Part Nine

Customs Duty Accounting

Customs Duty Definition

• Tariff is determined by the customs according to the related laws, to import and export goods and items as the object of taxation levied a tax on commodities.

Custom characteristics • As independent taxes, duties in addition to

general tax besides the characteristic, also has the following characteristics:

• 1 collection unit for customs

• 2 collection of unity and disposable

• 3 The tax is the import and export of goods and articles

• 4 tariff belongs to the money

The persons obligated to pay customs

duties

• Duty is the consignee of the import goods, the consignor of export goods, the import or export goods of all people.

Tariff tax object • Tariff taxation object is to allow inbound

and outbound goods and articles. Goods refers to the trade of goods; goods refers to trade goods, including inbound passenger carry-on luggage, personal postal articles on various transportation tools, the service personnel carrying imported for personal use items, Gifts Articles and other forms of entry of personal items.

Tariff classification• According to different standards, tariffs can be

divided into different types.• ( a ) according to the tax object classification• Tariffs can be divided into import tariffs, export

tariffs and customs transit.• ( b) according to the standards for classification

of Taxation• Tariffs can be divided into from the amount of

tax, ad valorem tax, tax, tax, selection of composite sliding tax etc..

•c) according to the classified nature of Taxation

•Tariffs can be divided into general tariff, preferential tariff and differential tariff, mainly applicable to the import tariff.

Tariff rate • 1 import tariff

• ( 1) the MFN tariff rates

• ( 2) agreement

• ( 3) preferential tariff

• ( 4) the general tariff rate

• 2 export tariff rates

Tariff tax basis

Tariff on dutiable value for import and export goods to the tax basis. Tariff customs value refers to the Customs Tariff assessed price, by the Customs on the basis of the transaction value of the review identified; if the transaction price cannot be determined, the price paid by the customs in accordance with the law .

Tariff customs valuation

• a ) the dutiable value of import goods determination

• b )determination of customs value of export goods

Tariffs taxable amount calculation

a ) ad valorem taxable amount calculation

Dutiable tax amount = duty-paid price x applicable tax rate

b) from the amount of tax payable calculated

Dutiable tax amount = taxable into (out of ) export quantity of goods x unit of commodity tax

c) composite tax payable calculation •Dutiable tax amount = taxable into (out of ) export quantity of goods x unit of commodity tax +•Customs dutiable value x applicable tax rate• d) sliding tax taxable amount calculation •Dutiable tax amount = duty-paid price x sliding tariff

a ) tariff tax filing deadline

b) the tariff tax deadline

c) the tariff tax payment place

d) tariff refund

e) duty of levying and collection

Tariff tax returns and tax refund,

Import tariff calculation

Export tariff calculation

Agent import and export business tariff calculation

Tariff accounting

MANAGERIAL ACCOUNTING

Content of Reports

Pertains to subunits of the entity and may be very detailed.

May extend beyond double-entry accounting system to any type of relevant data.

Reporting standard is relevance to the decision to be made.

Verification Process

No independent audits.

DIFFERENCES BETWEEN FINANCIAL AND MANAGERIAL ACCOUNTING

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