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    PRO-RATION Individual Vs Individual

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    Licardo, Marc Paulo
    The document discusses pro-ration or pro-rata computations which are used to calculate import duties and taxes for multiple items declared on a single import document. It provides an example of using individual values for each item like individual FOB, freight, insurance, etc. to calculate the dutiable value, customs duty, VAT and other figures for each individual item.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd

    PRO-RATION Individual Vs Individual

    Uploaded by

    Licardo, Marc Paulo
    290 views16 pages
    The document discusses pro-ration or pro-rata computations which are used to calculate import duties and taxes for multiple items declared on a single import document. It provides an example of using individual values for each item like individual FOB, freight, insurance, etc. to calculate the dutiable value, customs duty, VAT and other figures for each individual item.

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    Customs Computation

    Original Title

    PRO-RATION individual vs individual

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    The document discusses pro-ration or pro-rata computations which are used to calculate import duties and taxes for multiple items declared on a single import document. It provides an example of using individual values for each item like individual FOB, freight, insurance, etc. to calculate the dutiable value, customs duty, VAT and other figures for each individual item.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    290 views16 pages

    PRO-RATION Individual Vs Individual

    Uploaded by

    Licardo, Marc Paulo
    The document discusses pro-ration or pro-rata computations which are used to calculate import duties and taxes for multiple items declared on a single import document. It provides an example of using individual values for each item like individual FOB, freight, insurance, etc. to calculate the dutiable value, customs duty, VAT and other figures for each individual item.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    You are on page 1of 16

    PRO-RATION

    PRO-RATA COMPUTATION

    PRO-RATA COMPUTATIONS ARE


    GENERALLY USED FOR MULTIPLE
    ITEMS DECLARED IN THE SAD.

    THE COMPUTATION IS BASED ON


    THE PREMISE THAT EACH ITEM HAS
    DIFFERENT VALUES IN A SINGLE
    IMPORTATION.
    INDIVIDUAL VS. INDIVIDUAL
    INDIVIDUAL VS. INDIVIDUAL

    ‘’Individual vs. Individual’’ can only be used if


    given any of the following:
     INDIVIDUAL FOB VALUE
     INDIVIDUAL FREIGHT
     INDIVIDUAL INSURANCE
     INDIVIDUAL DUTIABLE VALUE
     INDIVIDUAL MISCELLANEOUS EXPENSE
    INDIVIDUAL VS. INDIVIDUAL

    1. Individual FRT2 = Individual FRT1 x Individual FOB2


    Individual FOB1
    2. Individual INS2 = Individual INS1 x Individual FOB2
    Individual FOB1
    3. Individual DV2 = Individual DV1 x Individual FOB2
    Individual FOB1
    4. Individual ME2 = Individual ME1 x Individual FOB2
    Individual FOB1
    INDIVIDUAL VS. INDIVIDUAL
    A shipment of general cargo arrived at Port of Cebu. The commercial
    invoice shows the following information:
    FOB ROD
    ITEM 1 - $ 8,000.00 5%
    ITEM 2 - $ 2,000.00 3%
    TOTAL FOB - $10,000.00
    The freight charges for item 1 was $800.00. The dutiable value for item
    1 was P403,200.00 and the miscellaneous expense for item 1 was
    P6,000.00. Use ROE P45.00/$1.00.
    INDIVIDUAL VS. INDIVIDUAL
    ITEM 1 ITEM 2 TOTAL
    FOB - $8,000.00 $2,000.00 $10,000.00
    FRT - 800
    INS ________ ________ ________
    CIF – ________ ________ ________
    ROE - P 45.00 P 45.00 P 45.00
    DV - P403,200
    ROD - 0.05 0.03 _________
    CUD - P P P
    INDIVIDUAL VS. INDIVIDUAL
    ITEM 1 ITEM 2 TOTAL
    DV - P403,200
    CUD - _______
    ME 6,000
    TLC – ________ ________ ________
    x 0.12 0.12 0.12
    VAT - P P P
    INDIVIDUAL VS. INDIVIDUAL

    Solve the following:

    a. FRT for Item 2


    b. DV for Item 2
    c. CUD for Item 2
    e. ME for Item 2
    f. VAT for Item 2
    INDIVIDUAL VS. INDIVIDUAL

    a. FRT for ITEM 2


    Individual FRT2 = Individual FRT1 x Individual FOB2
    Individual FOB1
    FRT2 = $800.00 x $2,000.00
    $8,000.00
    FRT2 = $200.00
    INDIVIDUAL VS. INDIVIDUAL

    a. FRT for ITEM 2


    Individual FRT2 = Individual FRT1 x Individual FOB2
    Individual FOB1
    FRT2 = $800.00 x $2,000.00
    $8,000.00
    FRT2 = $200.00
    INDIVIDUAL VS. INDIVIDUAL

    B. DV for ITEM 2
    Individual DV2 = Individual DV1 x Individual FOB2
    Individual FOB1
    DV2 = P403,200.00 x $2,000.00
    $8,000.00
    DV2 = P100,800.00
    INDIVIDUAL VS. INDIVIDUAL

    C. CUD for ITEM 2


    CUD2 = DV2 x ROD2
    CUD2 = P100,800.002 x 0.03
    CUD2 = P3,024.00
    INDIVIDUAL VS. INDIVIDUAL

    D. ME for ITEM 2
    Individual ME2 = Individual ME1 x Individual FOB2
    Individual FOB1
    ME2 = P6,000.00 x $2,000.00
    $8,000.00
    ME2 = P1,500.00
    INDIVIDUAL VS. INDIVIDUAL

    E. LC for ITEM 2
    LC2 = DV2 + CUD2 + ME2
    LC2 = P100,800.00 + P3,024.00 + P1,500.00
    LC2 = P105,324.00
    INDIVIDUAL VS. INDIVIDUAL

    F. VAT for ITEM 2


    VAT2 = LC2 x 0.12
    VAT2 = P105,324.00 x 0.12
    VAT2 = P12,638.88

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