A French company imports goods with transaction value at EX-Works €8000, transport cost is €650 and insurance cost €350, import tariff is 15% and VAT rate 20%. Calculate how much the company should pay for the import tariff and VAT.

A French company imports goods with transaction value at EX-Works €8000, transport cost is €650 and insurance cost €350, import tariff is 15% and VAT rate 20%. Calculate how much the company should pay for the import tariff and VAT.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

1. A French company imports goods with transaction value at
EX-Works € 8000, transport cost is €650 and insurance cost
€350, import tariff is 15% and VAT rate 20%. Calculate how
much the company should pay for the import tariff and VAT.

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