Page 48 - ADVANCED TAXATION - Day 1 Slides
P. 48
Solution
48
The in-bond sale of the golfing equipment will be zero-rated.
The VAT levied on importation will be the greater of
R
Customs duty value 250 000
Add: 10% of customs duty value 25 000
Add: Importation surcharges 7 400
282 400
Or
The consideration of the in-bond supply 300 000
× 14%
VAT levied on importation 42 000
