What Are De Minimis Claims

question 55

Multiple Choice

What are de minimis claims?

• A) claims of less than USD 100.00
• B) claims of less than USD 1,000.00
• C) claims of less than EUR 100.00
• D) claims of less than EUR 1,000.00

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Definitions:

Sales Tax

A tax on sales or receipts from sales, usually calculated as a percentage of the sale price and collected by the seller from the consumer at the point of sale.

Merchandise Sold

The total value of goods that have been sold by a company during a specific period, often reported on the income statement.

Sales Tax Department

The government department or agency responsible for collecting, administering, and enforcing sales tax regulations and payments.

Sales Tax Percentage

The rate at which sales tax is applied to the purchase price of goods and services, expressed as a percentage.