Neco Model Questions Vol1 2018 Commerce Question 14
Practice objective / multiple choice question 14 from the 2018 Neco Model Questions Vol1 Commerce examination.
An importer buys goods valued at ₦250,000. Customs duty is charged at 12 % of the goods' value. After the duty is added, a value‑added tax (VAT) of 5 % is applied on the sum of the goods' value and the duty. What is the total amount payable by the importer?
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About This Question
This is Neco Model Questions Vol1 2018 Commerce Question 14. It is one of the objective questions from the 2018 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Easy .
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