Example: In January 2020, Khaled (trader) imported goods costing JD 1,000,000, and pay JD 400,000 customs....

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Example: In January 2020, Khaled (trader) imported goods costing JD 1,000,000, and pay JD 400,000 customs. He baid JD 224,000 VAT on the total cost (1.4 m). The imported goods are subject to the VAT standard rate. Explain how to deal with VAT calculations assuming that Khaled's sales were as follows: Month 1: JD 600,000 Month 2: JD 700,000 Month 3: JD 500,000 Month 4: JD 750,000 Example: In January 2020, Khaled (trader) imported goods costing JD 1,000,000, and pay JD 400,000 customs. He baid JD 224,000 VAT on the total cost (1.4 m). The imported goods are subject to the VAT standard rate. Explain how to deal with VAT calculations assuming that Khaled's sales were as follows: Month 1: JD 600,000 Month 2: JD 700,000 Month 3: JD 500,000 Month 4: JD 750,000

Answer rating: 100% (QA)

Here are the steps to calculate VAT for Khaleds import and sales 1 Calculate the tot... View the full answer