Calculate Customs Values ,Duties and VAT
Learn how to use information contained in source documents to calculate an accurate value for customs purposes, as defined in the customs Act and calculate the duties payable and VAT. in terms of the formulae and principles contained in the harmonised tariff book.
What will you Learn ?
- Identify the point of valuation, currency and correct rates of exchange.
- The principles of factorisation are explained with examples.
- The formulae for added tax value and ad Valorem to establish relative value
- Calculate the value for customs purposes as defined in the customs act.
- Calculate and convert multi lined values to South African Rand.
- Calculate added tax value and value for ad valorem purposes (schedule 1 part 2b of the Customs Act).
- Identify and explain the different types of duties payable on commodities from the harmonised classification in the South African tariff.
- Calculating the duty payable in terms of the first schedule of the harmonised tariff.
- Calculating the duty in terms of schedule two.
- Calculating the rebates in schedule three and four.