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Calculate all duties and taxes payable and total sum payable

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Question - Milky Way imports Frozen Cheddar Cheese. The shipment arrived at the seaport Cargo Warehouse. The shipping cost is $4,000.00USD for 3500 boxes of 100,000 cans with 100,000,000,000,000 milligrams of cheese. The broker informs for Cheese, the Import Duty (ID) rate is 5%, and the Dairy Cess rate is $8.2180 per Kilogram. The Common External Tariff Value for the shipment of cheese is $50,000.00USD. Given that:

1. General Consumption Tax (GCT) rate is 15% or 20% depending on the purpose of importation

2. Standard Compliance Fee (SCF) rate is 0.3%

3. Environmental Levy (ENVL) is rate 0.5%

4. Stamp Duty is $100.00JMD

5. Exchange rate is 1USD: 155JMD

6. Customs Administration Fee is $25,000.00JMD

Required - Calculate all duties and taxes payable and the total sum payable by Milky Way for the shipments. SHOW ALL WORKING.

Reference no: EM133183146

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