Excise Tax

Question 1

EXCISE TAX
- indirect tax
- in addition to VAT or OPT
- Base → which is computed first? VAT or Excise?
- what is the timing?
- who is the taxpayer?

Answer 1

Base → exclusive of VAT
Timing → before removal from production or BOC
Taxpayer → producer or importer

Question 2

AD VALOREM TAXES
- based on value (GSP)
- AMIN

What is A? What are excluded from A?

Answer 2

AUTOMOBILES
- excluding BTS JEEP
- Bus, Truck, Special Purpose Vehicles
- JEepney, Electric Vehicles, Pick Ups

NOTE : Hybrid Vehicles→ 50% exempt

Question 3

AD VALOREM TAXES
- based on value (GSP)
- AMIN

What is M?
What is I? What is the rate for I? What are excluded from I?

Answer 3

MINERALS
- mineral products, quarry resources

INVASIVE COSMETIC SURGERY
- 5% of gross receipts
- excluding non invasive, to cure defect

Question 4

AD VALOREM TAXES
- based on value (GSP)
- AMIN

Examples of N (JYP)

Answer 4

NON ESSENTIAL GOODS (JYP)
- Jewelry → whether fine or imitation
- Yacht / Vessels → for pleasure
- Perfumes

Question 5

SPECIFIC TAXES
- based on unit of measurement
- PTAS

What is P? What is T?
What is A? What are excluded from A?

Answer 5

PETROLEUM

TOBACCO

ALCOHOL PRODUCTS
- excluding tuba, basi, tapuy

Question 6

SPECIFIC TAXES
- based on unit of measurement
- PTAS

What is S? What are excluded from S (MENAMIC)?

Answer 6

SWEETENED BEVERAGES
- excluding MENAMIC
- Meal Replacement / Medical
- Natural Fruit and Vegetable Juice (100%)
- Milk Products
- Coffee

Question 7

What items are both specific tax and ad valorem tax?

Answer 7

1. Cigars
2. Distilled Spirits