Page 29 - Chapter 32 - VAT Part 1
P. 29
8.2. Importation of goods: From other countries (scenario 2)
- First have to be cleared for home consumption by Customs
- Import date vs Clearance date
- if first stored in customs warehouse (before clearance): zero-
rated supply (“in-bond” sales)
- Time of supply: date on customs invoice (usually when
cleared) [s13(1)(i)]
- ● VAT charged = 14% x total of…
Customs duty value
+ Customs duty value x 10%
+ Non-rebated customs duty payable + any import surcharges
