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April 7th, 2023 11:30 PM #11Masakit talaga when you exceed the P10k.
General non-essential goods are taxed at 20% net of excise and VAT, and then VAT's 12% is applied on top of that 20% so total tax is around 34.4%
Assuming item is P100, x 1.2 = P120, then x1.12 = P134.4
If your item is on the list na may excise taxes then that's on top of the other stuff pa.
Excise Tax - Bureau of Internal Revenue
Learned this lesson early 90s pa when I ordered something for my computer from Canada and had to pay so much in taxes. Hindi pa uso ata yung P10k na tax-free nun.Last edited by Dr.Kamiya; April 7th, 2023 at 11:32 PM.
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Couldn't have explained it better myself. This was the point I was making. They (either manually or...
SC (temporarily) stops NCAP