Calculation of Taxes

Actually when we imported any goods from abroad its must be calculated by customs of our taxes. So, now I try to describe calculation taxes of Import. We seem that we imported fabric from china

which qty- 10,500.00 kgs Item: 95% Cotton 5% Spandex slub w:57/8=28302 YDS.

Now  try to understanding that actual how much money we will be paid customs for this purpose.

Remember that previews article I descried that how to import I mean Import procedure. For this reason here I described only costing flow chart.

Ok freind no more talk come to the point. if you have seen any bill of entry where you will be seen that 47 tag calculation of taxes on bill of entry. Basically here mentioned some type of taxes as like CD, RD, SD, VAT & AIT but what is this & how its work. Really I want say that I have no any idea how to calculated it. 

Today I try to understanding what is it & how to work.

First of all we will take some information of above words meaning which part of taxes. So, lets ho ahead.

What is CD ?

What is RD ?

What is SD ?

What is VAT ?

What is AIT ?

CD: 

CD Tax Overview. In most cases, you have to pay income tax on the interest you earn from a CD. ... When your CD matures and your money is returned to your savings account, that's usually (but not necessarily) a return of your principal, which is not a taxable event.

>> How to find out CD ?

RD :

The Recurring Deposit (RD) interest is compounded quarterly. And the formula to to calculate the RD returns is the same as the formula for compound interest. ... Assuming a rate of interest of 8 percent per annul, the maturity value of the same would be R73862

>> How to find out RD ?

SD

In Bangladesh, the principal taxes are Customs Duties, Value-Added-Tax (VAT),Supplementary Duty and personal income taxes and corporate income taxes. The standard rate of VAT is 15% levied on transaction value of most of the imports and supplies of goods and services.

>> How to find out SD ?

VAT :

A value-added tax (VAT) is a consumption tax placed on a product whenever value is added at each stage of the supply chain, from production to the point of sale. The amount of VAT that the user pays is on the cost of the product, less any of the costs of materials used in the product that have already been taxed.

>> How to find out VAT ?

AIT : 

Advance income Tax (AIT) is a tax withheld in respect of imported goods for commercial purposes.
>> How to find out AIT ?

To be Continued....................