VAT paid in cash at import
Goods purchased abroad must be declared at customs and paid for in cash on the spot.
Customs issues a customs clearance document indicating the taxable amount and the VAT amount paid. VAT paid at customs can be recovered by VAT payers.
In order to recover the VAT paid at customs, the user needs to operate as follows:
To recover the VAT, register as follows:
- In the Debit column the cash account. The Debit column remains empty.
- In the Amount column, the amount paid in customs is recorded.
- In the VAT Code column, a VAT code type 2 (M77-2) is entered, which allows the VAT amount to be recorded at 100%.
New codes can be added to the VAT Codes table. If you need the 2.5% VAT code, for customs VAT recovery, simply add a new code, e.g. M25-2, completing the same grouping in the column Sum in, GR1, the amount type 2 and entering 2.5 as the rate.
In the Transactions table, enter the cash account in credit, the paid VAT amount and the corresponding VAT code.
The program calculates the VAT amount at 100%, without creating differences in the recordings.
VAT paid at import by the shipping company
The procedure is the same as the previous one, except for the fact that the transaction extends itself over several rows, since, at the moment the shipper's invoice is being paid, the shipping costs and/or the customs clearance may be included.
Payment of the shipper's invoice for a total of CHF 359.- CHF 150 of which shipping costs, and CHF 209 for VAT advanced at customs.