Import VAT is generally recoverable up to 27%
Bringing goods into a country usually attracts varying levels of customs, duties and taxes. Where Import VAT is applied, it is generally recoverable with other VAT. The Import VAT is applicable on the value of the goods, not the shipping cost – so it can be as high as 27% on top of the items. Where no or few controls are in place, this VAT often becomes an unseen cost in many organisations.
Taxback International works with you and your carriers to ensure paperwork is correct in order to reduce VAT costs and ensure recoverability of the VAT. This process is similar to our VAT reclaim services, both Foreign and Domestic.
- Expert advice on Import VAT reclaim,
- Advice on documentation to assist VAT reclaim,
- Review importation documentation,
- Import VAT savings,
- Ensure all relevant follow-ups are completed,
- Import VAT refunds,
- Import VAT compliance checks.