EVAT Impact on Sea Freight Rates

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ERB NO. 98-06: EVAT Impact on Sea Freight Rates

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Title Supreme Court: EVAT Impact on Sea Freight Rates

Law: Erb No. 98-06

Decision Date: Mar 24, 1998

The Board, led by Chairman Neptali S. Franco, resolves to adjust sea freight rates to account for the impact of the EVAT law, ensuring shipowners can recover their expenses while incorporating the 3% common carriers tax.

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Clarification on EVAT Component in Rate Formula

In the decision dated September 11, 1996, in ERB Case No. 96-67, it was affirmed that the EVAT component in the automatic rate adjustment formula is 10%, which includes the 3% common carriers tax.

Prior Board Action on EVAT Law Issue

The matter regarding the EVAT law had been previously addressed by the former Board via a letter dated February 27, 1991, signed by Commissioner Arnaldo P. Baldonado.

Adoption of Previous Board Resolution

The current Board resolves to adopt the action taken by former Board Member Arnaldo P. Baldonado regarding the EVAT law as stated in the letter dated February 24, 1997.

Formalization and Official Approval

The Resolution was formally adopted on March 24, 1998.
Official signatories include Chairman Neptali S. Franco and Board Members Melinda L. Ocampo, Artemio P. Magabo, and Bernarda C. Lavisores.

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