Question 3 Not yet answered Marked out of 15.00 P Flag question The International Business Company imported goods from a

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Question 3 Not Yet Answered Marked Out Of 15 00 P Flag Question The International Business Company Imported Goods From A 1 (48.91 KiB) Viewed 9 times

Question 3 Not Yet Answered Marked Out Of 15 00 P Flag Question The International Business Company Imported Goods From A 2 (31.17 KiB) Viewed 9 times

Question 3 Not yet answered Marked out of 15.00 P Flag question The International Business Company imported goods from abroad that worth 3,500,000 Dinars, the customs fees paid on imported goods amounted to 1,500,000 Dinars. The company's monthly sales during the first Six months of this year were as follows: Month Required: January February March April May June Sales 450,000 700,000 950,000 1,500,000 1,750,000 2,000,000 Note: The International Business Company is a company registered with the Sales Tax Department in the Kingdom of Bahrain and is subject to Sales Tax Rate of 5%.
Note: The International Business Company is a company registered with the Sales Tax Department in the Kingdom of Bahrain and is subject to Sales Tax Rate of 5%. Required: 1. Calculate the amount of Sales Tax paid on the imported goods? 2. Calculate of the amount of Sales Tax received on the goods sold? 3. Determine the amount due to be paid to the Sales Tax department at the end of the period? 4. Prepare the Monthly VAT Tax Statement between the International Business Company and the Sales Tax Department.