IDNStudy.com, ang iyong mapagkukunan para sa mga sagot ng eksperto. Ang aming komunidad ay narito upang magbigay ng detalyadong sagot sa lahat ng iyong mga katanungan.
Answer:
BASIC CONCEPT:
Excise Tax is a tax on the production, sale or consumption of a commodity in a country.
APPLICABILITY:
On goods manufactured or produced in the Philippines for domestic sale or consumption or for any other disposition; and
On goods imported.
TYPES OF EXCISE TAX:
Specific Tax – refers to the excise tax imposed which is based on weight or volume capacity or any other physical unit of measurement
Ad Valorem Tax – refers to the excise tax which is based on selling price or other specified value of the goods/articles
MANNER OF COMPUTATION:
Specific Tax = No. of Units/other measurements x Specific Tax Rate
Ad Valorem Tax = No. of Units/other measurements x Selling Price of any specific value per unit x Ad Valorem Tax Rate
MAJOR CLASSIFICATION OF EXCISABLE ARTICLES AND RELATED CODAL SECTION:
1. Alcohol Products (Sections 141-143)
a. Distilled Spirits (Section 141)
b. Wines (Section 142)
c. Fermented Liquors (Section 143)
2. Tobacco Products (Sections 144-146)
a. Tobacco Products (Section 144)
b. Cigars & Cigarettes (Section 145)
c. Inspection Fee (Section 146)
3. Petroleum Products (Section 148)
4. Miscellaneous Articles (Section 149-150)
a. Automobiles (Section 149)
b. Non-essential Goods (Section 150)
c. Non-essential Service (Section 150-A) - RA 10963 [TRAIN Law))
d. Sweetened Beverages (Section 150-B)-(RA 10963 [TRAIN Law])
5. Mineral Products (Sections 151)
PERSONS LIABLE TO EXCISE TAX:
In General:
a. On Domestic or Local Articles
Manufacturer
Producer
Owner or person having possession of articles removed from the place of production without the payment of the tax
b. On Imported Articles
Importer
Owner
Person who is found in possession of articles which are exempt from excise taxes other than those legally entitled to exemption
Others:
On Indigenous Petroleum
Local Sale, Barter or Transfer
First buyer, purchaser or transferee
Exportation
Owner, lessee, concessionaire or operator of the mining claim
TIME OF PAYMENT:
In General
On domestic products
Before removal from the place of production
On imported products
Before release from the customs' custody
Explanation:
pA Brainlyiest heart and follow