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- Topic: muitai, mokesčiai vertė
- Market: ES - Europos Sąjunga LT - Lietuva
- Copyright of the journal: CC Learning, UAB
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The WTO's Harmonised System (HS) convention is probably one of the most successful international conventions and aims to harmonise tariff codes for goods worldwide. The WTO also has successful … conventions, including the 1996 Information Technology Agreement (ITA), which aims to improve trade in technology products by eliminating customs duties on selected and defined products. The interests of the HS and the ITA are not identical. While the HS aims to establish rules for a unified classification, regardless of whether the result leads to duty-free treatment or not, the ITA's objective is duty-free treatment for technological products.
Omer Wagner
The WTO's Harmonised System (HS) convention is probably one of the most successful international conventions and aims to harmonise tariff codes for goods worldwide. The WTO also has successful conventions, including the 1996 Information Technology Agreement (ITA), which aims to improve trade in technology products by eliminating customs duties on selected and defined products. The interests of the HS and the ITA are not identical. While the HS aims to establish rules for a unified classification, regardless of whether the result leads to duty-free treatment or not, the ITA's objective is duty-free treatment for technological products.
Omer Wagner
Do you regularly import goods into the UK? Managing import taxes and VAT payments for every consignment can be complicated, time-consuming, and frustrating. Since Brexit, dealing with VAT payments … at the border is no longer necessary as they are postponed and settled separately via the importer’s EORI number. However, to release the goods from customs, duties need to be paid at the time of import… or do they? UK customs (HMRC) offer an option to simplify the whole process, known as a deferment account.
Mark Rowbotham
Do you regularly import goods into the UK? Managing import taxes and VAT payments for every consignment can be complicated, time-consuming, and frustrating. Since Brexit, dealing with VAT payments at the border is no longer necessary as they are postponed and settled separately via the importer’s EORI number. However, to release the goods from customs, duties need to be paid at the time of import… or do they? UK customs (HMRC) offer an option to simplify the whole process, known as a deferment account.
Mark Rowbotham
In theory, when goods enter the EU, import VAT is immediately due to the customs authorities at the relevant border. In practice, the EU VAT Directive gives Member States the ability to determine … the conditions under which goods enter their territories. This is in addition to the ability to set detailed rules for payment of VAT in respect of goods imported. This means Member States can implement mechanisms for postponed accounting via the VAT return, or deferred payment schemes, or a combination of both.
Mark Rowbotham
In theory, when goods enter the EU, import VAT is immediately due to the customs authorities at the relevant border. In practice, the EU VAT Directive gives Member States the ability to determine the conditions under which goods enter their territories. This is in addition to the ability to set detailed rules for payment of VAT in respect of goods imported. This means Member States can implement mechanisms for postponed accounting via the VAT return, or deferred payment schemes, or a combination of both.
Mark Rowbotham
Customs value and transfer pricing could be likened to Siamese twins - that's how closely linked they are. Let's discuss some practical questions related to the year-end transfer pricing adjustments: … If the price is revised upwards, does the importer have to go to customs and pay additional duties? If the price is revised downwards, is the importer entitled to a refund of duties? If the goods are duty-free and there is no excise duty, but only import VAT (which is deductible in any case)?
Omer Wagner
Customs value and transfer pricing could be likened to Siamese twins - that's how closely linked they are. Let's discuss some practical questions related to the year-end transfer pricing adjustments: If the price is revised upwards, does the importer have to go to customs and pay additional duties? If the price is revised downwards, is the importer entitled to a refund of duties? If the goods are duty-free and there is no excise duty, but only import VAT (which is deductible in any case)?
Omer Wagner
The Israel Customs Authority does not seem to be a fan of discounts. It appealed against the judgement of the District Court, in which the court clarified that the Customs Authority cannot, on … the one hand, rely on the fact that the price is subject to a condition (discount) that cannot be assessed and the transaction price is therefore invalid, and, on the other hand, base the assessment on the transaction price but without the condition. Let's take a look at what the Supreme Court had to say in this dispute. The disputed amount is about ILS 5 million (~1.3 million Eur).
Omer Wagner
The Israel Customs Authority does not seem to be a fan of discounts. It appealed against the judgement of the District Court, in which the court clarified that the Customs Authority cannot, on the one hand, rely on the fact that the price is subject to a condition (discount) that cannot be assessed and the transaction price is therefore invalid, and, on the other hand, base the assessment on the transaction price but without the condition. Let's take a look at what the Supreme Court had to say in this dispute. The disputed amount is about ILS 5 million (~1.3 million Eur).
Omer Wagner
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