Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In Delivered Duty Paid (DDP) Incoterm, the seler is responsible for arranging carriage and delivering the goods at the named place, cleared for import and

image text in transcribed
image text in transcribed
image text in transcribed
In Delivered Duty Paid (DDP) Incoterm, the seler is responsible for arranging carriage and delivering the goods at the named place, cleared for import and all applicable taxes and duties paid (e.g. VAT, GST)? True False QUESTION 8 Within the GCC tegion, generally ad valorem customs duty rates apply to imported goods. Amy exceptions, such as specific duly rates that are based on weight or volume, are not eupected to apply for the companies in normal course of business? True False QUESTION 9 The GCC countries allow 0C0CX, allowing the customs duty that would be due on the import to be suspended within the provisions of Articie 89 and 90 of the GCC Common Customs Law. Pemanent imports Temporacy imports Import for further export None of the above The risk or labilty for the goods transfers from the seler ta the buyer when the goods are made avelable at the named plece. This is an example of incoterms: Delivered Duty Paid (DDP) Ex-Works (EXW) Cost insurance Freight (CFF) None of the above QUESTION 14 The Statue of Limiations for the Customs offences in case of Smuggling cases is: 5 years. 15 years 20 years Whole Life QUESTION 15 XXOOXX origin is much stricter and determines whether goods are entiled to special duty advantages arising trom a particular trade agreement Preforential Nonuprefernitial Prefarred Non-preferred The rate of customs duty for the imported goods in the UAE mainland is: 10% 5% 0% 2.5%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Acca F7 Financial Reporting Practice And Revision Kit

Authors: BPP Learning Media

1st Edition

1472726898, 978-1472726896

More Books

Students also viewed these Accounting questions

Question

6. Identify characteristics of whiteness.

Answered: 1 week ago

Question

e. What are notable achievements of the group?

Answered: 1 week ago