Title: Eric CAUDAL
I understand that the purchase price
must include all costs (and import duties or transport/forwarder
fees should be considered in it ) but I would say the VAT is not a
cost as it has to be supported by the final consumer.
Eric Caudal
CEO
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Elico Corporation, Shanghai branch
OpenERP Premium Certified Training Partner
Cell: + 86 186 2136 1670
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On 01/20/2013 06:41 PM, Bojan Markovic wrote:
While this would obviously greatly
depend on legislature, International Accounting Standards and
most legislatures I'm familiar with are such that warehouse
stock (and therefore by extension average procurement price) is
evidented that all the costs of procurement are included in
stock price incl. transportation and customs costs and all
taxes, apart from those that can be retrieved back (like sales
tax and/or VAT). -- IAS 2 - article 11.
I only have them in Croatian so the original English text might
differ a bit.
On 20.01.2013 10:47, Eric Caudal wrote:
Hi,
When we purchase a product price tax included, the average price
is calculated with taxes.
It seems to me weird (cost price should never include taxes) but
is there any accounting expert to enlighten this topic?
Best regards
--
Eric CAUDAL
Eric Caudal
CEO
--
Elico Corporation, Shanghai branch
OpenERP Premium Certified Training Partner
Cell: + 86 186 2136 1670
Office: + 86 21 6211 8017/27/37
Skype: elico.corp
[email protected]
http://www.elico-corp.com
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Bojan Marković
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