Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mondelez LLC is based in the UAE mainiand ares and is engaeed in the import of row material ( Sugar , chocolate powder etc. )

Mondelez LLC is based in the UAE mainiand ares and is engaeed in the import of row material (Sugar, chocolate powder etc.) from SA. The cost of this raw material is AED 950,000. The importer of record has to pry 2% of thi cost in terms of insurance, and 3% of this cost in terms of freight. Please calculate the amount of customs duty paid by Mondelez in these two scenarios:
All the conditions of GCC free trade agreement are met.
Assume that exporter is unable to meet the conditions of GCC FTA whilst sending the shipment and Mondelez LLC has to pay import duty in the UAE. Also, please assume that the rate of customs duty for the associated HS codes is 5%.
image text in transcribed

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

No Nonsense Project Auditing A Practical Guide For The PMO

Authors: Lisa Nash

1st Edition

0993403522, 978-0993403521

More Books

Students also viewed these Accounting questions

Question

What were your most important educational experiences?

Answered: 1 week ago

Question

Which personal relationships influenced you the most?

Answered: 1 week ago