101 My Notes… NB, Important! What I must remember! A-Ha, interesting!
Exercise 2 2.1. Calculate the Customs VDP 102 Shipping / Commercial Term EXW Invoice Value EURO 49 555.75 Packing EURO 375.95 Trucking EURO 1425.75 Handling USD 555.40 Ocean Freight USD 1895.00 BAF (FRT Surcharge) USD 189.50 Marine Insurance Premium EURO 125.75 ROE for EURO 0.070175 ROE for USD 0.097561
103 My Notes… NB, Important! What I must remember! A-Ha, interesting!
Exercise 2 2.2. Calculate the Customs VDP 104 Shipping / Commercial Term DAP Invoice Value YEN 1500750.55 Port THC ZAR 975.25 Port Stevedores ZAR 2535.35 Ocean Freight USD 2825.00 BAF (FRT Surcharge) USD 282.50 Port Congestion USD 110.00 Marine Insurance Premium USD 275.25 ROE for YEN 7.635454 ROE for USD 0.097561
105 My Notes… NB, Important! What I must remember! A-Ha, interesting!
Exercise 2 2.3. Calculate Adv. Duty & VAT Payable 106 Shipping / Commercial Term FOB Invoice Value ZAR 111155.55 Sch. 1 Part 1 Duty ZAR 19452.30 Rate of Ad-valorem Duty 7.50% VAT Rate 14%
107 My Notes… NB, Important! What I must remember! A-Ha, interesting!
Exercises 2.1 – 2.3 108 Customs Worksheet Answers
Template For Exercise 2.1 109 VDP Calculation Shipping / Incoterm Currency Foreign Values ROE ZAR Values Rounded Values Invoice / Transaction Value EXW EURO 49 555.75 0.070175 706 173.85 706 174 = (INV Value) + Packing EURO 375.95 0.070175 5 357.32 + Trucking EURO 1 425.75 0.070175 20 317.06 + Handling USD 555.40 0.097561 5 692.85 737 541.09 737 541 = (VDP) + CIF & C Calculation (VDP + CIF Values + M/Ins = CIF & C) Currency Foreign Values ROE ZAR Values Rounded Values Ocean Freight USD 1 895.00 0.097561 19 423.75 19 424 Freight Surcharges USD 189.50 0.097561 1 942.37 1 942 Marine Insurance Premium EURO 125.75 0.070175 1 791.95 1 792 760 699 = (CIF & C Value) (Invoice Value) ZAR : (VDP) ZAR : Factor = (ALWAYS WORK ON A MINIMUM OF 8 DECIMALS) Currency Foreign Values ROE ZAR Values Insert Factor to Calculate VDP per Item New VDP Value per Item (Rounded off) Line Item 1 : Line Item 2 : Line Item 3 : Note : Tolerance allowed by Customs is equal to R10 Recon (equal to Total VDP) = CUSTOMS WORKSHEET Exercise No. 3.1 Section 1 - General Section 2 - Multiline Information Description of Charges : (Transfer the Rounded Values as per above) Factoring Total FOB for VDP = ZAR Stats Value for B/E = Freight Charges: Calculating the VDP per Item DO NOT COMPLETE THIS SECTION IF THE INVOICE IS EQUAL TO A ONE-LINE ITEM ONLY!
110 My Notes… NB, Important! What I must remember! A-Ha, interesting!
Template For Exercise 2.2 111 VDP Calculation Shipping / Incoterm Currency Foreign Values ROE ZAR Values Rounded Values Invoice / Transaction Value DAP YEN 1 500 750.55 7.635454 196 550.27 196 550 = (INV Value) LESS THC ZAR 975.25 1.000000 975.25 LESS STEVEDORES ZAR 2 535.35 1.000000 2 535.35 LESS OCEAN FREIGHT USD 2 825.00 0.097561 28 956.24 LESS BAF USD 282.50 0.097561 2 895.62 LESS PORT CONGESTION USD 110.00 0.097561 1 127.50 LESS MARINE INS. USD 275.25 0.097561 2 821.31 157 239.00 157 239 = (VDP) CIF & C Calculation (VDP + CIF Values + M/Ins = CIF & C) Currency Foreign Values ROE ZAR Values Rounded Values DAP VALUE YEN 1 500 750.55 7.635454 196 550.27 196 550 THC ZAR 975.25 1.000000 975.25 975 STEVEDORES ZAR 2 535.35 1.000000 2 535.35 2 535 193 040 = (CIF & C Value) (Invoice Value) ZAR : (VDP) ZAR : Factor = (ALWAYS WORK ON A MINIMUM OF 8 DECIMALS) Currency Foreign Values ROE ZAR Values Insert Factor to Calculate VDP per Item New VDP Value per Item (Rounded off) Line Item 1 : Line Item 2 : Line Item 3 : Note : Tolerance allowed by Customs is equal to R10 Recon (equal to Total VDP) = DO NOT COMPLETE THIS SECTION IF THE INVOICE IS EQUAL TO A ONE-LINE ITEM ONLY! Section 2 - Multiline Information Factoring (Transfer the Rounded Values as per above) Calculating the VDP per Item CUSTOMS WORKSHEET Exercise No.2 Section 1 - General Description of Charges : Total FOB for VDP = ZAR Stats Value for B/E = RSA Charges:
112 My Notes… NB, Important! What I must remember! A-Ha, interesting!
Template For Exercise 2.3 113 111 155.55 111 156 111 156 16 673.40 19 452.30 147 281.70 147 282 7.50% 11 046.15 111 156 11 115.60 19 452.30 11 046.15 152 770.05 152 770 15.00% 22 915.50 19 452.30 11 046.15 22 915.50 53 413.95 Calculating Payment Due Customs + SCH.1 P.1 Duty : + SCH. 1 P. 2B Duty : + VAT : Total Due Customs = ATV (Rounded off) = Current VAT Rate : VAT Payable = Calculating the ATV VDP : + Percentage Increase Rate : + SCH.1 P.1 Duty : + SCH. 1 P. 2B Duty : Total = Customs FOB Value : Calculating the VPB VPB (Rounded off) = Rate of Adv-Duty SCH.1 P.2B : Calculation VDP = Ad-Valorem Duty Payable = Total = + SCH.1 P.1 Duty : + Percentage Increase Rate : VDP :
114 My Notes… NB, Important! What I must remember! A-Ha, interesting!
115 Q&A Session, Your Turn! Please do not hesitate to ask us any questions, we are here to assist you. We thank you! It is now your turn to ask questions…
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