Import VAT

Import VAT (Value Added Tax) is a tax imposed by a country when goods are brought into that country from abroad. It’s similar to sales tax but applied at the point of entry. The purpose is to generate revenue and ensure imported products are taxed fairly alongside locally sold goods. When you import items, you typically pay this VAT to customs, which can sometimes be reclaimed if you’re a business registered for VAT. Essentially, import VAT is a tax on the value of goods crossing borders, ensuring the country collects tax on foreign products entering its market.