x Businesses and individuals do not understand what is the value of importing tax on goods in accordance with the Customs Law?
X You want to learn about the factors that affect the tax calculation value as well as how to calculate and calculate the standard?
x You ask the question value is the basis for calculating import tax or not?
To get the answer to the above issues, let's go to Proship.vn we find out what is the value of import tax calculation? What is the value of import tax calculation? What factors affect the tax calculation value?
What is the value of import tax calculation?
What is the value of import tax calculation? The value of import tax calculation is an important concept in the field of customs and taxes, used as a basis for determining the amount of import tax that businesses or individuals must pay when importing goods into Vietnam.
According to the provisions of Vietnam's law (specifically the Law on Export Tax, Import Tax 2016 and the 2014 Customs Law), the value of import tax calculation is the customs value of imported goods.
What are the factors that affect tax calculation?
Factors affecting the value of import tax calculation include:
Exchange rate
The exchange rate is used to convert trading value from foreign currencies to local currency to calculate taxes. The exchange rate fluctuates, the taxable value will change accordingly.
For example, if the foreign exchange rate increases, the import value in the local currency will be higher, leading to the increased payable tax rate. When declaring: Enterprises need to monitor the exchange rate at the time of customs declaration to ensure the correct value of tax calculation, avoid tax arrears due to incorrect declaration.
Special preferential tax
If the goods are imported or exported to the tariff preferential according to the FTA agreements that Vietnam has signed, the value of export tax calculation, the value of the import tax calculation will also decrease. However, in order to enjoy preferential tax rates, businesses need to provide sufficient certificates of origin (C/O) and other related documents.
Price fluctuations
Raw materials and production costs may change over time, affecting the trading value of goods, thereby changing the value of export and import tax calculation. If the price of raw materials increases, the import value will also increase the value of import tax calculation.
How to determine customs values (or import tax value)
What is the value of import tax calculation. So, how to determine the value of import tax calculation? The calculation of value added tax on imported goods may be based on the following methods:
How to calculate import tax by percentage
The tax calculation method according to the percentage is carried out as follows: The amount of import tax payable is determined based on the value of the imported goods and the percentage tax rate applicable to each item at the time of tax calculation.
The formula for calculating the payable import tax:
Import tax payable = Number of imported goods × tax calculation value per unit × import tax rate.
* In there:
- The value of import tax calculation is the customs value determined in accordance with the Customs Law.
- Import tax rates are specified for each item in export tax and import tax.
How to calculate mixed import tax
This import tax calculation method is based on the total payable tax amount, including import taxes calculated according to the percentage and import tax calculated according to the absolute tax rate.
The formula for calculating the payable import tax:
Import tax payable = Import tax for goods calculated according to the percentage × import tax for goods calculated according to the absolute tax rate.
How to calculate absolute import tax
The absolute import tax calculation method is the method of determining the payable tax amount based on the amount of imported goods and the absolute tax rate applicable to each unit of goods at the time of tax calculation.
The formula for calculating the payable import tax:
Import tax payable = quantity of imported goods × absolute tax rate per unit.
How to calculate value added tax
How to calculate value added tax on imported goods is as follows:
- Formula for calculating VAT imported goods:
Imported VAT is calculated by the following formula:
VAT = VAT calculation price × VAT rate
- Constructive factors:
Price calculating VAT: is the basis for calculating VAT. For imported goods, the price of VAT is determined:
VAT calculation price = import price at border gate + import tax (if any) + Special consumption tax (if any) + Environmental protection tax (if any)
VAT rate:
- The most common is 10% of pressure on most ordinary imports;
- Some special items are subject to 5% tax rate (for example, some goods serving health, education and agriculture);
- Some types of goods are applied with a tax rate of 0% or subject to VAT.
Is the tax calculation value ground to calculate the import tax?
Is the value of import tax calculation is the basis for calculating import tax? The tax rate for imported goods includes: preferential tax rates, special preferential tax rates and conventional tax rates with the following principles:
Special preferential tax rate
Applicable to imported goods from countries, territories or groups of countries that have signed special preferential agreements on import taxes with Vietnam; Or for goods from non -tariff area imported into the domestic market, satisfying the conditions of origin from subjects with special preferential agreements with Vietnam.
Preferential tax rate
Applicable to goods imported from countries, territories or groups of countries with trade relations according to the nation's maximum regime with Vietnam; Or goods from non -tariff area imported intoland, meeting the conditions of origin from these subjects.
Normal tax rate
Applicable to imported goods not in the two cases mentioned above. The normally tax rate is calculated by 150% of the corresponding preferential tax rate of each item. In case the preferential tax rate is 0%, the Prime Minister will base on the provisions of Article 10 of this Law to decide on the usual tax rate.
* In summary, tax calculation value is a core factor in the process of determining export and import tax. Accordingly, to calculate import and export tax, it is necessary to rely on tax calculation value and tax rate according to the percentage applicable to each item at the time of tax determination.
What is the value of import tax calculation and how to calculate the value added tax of imported goods has been shared in detail by Proship Logistics in a detailed way. From here, businesses or individuals who do not have much experience in the issue of KBHQ should save this article so that the process of importing foreign goods to Vietnam will go smoothly. Contact immediately 0909 344 247 for advice and quotation of customs declaration services, import -export entrustment, customs lease, ... the most professional and prestigious.
