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)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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