A Vehicle with spark-ignition engine of cylinder capacity greater than 3000cc is purchased and the following information

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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 answer-question

Intermediate Accounting Reporting and Analysis

ISBN: 978-1285453828

2nd edition

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

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Posted Date: Feb 29, 2024 10:04 PM

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A Vehicle with spark-ignition engine of cylinder capacity greater than 3000cc is purchased and the following information

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To calculate the total tax payable at the port we need to consider the following components 1 Custom... View the full answer

Intermediate Accounting Reporting and Analysis

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