Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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.

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.

Step by Step Solution

3.38 Rating (151 Votes )

There are 3 Steps involved in it

Step: 1

Solution Page1 Amounts AED material Cost Snsutance 9 lbo000 lo00 F... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals of Physics

Authors: Jearl Walker, Halliday Resnick

8th Extended edition

471758019, 978-0471758013

More Books

Students also viewed these Accounting questions