Just found out that there are 2 ipads in the package total declared value of which is USD 1300. Here is the breakdown provided by customs
AMOUNT PAYABLE TO THE BUREAU OF CUSTOMS
1. CUSTOMS DUTY
Transaction Value 1,300.00
Insurance Premium (USD) 26.00
Freight Charges (USD) 55.00
Other Charges ( USD ) -
Dutiable Value (USD) 1,381.00
Exchange Rate (PHP) 43.018
Dutiable Value (PHP) 59,407.86
Rate of Duty 15%
CUSTOMS DUTY (PHP) 8,911.18 PHP 8,911.00
2. VALUE ADDED TAX ( VAT )
Dutiable Value (PHP) 59,407.86
Bank Charge (PHP)
Customs Duty (PHP) 8,911.18
Brokerage Fee (PHP) CAO 1-2001 4,000.00
Customs Documentary Stamps (PHP) 265.00
Import Processing Fee (PHP) 250.00
Total Landed Cost (PHP) 72,834.04
Value Added Tax Rate 0.12
VALUE ADDED TAX (PHP) 8,740.08 PHP 8,740.00
3. IMPORT PROCESSING FEE PHP 250.00
TOTAL AMOUNT DUE TO THE GOVERNMENT PHP 17,901.00