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QUESTION
Paco imported a car from Japan for his personal use. Total landed cost is Php 125, 000 including custom duties of Php 25, 000. How much is the VAT
Paco imported a car from Japan for his personal use. Total landed cost is Php 125, 000 including custom duties of Php 25, 000. How much is the VAT payable?
Select one:
a. Php 5, 000
b. None, because the importation is for personal use.
c. Php 15, 000
d. Php 2, 500
