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VAT Tax Saving Strategy When Importing Goods (2)

2007/6/25 11:54:00 6485
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VAT Tax Saving Strategy For Imported Goods (1)

When the imported goods enter or leave the country, in addition to paying customs duties, the value-added tax shall also be paid according to the amount of turnover (or value added) of the commodity in accordance with the tax law. This part of the tax is levied by the customs and taxation authorities at the import and export port. Because the tax rate of VAT is as high as 17%, it has an important influence on the profit accounting of enterprises. As a turnover tax of value tax, the tax burden of