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Transaction Value Act

AN ACT AMENDING CERTAIN PROVISIONS OF PRESIDENTIAL DECREE NO. 1464, OTHERWISE KNOWN AS THE TARIFF AND CUSTOMS CODE OF THE PHILIPPINES, AS AMENDED, AND FOR OTHER PURPOSES

Republic Act No. 9135 | 2001-04-27

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

Section 1. Section 201 of the Tariff and Customs Code of the Philippines, as amended, is hereby further amended to read as follows:
 
"SEC. 201. Basis of Dutiable Value. - (A) Method One. – Transaction Value. - The dutiable value of an imported article subject to an ad valorem rate of duty shall be the transaction value, which shall be the price actually paid or payable for the goods when sold for export to the Philippines, adjusted by adding:

(1) The following to the extent that they are incurred by the buyer but are not included...