freight amounting to $ 2, 500. The said importation has a local insurance premium of P 38 539 (without cert/or). The total vat base costs P 1,414,668.23 while the total miscellaneous expense is P 18,592.50

Find the total duties, taxes and other charges if the rate of duty is 15% and the exchange rate is P 56.675/ $1.00

P 395 077

Shipment: Steel Bars

Total DV: P 3,137,750.50

R/D as declared: 5%

R/D as found: 7%

Total ME: P 11,737.20 (as found)

Find: AMOUNT OF SURCHARGE FOR MISCLASSIFICATION

P 1 559 847.50

12X20 Containers – various wooden furniture bound for Ontario Canada pier side at MICT for loading to carrying vessel However, processing of export documents was delayed at BOC. Thus, said containers were not loaded with vessels & were hauled back to container yard for temporary storage. Determine the total amount paid to ICTSI.

P 103 904.64

GIVEN

Shipment: 1x20’ STC Steel Wire

As declared: 1,750 meters

As found: 2,500 meters

Unit DV: P 250.00 per meter

Total LC (as found): P 685,488.80

Total ME: P 16,738.80

Rate of Duty: 7%

Find: AMOUNT OF SURCHARGE PER SEC 1400, CMTA

P 315 022.50

Given: Shipment 10 boxes Electric Motors Total Invoice Price: $35,850.25 Inclusive of the ff: Export Clearing $250 Packing Charges: $200 Port to Port Insurance: P 20,750 Delivery by the seller: Warehouse of Shipping lines Main Carriage: $ 1,850 (collect) FIND TOTAL EXW VALUE

$35 400.25

There was a tourist arriving in terminal 3 of Ninoy Aquino International Airport with 30 undeclared bottles of ladies’ perfumes. Using the rate of duty of 7%, the Bureau of Customs assessed the shipment with a dutiable value amounting to Php. 49,750.00. Find the amount due to the Bureau of Customs per Sec. 1404 of the CMTA.

Php. 37,292.00

A shipment of 150 units of Paper Shredders with CV/SAD of $100 per unit was rejected by the Bureau of Customs. As per BOC, No Value was established under Methods 1, 2, & 3. The Total Ocean Freight value is $ 1, 500. BOC Survey in domestic market of similar goods a.) Sale no. 1 – 200 units – P 8 500/unit b) Sale no. 2 – 150 units – P8750/unit c) Sale no. 3 – 50 units – P 8950 / unit d) Sale no. 4 – 100 units– P 8750/ unit Other info: Sales Profit / Gen expenses – P 1 100 / unit Domestic Freight / insurance– P 50 / unit Import duties & taxes– P 650 / unit ER: P 56.250 / $1 FIND: TOTAL DEDUCTIVE VALUE PER METHOD 4

P 1 042 500

1X40 STC Frozen Beef Angus was discharged at MICP from Indonesia with certificate of origin. The said shipment has a total CIP value of $ 39 950.25. The total landed cost of the importation was P 2 055 142.77 while the total miscellaneous expense was P 15 432.80. The rate of duty of the shipment was MFN 40%; ATIGA 5%. It was found that all ASEAN Member States were enjoying the concession in that shipment. With an exchange rate of P 56.625 / $1, find the total amount paid to the Bureau of Customs.

P 906 719

3x20 vans of steel wire mesh arrived at the Port of Cebu with a total Invoice Price amounting to $ 20 875.50 inclusive of packing handling charge of $200. The Delivery of the seller was on board at a port in Taiwan. It shows that FRT/INV is $ 3, 300 while FRT/BL is $ 3500. The Bureau of Customs assessed the shipment which appears that the Total Landed cost is P 1,060,115.35. Find the total duties, taxes and other charges if the exchange rate is P 56.438 / $1 and the rate of duty is 1%.

P 195 610

Shipment: Fish in cartons Unit DV: P 120.00 per kg Weight as declared: 17,595 kgs (lower by 15%) Total ME: P 16,382.95 (as found) Rate of Duty: 5% Find: TOTAL SURCHARGE FOR MISDECLARATION

P 1 097 874.88

An importer named Arvin Alonzo import a unit of 2024 yr model automobile using electric & gasoline for motive power with 5-seater and 1800cc engine displacement. The Customs Value costs $ 10 346.40 while the freight costs $ 1,050. The said shipment assessed a dutiable value of P 575 749.98 with miscellaneous expense value of P 7 310.23. Find: AVT, inclusive of VAT if the exchange rate is P 48.750.

P 42 323.97

3x40 VAN 6 units SUV Automobiles 2024 yr model Port of discharge : Port of DAVAO Total CFR: JPY 16,802,610 TOTAL FRT/INV : $ 5 500 Origin In.FRT: $750 T.FRT/BL : $ 5 550 ER: P 56.825 / $1 P 0.4406 / JPY 1 $ 0.009195 / JPY 1 FIND TOTAL DV

P 7 689 698.91

GIVEN Shipment: 3x20’ STC Rice As Declared: 810 Bags As found: 1,350 Bags Total FOB: $ 23,890.00 (as found) Total Frt: $ 4,500.00 Total ME: P 22,654.00 Rate of Duty: 40% Exch. Rate: P 51.502/$1.00 Penalty: Forfeiture Find: TOTAL REDEMPTION VALUE

P 2 138 553.93

Shipment: Xray Machines Balance Found: P 225,030.00 (per LBD) Amount of Surcharge: P 56,257.50 Paid by Exporter: 15 months after receipt of notice of final assessment Find: TOTAL AMOUNT PAID TO BOC PER SEC. 1425, CMTA

P 351 609.38

50 CRATES – Automobile Spare Parts Port of Discharge : South Harbor, Manila Transferred to: Off dock CY: CFS for Stripping Dimension/crate: 600 mm x 900mm x 1 100mm GW/crate : 550 kgs Find TOTAL ARRASTRE CHARGE PAID TO CBW OPERATOR

P 12 474

25 crates waste papers (dangerous good) Off Dock CY/CFS Manila 60cm x 90cm x 110cm per crate GW: 550 kgs per crate Delivery: 4 days from date of stripping Find: Total Storage Charges paid to CBW Operator

P 6 652.80

Pasig Medical Enterprise purchased several X-Ray machines from Lodilab International OPC. with an invoice amounting to $ 30, 246.35 inclusive of airfreight charges of $ 2 975 and handling charges of $120. Lodilab is selling agent of Rezza’s Corporation in US which required all importers of their X-ray Machines to pay Lodilab a selling commission equal to 2.5% of invoice price. However, Lodilab was required by Pasig Med. Enterprise to conduct nationwide advertisement for the said machines and was paid by Paid Med an additional 1% of the invoice price for said advertisement campaign. Compute for the total transaction value if the exchange rate was Php 47.874/$1 and freight charges per airway bill was paid at $ 2 995?

P 1 537 395

Shipment: Sanitary Towels Total EXW: $ 16,275.00 Total FRT: $ 1,300.00 Handling Charges: $ 125.00 Export Clearance: $ 75.00 Rate of Duty: 7% Exch. Rate: P 50.885/$1.00 BOC FINDINGS: Gross Undervaluation Find: TOTAL BOC ACQUISITION COST

P 902 817.70

500 drums of clay arrived at Port of Batangas with an invoice price of $ 18,500 WITH L/C, inclusive of Pre-Carriage $ 375, Export Clearing $200, Ocean FRT: $ 1500, Insurance: P 14 206.25 (with cert & or), and AC/WD: P185.65/MT. The Total Landed Cost of the shipment is said to be P 1 109 211.24. With 3% as the rate of duty, what is the total duties, taxes, and other charges if the exchange rate is P 56.825.

P 215 083

A shipment of 5,000 pcs of Mahogany logs from Cambodia arrived at MICP consigned to Alonzo Factory in Batangas. If each log had a volume of 5 cubic yards, which is the total arrastre charge paid to ICTSI?

Php. 218,484.00

1000 Bottles of Brandy from Singapore arrived in South Harbor, Manila with an invoice price of a Total CFR of $ 27 850 which said to have a Certificate of Origin Form D. Freight in the invoice amounting to $ 2 000 while the freight appears in the bill of lading costs $ 2 100. Other information is excise tax and miscellaneous expense which are P 134 375 and P 14 331.25 respectively. In the AHTN the ASEAN Membership enjoying concession in the said shipment shows except ID, SG, & BN. It appears that the rate of duty is MFN 15; ATIGA 0%. Find the total duties, taxes and other charges if the exchange rate is P 56.475 / $ 1.00

P 624 919

3x40 STC: Hair Brushes Total CFR: $37, 630 Total Vat Base: P 3 047 783.82 Total ME: P 22 426.32 VAT: P 365 734.06 ROD: 10% Find: TOTAL BF DECLARED IN ENTRY *

P 8,487.91

Shipment: 1x20 van – drums – lubricating oils Total CIF: $19 674 Frt/Inv: $1 500 Frt/BL: $1 600 Pre Carriage: $200 Marine Insurance: 4% of Total FOB FIND: TOTAL FOB VALUE

$17,475

Importer: Charah Apang 1 x 20 van STC : 1 unit traditional passenger van 2024 11 seater not for sale Total FRT: $ 1 250 Customs Value: $ 15 650 Total ME: P 11, 471.90 ER: P 48.850 Find: AVT

P 207 769.20

An importation of 50 crates of various steel tubes arrived in South Harbor, Manila with a given CFR amounting to $ 25, 750.00. It is said to have ocean freight of $ 1,950.00 while the freight per bill of lading was $ 2,000.00. The Bureau of Customs found out that the said importation has no country of origin on crates. Find the total marking duty if the exchange rate is Php. 48.725 / $ 1.00.

Php. 64,014.91

200 drums of Asphalt arrived at Port of Batangas with a CIF Value of $ 38,115.67. Ocean Freight is $ 5% of Total FOB while the marine insurance is 4% of total FOB. If the other charge of the shipment is 3% of the total EXW, what is the total EXW value?

$ 33,950

PRE-FABRICATED STEEL STRUCTURE Balance Found: P 360 950 (per LBD) Paid by Importer: 15 months after receipt of Notice of Liquidation Find: TOTAL AMOUNT PAID TO BOC per SEC 1425

P 563 984.38

GIVEN: Total CIP Value: $26,320 Main Carriage: 8% of TOTAL FOB Internal Insurance: $100 Port to Port Insurance: 4% of total FOB FIND: TOTAL FCA

$23,500

Total Invoice Price: $17,400 Export Clearing: $30 Origin Inland Frt: $ 60 Main Carriage: $ 1750 Port to Port Insurance: $ 150 Delivery: Carriers Custody FIND: TOTAL FCA

$15,500

Anna Reduta imported 30MT Dolomite in bags from Germany. The said shipment has a normal value amounting to $ 394.14 / MT while the FOB Price is $ 317.13 / MT. Find the Dumping Margin if the exchange rate is P 50.365/ $1.00

0.2428 / 24.28%

CONSIGNEE: NFA Shipment: 5MT Wheat in bulk Total CFR: $ 36 500 FRT/INV: $ 3 550 FRT/BL: $ 3 600 ER: P 55.325 / $1 FIND TOTAL DV

P 2 097 813.35