Einfuhrumsatzsteuer

Einfuhrumsatzsteuer (import turnover tax) is a value-added tax imposed on goods imported into a country, such as Germany. When you bring goods from outside the country, this tax is calculated based on the customs value of the items, including shipping and insurance costs. It ensures that imported goods are taxed similarly to domestically produced ones, maintaining fair competition. Businesses can often reclaim this tax if they are registered for VAT and use the imported goods for taxable sales. Essentially, it acts as an import tax integrated into the VAT system, ensuring proper taxation of international trade.