VAT of imported goods

This article covers information of processing the VAT of imported goods in Procountor.

General information

• The VAT in importing is previously paid to the Customs. From 1.1.2018 on, the VAT of imported goods is paid to Tax Administration. Further information of the subject can be found here.
• From 1.1.2018 on, Procountor uses four VAT statuses, which can be used in order to make the VAT of imported goods to appear to a tax return of self-assessed taxes:
  • Import 0%
  • Import 10%
  • Import 14%
  • Import 24%
• Two new fields for VAT of imported goods were added to a tax return of self-assessed taxes since the change in 1.1.2018:
  • 304 // Tax of importing goods outside EU
  • 310 // Importing of goods outside EU

An example of entering VAT of imported goods

• In Procountor, the VAT of imported goods has the same logic as EU 24% (product) VAT status.
• VAT of imported goods can be processed on invoices Accounting view, or on a separate journal. If the VAT is processed on the invoice’s Accounting view, the month on which the VAT is wanted to be entered (Custom’s approval date) must be taken into account.
• In case of duty-free import, the Import 0% VAT status must be used. Using Import 0% status allocates the sum to the field 310 on a tax return of self-assessed taxes but does not calculate the value to the field 304.
• An example of processing VAT of imported goods can be found below.

Processing the import VAT on a purchase invoice’s Accounting view:

1. Invoice date field: The invoice is allocated to the desired month based on Custom’s approval date.

2. Accounting entries of the receipt: