A Vehicle with spark-ignition engine of cylinder capacity greater than 3000cc is purchased and the following information
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Question:
A Vehicle with spark-ignition engine of cylinder capacity greater than 3000cc is purchased and the following information are given pertinent to the purchase. Calculate the total tax payable at the port
¤Purchase price = $5,000
¤Exchange rate : $1 = 23 birr
¤ Freight = 3,000 Birr
¤Insurance = 2,000 birr
¤Duty Rate: 35%
¤Excise Tax: 100%
¤VAT: 15%¤Sur Tax: 10%
¤Withholding tax: 3%
Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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