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Biashara Limited is registered for VAT In August 2008, the company imported goods costing sh. 2,400,000 excluding freight charges of sh. 60,000 The company then incurred sh....

      

Biashara Limited is registered for VAT
In August 2008, the company imported goods costing sh. 2,400,000 excluding freight charges of sh. 60,000
The company then incurred sh. 400,000 to transport the goods from the port to its warehouse
The processing costs were 20% of the relevant costs incurred up to the point of processing The goods were subsequently at a profit margin of 33 1/3%

Determine The VAT payable on the above transaction (Use a VAT rate of 16% and customers duty rate of 25%)

  

Answers


Wilfred
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Wilfykil answered the question on February 15, 2019 at 09:24


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