As a tax consultant you are asked to study the effect of the Value Added Tax...

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As a tax consultant you are asked to study the effect of the Value Added Tax (VAT) tax on a certain imported product given the following information Importer: Purchase price 25,000 Sale Price 30,000 Wholesaler: Sale Price 39,000 Retailer: Sale Price 58,500 Calculate the final price that the customer will pay for this product and the amount of tax that will be paid by each of the 3 stages, given that the sales tax rate is 14% Make sure you show all the required transactions (Purchase, Sale and Tax Department) related to the three levels of the supply chain (Importer, Wholesaler, Retailer) (please approximate to the nearest Egyptian pound. No decimal points) As a tax consultant you are asked to study the effect of the Value Added Tax (VAT) tax on a certain imported product given the following information Importer: Purchase price 25,000 Sale Price 30,000 Wholesaler: Sale Price 39,000 Retailer: Sale Price 58,500 Calculate the final price that the customer will pay for this product and the amount of tax that will be paid by each of the 3 stages, given that the sales tax rate is 14% Make sure you show all the required transactions (Purchase, Sale and Tax Department) related to the three levels of the supply chain (Importer, Wholesaler, Retailer) (please approximate to the nearest Egyptian pound. No decimal points)

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Answers Valueadded tax VAT is a consumption tax on goods and services that is levied at each stage o... View the full answer