Liza imported a car from U.S.A. for her personal use. Total landed cost is P3,000,000 excluding customs

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Liza imported a car from U.S.A. for her personal use. Total landed cost is P3,000,000 excluding customs duties of P100,000

How much is the VAT on importation?

Assume Liza subsequently sold the car to Earl, how much is the VAT on sale?

Assume Liza is VAT exempt but she subsequently sold the car to Alpha Company, a non-VAT exempt entity. Who is liable on VAT on importation?

Related Book For answer-question

International Business Law and Its Environment

ISBN: 978-1285427041

9th edition

Authors: Richard Schaffer, Filiberto Agusti, Lucien J. Dhooge

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Posted Date: Apr 01, 2023 12:37 AM

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Liza imported a car from U.S.A. for her personal use. Total landed cost is P3,000,000 excluding customs

Question:

Expert Answer:

For the first question the VAT on importation can be computed as follows ... View the full answer

International Business Law and Its Environment

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