Homework Chapter.3 Export.Import.Tax

EXPORT & IMPORT TAX HOMEWORK
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Exercise 1: Hong Ha Export Import Trading Company had the following transactions in curent months:
1. Importing 20,000 units of product A with CIF price of 60USD/unit. The currency exchange rate was
20,000VND/USD.
2. Importing 8.000 unit of product B under FOB price of 8USD/unit, transportation fee and international
insurance fee were 2USD/unit, The currency exchange rate was 20,000VND/USD.
3. Exporting 200 tons of product C with the selling price at 3,000,000 VND ton, the transportation’s cost
from the warehouse to the port was 180,000VND/ton.
4. Importing 2 packages of goods from Austria. These two packages were purchased under CIF price:
Package 1 had total value of USD10,000. Package 2 had 3.500 units with unit price was 85USD/unit. The
currency exchange rate was 20,000VND/USD. Import tax rate was 10%.
5. Exporting 10,000 units of product D under the CIF price was 10 USD/unit, transportation fee and
international insurance fee were 8,000 VND/unit, The currency exchange rate was 20,000VND/USD.
6. Sending entrusted import of 2,000 units of product E to An Phuoc Company with total CIF price of
USD 50,000. The currency exchange rate was 20,000VND/USD.
Required: Calculating the amount of import and export tax payable?
Assuming that the tax rate of product A was 10%, B was 12%, C was 15%, D was 10%, E was 10%.
Exercise 2: Thanh Dat Export Import Trading Company had the following transactions in curent months:
1. Importing 100,000 units of product A of FOB price of USD 2/unit. The currency exchange rate was
20,000VND/USD.
2. Exporting 200,000 units of product B with total exporting value under CIF prie of 300,000 USD. The
currency exchange rate was 20,000VND/USD.
3. Exporting 1,000 units of product C with CIF price of 4 USD/unit. The currency exchange rate was
20,000VND/USD.
4. Importing 3,000 units of product D with CIF price of 5USD/unit. The currency exchange rate was
20,000VND/USD.
5. Accepting entrusted import of 2.000 units of product E, the total importing value under CIF price of
20,000 USD. The currency exchange rate was 20,000VND/USD.
6. Importing 100,000 kg of material F with FOB price of 1,000 VND/kg. The company used 80,000 kg of

material F to produce 120,000 units of product G, then exported 60,000 units of product G with CIF price
of 1.2 USD/unit. The currency exchange rate was 20,000VND/USD.
Assuming that:
- International transportation and insurance charge for the above import and export transactions was
2,000VND/unit.
- The importing tax rate of product A was 10%; D was 20%; E was 5%; F was 8%.
- The exporting tax rate of product C was 1%; B was 2%; G was 3%.
Required: Calculating the amount of import and export tax payable?
Exercise 3: Quoc Cuong Import & Export Company had the following data on import and export
activities as follows:


1. Directly exporting 1,000 units of product A under the FOB price of USD 10/unit.
2. Accepting entrusted export of 2,000 units of product B for Phuong Nam company, the total export value
by CIF price was 4,000 USD.
3. Directly importing 1,000 uints of product C with CIF price of USD 4/unit.
4. Directly importing 1,000 units of product D with FOB price of 3 USD/unit.
5. Sending entrusted import of 5,000 units of product E to Hai Trieu Company with total CIF price of
USD 5,000.
Requirement: Calculate import and export tax, with assuming that:
- International transportation & insurance charge for the above-import and export transactions was VND
1,000/unit.
- Exchange rates: 20,000 VND/USD.
- Export tax rate: Product A = 1%; B = 2%.
- Import tax rate: Produc C = 10%; D = 20%; E = 5%.
Exercise 4: Zippo Export-Import Trading Company in the current period has the following economic
transacitons:
1. Importing 180,000 units of product A with CIF price of 100,000 VND/unit. However, the tax
authorities determined that there were 3,000 broken units due to natural disasters in the process of
transportation. The company sold this product at the price without VAT of 150,000 VND/unit.

2. Importing 5.000 units of product B with CIF price of 5USD/unit. Howerver, the customs’ inspection
identified missing 300 units. Currency exchange rates was 20,000 VND/USD.
3. Exports of 1,000 tons of product C with selling price of VND 4,500,000/ton, the freight charge was
500,000 VND/ton.
Requirement: Calculate import and export tax, with assuming that tax rate of product A = 10%, B =
15%, C = 5%.
Exercise 5: Thanh Loi Export-Import Trading Company imported product A, B, C from France as
follows:
1. Quantity and value:
- 20,000 units of product A with FOB price of USD2/unit. Tax rate of 10%.
- 10,000 units of product B with FOB price of 3 USD/unit. Tax rate of 20%
- 40,000 units of product C wiht the FOB price of 1 USD/unit. Tax rate of 5%.
2. The cost of shipping all three products was USD 33,000.
3. Currency exchange rate was 20,000 VND/USD.
4. International insurance for the above mentioned products was 1%/FOB.
Requirement: Calculate import tax?
Exercise 6: Thanh Dat Export-Import Trading Company in the current period has the following economic
transacitons::
1. Importing 100,000 kg of raw material A under the processing contract to produce 50,000 units of
product B for a foreign customers. The FOB price of raw material A was 2 USD/kg. The international
shipping and insurance cost of material A was 2% of FOB price of material A. Currency exchange rate
was 20,000 VND/USD.


Thanh Dat Company has been delivered 50,000 units of product B to foreign customers, but 2,000 units of
product B did not meet the quality standards as signed contracts and the customers did not accept these
defective units, Thanh Dat Company must sell the defective units domesticly.
2. Exporting 80,000 units of product E with FOB price of 50.000 VND/unit, transportation cost was
5,000VND/unit. At the port, when checking, Customs identified missing 1,000 units.
3. Import 150,000 unit of product F at CIF price of 4 USD/unit. Currency exchange rate was 20,000

VND/USD. Howerver, the customs’ inspection identified missing 3,000 units Assuming that:
- Import tax rate of product A was 10%, F was 10%.
- Export tax rate of product B was 1%, E was 1%.
Requirement: Calculate import and export tax?
Exercise 7: Thanh Cong Export-Import Trading Company imported 20,000 liters of raw liquor with a
FOB price of 50,000VND/liter, the freight charge was 10,000 VND/liter, import tax rate of 50%. Later,
the Company used 15,000 liters of raw liquor to produce 30,000 bottles of wine.
Then:
- Sold 12,000 bottles to Hai Yen Company with the price without VAT of 150,000 VND/bottle.
- Sold 15,000 bottles to non-tariff-zone with FOB price of 200,000 VND/bottle. (Export tax rate is 10%).
Requirement: Calculating the export tax and import tax payable?