Exchange Rate Rules for Tax Assessment

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BOC MEMORANDUM ORDER NO. 24-95: Exchange Rate Rules for Tax Assessment

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Title Source: Supreme Court: Exchange Rate Rules for Tax Assessment

Law: Boc Memorandum Order No. 24-95

Decision Date: Sep 12, 1995

Effective September 15, 1995, the Bureau of Customs mandates the use of the Central Bank's weekly exchange rate for duty and tax assessments, simplifying currency conversion by directly converting foreign currencies to Philippine Pesos.

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