A company purchased a car from overseas and claimed the VAT included in the invoice. Would Customs exclude the VAT in the calculation of Customs value for the car?
If the value-added tax (VAT) of the car included in the invoice issued overseas was refunded before the importation of car, the VAT amount should be excluded from the Customs value declared for the importation.
You will be required to produce the supporting documents indicating the VAT refund.
Related questions
Is the Declaring Agent required to include additional tax and duty in the computation of GST if the invoice of my shipment included tax and duty incurred overseas?
An individual wants to import a car from UK and likes to find out how will Customs assess the value of the car. The price of the car is $50,000 inclusive of freight and insurance charges. However, there is an additional $7,000 payable to the UK exporter as commission and is conditional for the sale of the car for export to Singapore. What is the Customs value of the car?
What are the discounts in the commercial invoice that are not acceptable by Customs? Which are the ones to deduct from the invoice value for GST?
An importer acquires a machine from an overseas supplier. The list price of the machine is S$200 but the supplier grants a 10% trade discount to the buyer because he operates at the retail level of trade, resulting in a total price paid or payable of S$180. What is the Customs value?
Need more help?
Get in touch