Doka LLC based in the UAE mainland area is engaged into imports of construction frameworks (raw material). The cost of this material is AED 100,000. The insurance and freight is 1% and 2% of cost respectively. Keeping in view the rate of customs duty 5% and rate of VAT 5%, please calculate the amount of VAT reported by Doka LLC to the FTA under reverse charge basis on behalf of the foreign supplier.

Answer rating: 100% (QA)

Solution Page1 Amounts AED material Cost Snsutance 9 lbo000 lo00 F... View the full answer