CIF raw sugar (before tax) = FOB+ insurance premium+sea freight+foreign trade agency fee+bank fee+interest+labor service.
CIF raw sugar (after tax) = CIF before tax+tariff+VAT.
Cost price of white sugar = CIF after tax of raw sugar+processing fee+loss.
As can be seen from the table, when the international sugar price is higher than 10 cents, 1 cent/pound is converted into RMB about 262 yuan/ton.
Then, if the US raw sugar futures price 1 1 is 20 cents/pound, the corresponding domestic white sugar cost price is:
Domestic raw sugar price including tax: 5682 yuan/ton
Information on import costs is as follows:
1, import cost definition:
Import cost refers to all expenses incurred by the importing unit when importing goods. These include foreign exchange prices, taxes and other expenses of imported goods.
2. Calculation method of import cost
The calculation formula is:
Import cost = foreign exchange price of imported goods × foreign exchange quotation+taxes+other expenses
(1) Foreign exchange price of imported goods. The foreign exchange price of imported goods is CIF foreign exchange expenditure. When signing the contract, if the CFR price is adopted, the foreign exchange price shall include the foreign exchange expenses of the CFR price and the foreign exchange expenses of the insurance premium. If the contract is concluded on FOB basis, the foreign exchange price shall include the insurance premium and the foreign exchange expenses of the freight transported from abroad to our port. No matter what the price of imported goods is, when calculating the foreign exchange price of imported goods, it should be converted into calculating the total foreign exchange expenditure according to the CIF price of imported goods.
If the transaction is made on the basis of CIF or FOB, and it is insured by an insurance company in China and transported by a state-owned ship in China, the insurance premium and freight paid by it are both in RMB, it shall be handled in the following two ways:
Don't regard insurance premium and freight as the price of imported goods; It is calculated in other expenses. Convert the foreign exchange expenditure of imported goods into RMB, plus insurance premium and freight. Foreign exchange quotation is an important factor affecting import cost. Although it is decided by the State Administration of Foreign Exchange, it is optional to trade imported goods in foreign currency. If we choose coins to trade, the foreign exchange rate will rise, and we will have to pay more for foreign exchange, which will increase the cost of imported goods; If you choose soft currency for trade, the exchange rate will fall, and you can pay less when you pay foreign exchange, thus reducing the import cost.
Insurance premium and foreign freight; It is also a factor that affects the cost. Insurance and foreign freight are generally paid in RMB instead of foreign exchange, which can reduce the import cost of imported goods. Imported goods shall be traded on FOB basis, insured with China Insurance Company, transported by state-owned ships in China, and the insurance premium and freight shall be paid in RMB. This can save foreign exchange expenses.
(2) taxation. Taxes refer to import duties and industrial and commercial taxes payable on imported goods. Its tax rate is calculated according to the category of imported goods according to the relevant provisions of the state, and the duty-paid price is calculated according to the CIF price. Tax is a factor that affects the import cost. The amount of tax depends on two factors: first, the level of tax rate, the higher the tax rate of imported goods, the more taxes imported goods pay; On the contrary, the tax amount is small; The second is the transaction price of imported goods. If the transaction price is low, the foreign exchange price of imported goods will be less, and the tax payable will be less if the tax rate is fixed; On the contrary, taxes will be higher. The import tax rate is determined by the state. Therefore, the key to tax reduction is to seek a reasonable transaction price.
(3) Other expenses. Other expenses are the expenses paid by the foreign trade department for handling imported goods. The more other expenses, the higher the import cost; If the expenditure is less, the import cost will be reduced. Reducing other costs is also an important factor to reduce import costs. Therefore, foreign trade enterprises should strengthen enterprise management, conduct economic accounting, save management expenses and other expenses, and strive to reduce import costs.