Register

Entrance Practice Test & Exam Prep | Brazil

Access More Questions
A commercial importer in Ilhéus/BA imports electronic equipment from Germany for commercial resale. The customs declaration provides the following data: customs value converted to BRL at the official exchange rate on the date of customs clearance = R$ 100,000.00; Import Duty (II) = R$ 15,000.00; IPI = R$ 10,000.00; PIS-Importação = R$ 2,100.00; COFINS-Importação = R$ 9,650.00; AFRMM (customs freight surcharge) = R$ 3,250.00; other customs clearing charges = R$ 2,000.00. Assuming the internal Bahia ICMS rate is 20.5% and applying the mandatory gross-up calculation (cálculo por dentro) under Bahia Law No. 7.014/1996 and LC 87/1996, what is the ICMS calculation base?
Correct Answer:
R$ 178,616.35

Access more questions from this quiz

Continue to Entrance Practice Test & Exam Prep | Brazil for more practice questions and the full quiz experience.

Access More Questions