Mr
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Mr. Dolinger imported various merchandise from abroad. The importation was invoiced at $5,000. Mr. Dolinger also incurred the following costs of importation: Insurance P4,000 Freight 15,000 Wharfage fee 4,000 Arrastre charge 7,000 Brokerage fee 8,000 Facilitation fee 5,000 Mr. Dolinger was also assessed P24,000 and P18,000 customs duties and excise tax, respectively. The applicable exchange rate was P42.50:$1. For each of the problems above:
1. Compute the Dutiable value
2. Compute the Custom duties
3. Compute the Total landed costs
4. Compute the VAT on importation
