Question
Joan Jett's Big Bass Ice Cream shop is famous in Brampton, Ontario. She has made a decision to import a new flavour of ice cream
Joan Jett's Big Bass Ice Cream shop is famous in Brampton, Ontario. She has made a decision to import a new flavour of ice cream "I Love Rocky Road" from Buffalo, New York (USA). She plans to import the following shipment. 1900 small drums in 700 cases. Each small drum costs 36 USD. Customs duty is 1.5% and GST is 5% Answer the following questions (make no assumptions, use only the information given).
What trade agreements are between Canada and USA. Be very specific (no abbreviations) (1 mark) How did you find this information? (describe, do not give the link) (1 mark) If the exchange rate is 1.34 what are the VCC, VFD, Customs Duty, VFT, GST and total payable to CBSA (6 marks) If you add the VFD + the total payable to the CBSA what does this amount tell you as an importer. Be specific
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