Al Mdina Traders based in Shrjah mainland area imported 100 mobile phones from China. The transaction value of goods ("Cost) is AED 2.000 per each mobile phone. The "Insurance" paid is 1% on the cost of goods and the Freight" paid is 2% based on the cost of goods Keeping in view the rate of custorts duty is 5%, please calculate the customs duty paid by Al Madina Tradere to Sharjah Customs Authority? Hint The Incoterms used for the Customs declaration purposes = CIF (Cost Insurance Freight)

Al Mdina Traders based in Shrjah mainland area imported 100 mobile phones from China. The transaction value of goods ("Cost) is AED 2.000 per each mobile phone. The "Insurance" paid is 1% on the cost of goods and the Freight" paid is 2% based on the cost of goods Keeping in view the rate of custorts duty is 5%, please calculate the customs duty paid by Al Madina Tradere to Sharjah Customs Authority? Hint The Incoterms used for the Customs declaration purposes = CIF (Cost Insurance Freight)

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter9: Taxation Of International Transactions

Section: Chapter Questions

Problem 27P

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