T-A-X Q5

Which of the following is (are) objective of import duty? 

• Financing public goods and services

• Ensure domestic supply AND Decrease supply in the world market thus increase price

• Create trade barriers

• Mitigate the effect of dumping strategy

  Improve trade deficit

• Protect domestic production

Which of the following is (are) objective of export duty? 

• Decrease supply in the world market thus increase price

• Ensure domestic supply

• Improve trade deficit AND Protect domestic production

• Financing public goods and services

• Create trade barriers AND

  Mitigate the effect of dumping strategy

How much was revenue from customs duty in total tax revenue of Vietnam in 2016?

• 40%

• 22%

• 10%

• 12%

• 9%

Vietnam's Customs duty is imposed on both goods and services.

• True

• False

Customs duty is collected by

• Customs authorities

• Tax authorities

• Both Tax and Customs authorities

Customs duty is submitted

• Per quarter

• Per week

• Per month

• Per transaction

Customs duty is

• Regressive tax

• Characteristics of open economy

• Direct tax

  AND Collected at multiple stages of the supply chain

• Influenced by international factors

• Imposed on consumption of goods

Payers of customs duty must always be owners of the goods imported or exported.

• False

• True

Exporting company A hires agent B to carry out customs procedures for an exported cargo. Who is customs duty payer?

• Company A

• Neither A nor B

• Both A and B

• Agent B

100 tons of gasoline are imported at Vung Ang port. The gasoline is going to be carried forward to Laos under the treaty between Vietnam and Laos government. The goods are

• subject to import and export duty

• non-dutiable