Import VAT
Also called: VAT on imports · ithalatta KDV
Value added tax charged on goods when they enter a VAT territory, collected by customs together with duty. Its base is normally the customs value plus duty, other taxes and certain costs to the first destination. Registered businesses can usually deduct it in their VAT return.
In practice
Import VAT often costs more in cash flow than duty, so schemes such as postponed accounting or deferment can matter more than duty rates.
EU
Türkiye
UKRelated terms
- Customs duty
- A tax levied on goods when they cross a customs border, most often on import. It is calculated from the tariff classification, the origin and either…
- Postponed VAT accounting
- A scheme under which the importer declares and deducts import VAT in its VAT return instead of paying it at the border. The UK made it available to…
- KDV (Turkish VAT)
- Türkiye's value added tax, levied under Law No. 3065 at a general rate with reduced rates for certain goods. On import it is collected by customs on…
- IOSS
- An EU scheme in which sellers or marketplaces charge EU VAT at the point of sale on distance sales of imported goods in consignments of up to 150…
- Excise duty
- An internal tax on particular products such as alcohol, tobacco, energy products and sometimes sugary drinks, charged per unit of quantity, as a…