Calculation Worksheet
Question la
Company Triple X imports both White Refined Sugar and Frozen Cheddar Cheese. Due its
nature and urgency the Frozen Cheddar Cheese was air freighted and arrived at the Donald
Sangster International Airport Air Cargo Warehouse. The freight cost is $5000.00USD for 2000
boxes of 100 cans with 1000 grams of cheese and insurance amount is $500.00USD for the
shipment. The broker informs for Cheese, the Import Duty (ID) rate is 5%, and the Dairy Cess
rate is $8.2180 per Kilogram. The invoice value for the shipment of cheese is $15,000.00USD.
The other shipment a 20' container of white refined sugar arrived at Kingston Wharves Limited.
The invoice value for the sugar is $12000.00 USD. The freight cost is $1200.00USD for
4,000,000 grams. The broker informed that for Sugar, the ID rate is 40%, the Additional Stamp
Duty (ASD) rate is a flat 63%.
Given that:
.
▪ General Consumption Tax (GCT) is 20%
■
Standard Compliance Fee (SCF) is 0.3%
Environmental Levy (ENVL) is 0.5%
Stamp Duty is $5000.00JMD per shipment
Exchange ratio is IUSD: 145JMD
.
Customs Administration Fee is $20,000.00JMD per shipment
Calculate all duties and taxes payable and the total sum payable by Company Triple X for the
shipments.