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- Correct valuation of imports such that there is no under valuation.
- Impose stiff penalties on customs duty defaulters.
- Destruction of counterfeit goods which could be of low value compared to the original goods.
- Tightening controls at the point of entry to eradicate corruption among customs officers.
- Adequate documentation using import declaration form importer code numbers, personal identification numbers and clean report of findings.
- Use of information systems that are up to date and secure to capture all import data very
fast and to give timely reports on duty payable
Wilfykil answered the question on February 15, 2019 at 05:59
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Date posted: February 15, 2019. Answers (1)
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Date posted: February 15, 2019. Answers (1)
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Date posted: February 15, 2019. Answers (1)
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Date posted: February 15, 2019. Answers (1)
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Date posted: February 15, 2019. Answers (1)
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Date posted: February 15, 2019. Answers (1)
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Date posted: February 14, 2019. Answers (1)
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Date posted: February 14, 2019. Answers (1)
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Date posted: February 14, 2019. Answers (1)
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Date posted: February 14, 2019. Answers (1)
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Date posted: February 14, 2019. Answers (1)
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Date posted: February 14, 2019. Answers (1)
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Compute for Heshima Ltd. for the year ended 31 ended 2011
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Turbo Mining Company Ltd started prospecting for minerals in Turkana in year 2008. Expenditure relating to research, testing and winning access to minerals amounted to Sh.48 million.
The company paid Sh. 124 million to the government to acquire the rights over the minerals and shs.180 million for purchase of land.
The following assets were constructed or purchased during the year 2009:
1. Labour quarters were constructed at a cost of Sh. 15 million.
2. Senior manager's house was constructed on the site at a cost of Sh.6 million.
3. The director's house was acquired at a nearby trading centre at a cost of Sh.9 million.
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Date posted: February 14, 2019. Answers (1)
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Mirichu Ltd. processes milk for sale in the local market.The company started its operations on 1 January 2012 after constructing two factory building at a cost of Sh.9 million each. Other assets acquired by the company on commencement of its operations included
Determine:
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c) The tax- payable, if any, for the year ended 31 December 2012.
Date posted: February 14, 2019. Answers (1)