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Import - Export Exercise

The document contains three exercises involving import and export transactions for an import-export company and beverage manufacturer. It provides details of shipments imported and exported including quantities, values, tax rates, and sales. The exercises require calculating the import and export taxes owed based on the transaction information and Vietnam's tax rates.

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46 views

Import - Export Exercise

The document contains three exercises involving import and export transactions for an import-export company and beverage manufacturer. It provides details of shipments imported and exported including quantities, values, tax rates, and sales. The exercises require calculating the import and export taxes owed based on the transaction information and Vietnam's tax rates.

Uploaded by

tdat86860
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Exercise 1:

The import-export company in year N had the following transactions:

1. Importing a batch of components and machinery. The total value of imported goods under CIF terms
is 28.4 billion VND. Import tax rate is 20%

2. Import 3 shipments from the US under FOB terms,

- Shipment A includes 250 products; unit price is 300 USD/product, insurance is 2% of FOB price,
transportation cost is 3,000USD. Import tax rate is 10%

- Shipment B includes 180 products, unit price is 218USD/product, insurance is 3% of FOB price,
transportation cost is 4,000USD. Import tax rate is 30%

- Shipment C has a total value of 40,000 USD, insurance is 5% of CIF price, transportation cost is
5,000USD Import tax rate is 25%.

3. Receiving entrustment to export a shipment D under CIF terms with a total value of 52,000 USD.
Insurance transportation costs for the entire shipment are 2% of the FOB price. Export tax rate is 5%

Requirement: Calculate the amount of export and import tax that the company must pay in year N, 1
USD = 25,000 VND

Exercise 2:

An enterprise manufacturing and trading beverages had the following situation:

- Importing 3,000 boxes of beer, the import tax price was 4,500 VND/box. The enterprise sold all of this
beer at a VAT-exclusive price of 16,000 VND/box.

- Importing200,000 bottles of 18-degree wine at FOB price of 8 USD/bottle, shipping and insurance fees
for the entire shipment of 80,000 USD. Then the enterprise sold to another enterprise in the export
processing zone 100,000 bottles at a price of 200,000 VND/bottle. The remaining amount was sold to a
domestic enterprise at a VAT-exclusive price of 260,000 VND/bottle.

Determine the taxes that the enterprise must pay in each situation?

Known that: - The import tax rate for canned beer is 35%, alcohol is 40%; The special sale tax rate for
canned beer is 65%, alcohol under 20 degrees is 35%. The VAT rate on the above products is 10%. 1USD
= 25,000 VND

Exercise 3:

An enterprise had the following situation:

1. Importing 1000 bottles of foreign wine, the import value is 150,000 VND/bottle. During the procedure
at the Customs management area, 150 bottles of this wine were completely broken (with Customs
inspection). The enterprise consumed all imported foreign wine at a payment price of 600,000
VND/bottle.
2. Buying 9,000 bottles of wine from a domestic production enterprise for export according to an
economic contract signed with a foreign company. The VAT exclusive price is 50,000 VND/bottle. During
the period, the company exported 8,000 bottles at the FOB price of 60,000 VND/bottle. The remaining
amount is not exported but for domestic consumption at a VAT exclusive price of 66,000 VND/bottle.

3. Receiving entrusted import of 40 cars for company A, import value is $10,000/car. International
transportation insurance fee is calculated at 2% of import value. Company A has paid a commission (not
including VAT) calculated at 4% of the import taxable value. The company has paid all taxes to company
A and fully delivered the goods.

Requirement: Determine the taxes in each situation

Known that: The import tax rate for alcohol is 50%, cars 50%. Wine export tax 5%. Excise tax rate on
foreign liquor, wine 50%, automobile 60%. VAT rate of goods, commission 10%. 1USD = 25,000 VND

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