Import tax definition

Import tax or “Import duty” means a tax imposed on selected imported products, such as tobacco products;
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Import tax means an ordinary import, anti-dumping, countervailing or safeguard duty imposed in terms of the Customs Duty Act on goods imported into the Republic. Value-added tax imposed in terms of the Value-added Tax Act on goods imported into the Republic and all excise duties and levies imposed in terms of the Excise Duty Act on goods imported into the Republic, are also examples of import taxes
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Examples of Import tax in a sentence

  • The European Commission was initially considering four options for a CBAM design: 1) Import tax; 2) ETS extension; 3) Notional ETS with a separate pool of allowances; 4) Consumption tax (excise or VAT type).

  • Brazil encourages exports by offering a number of export-related incentives:● Import tax exemptions or reductions for imported materials (II) that are incorporated into exported products (Drawback);● Tax exemption or credit on different local taxes (ICMS, IPI, ISS, PIS and COFINS);● Special (low cost) financing arrangements.

  • Closing balance Opening balance Cost Allowance Cost Allowance and loan receivables - Receivables from employees851,613,738-1,818,360,138-- Advances to employees2,472,642,740-1,809,902,469-- Collaterals, deposits3,413,858,029-3,440,371,602-- Import tax refundable51,308,507,620-71,950,068,975--Rebates receivable from54,213,539,996-133,509,529,151-suppliers - Others19,116,248,489(34,409,000) 26,771,253,914(2,467,402,058)b.

  • See also chapter 2.9. Import tax is a cost to the company (not recoverable).

  • Import tax from Japan to Vietnam for the production of automotive components such as gearboxes will be reduced to 10% -20% within 10 years.

  • Also excluded from the single income tax rate of 30%were companies defined as “micro, small and medium size companies” by Article 699-A of the Tax Code, which were characterized by gross yearly income of less than B/.200,000.00.a.2 Indirect Tax: Transfer tax, Import tax, Export tax, Production-sales-consumption tax, Commercial tax, Juridic act taxImport Tax The import tax of Panama is structured in 21 Sections as shown below.

  • Finland implements policies in two out of six power policy categories tracked by Climatescope (2023), namely Renewable energy target and Net Metering, but not Renewable energy auction, VAT incentives, Import tax incentives or Feed-in Tariff.

  • Thirty-seven taxpayers and one trader were awarded certificates and trophies in various categories.NamRA Communique Wagon VOL.6 28 APRIL 2022 Page 1Full Storry on Page 12 The following customs and excise duties are applicable when importing a vehicle from Non- Southern African Customs Union Areas.• Value Added Tax on Import tax of 16.5%• Customs duties of 25%• Ad valorem Tax calculated based on the vehicle value• Environmental levies.

  • Import tax and export tax shall be calculated according to tax rates, tax calculation prices and exchange rates used for tax calculation according to the exchange rates announced by the State Bank of Vietnam at the time of tax calculation.

  • It includes the costs of insuring and shipping the product to the destination country.n Import tax or duty; import tax or duty can be quite substantial.

Related to Import tax

  • input tax , in relation to a vendor, means—

  • VAT means value added tax.

  • Goods and Services Tax or “GST” means the goods and services tax chargeable under the Goods and Services Tax Act (Cap. 117A);

  • Sales Tax means all applicable provincial and federal sales, use, value-added or goods and services taxes, including GST/HST;

  • Relevant Tax means any present or future taxes, duties, assessments or governmental charges of whatever nature, imposed or levied by or on behalf of any Relevant Jurisdiction or any authority therein or thereof having the power to tax.

  • Relevant Tax Authority means HMRC, or, if applicable, the tax authority in the jurisdiction in which the Supplier is established;

  • Australian Tax Act means the Income Tax Assessment Act 1936 (Cth) (Australia) or the Income Tax Assessment Act 1997 (Cth) (Australia), as applicable.

  • Integrated Goods and Services Tax Act means the Integrated Goods and Services Tax Act, 2017;

  • GST means Goods and Services Tax charged on the supply of material(s) and services. The term “GST” shall be construed to include the Integrated Goods and Services Tax (hereinafter referred to as “IGST”) or Central Goods and Services Tax (hereinafter referred to as “CGST”) or State Goods and Services Tax (hereinafter referred to as “SGST”) or Union Territory Goods and Services Tax (hereinafter referred to as “UTGST”) depending upon the import / interstate or intrastate supplies, as the case may be. It shall also mean GST compensation Cess, if applicable.

  • foreign tax means any Foreign Income Taxes or Foreign Other Taxes.

  • Goods and Services Tax (Compensation to States) Act means the Goods and Services Tax (Compensation to States) Act, 2017;

  • Input Tax Credit means the credit of input tax;

  • Sales Tax Revenues means taxes collected under the Virginia Retail Sales and Use Tax Act

  • value added tax means value added tax charged in accordance with the Value Added Tax Act 1994.

  • GST Act means the A New Tax System (Goods and Services Tax) Act 1999 (Cth).

  • integrated tax means the integrated goods and services tax levied under the Integrated Goods and Services Tax Act;

  • Use tax means a nonrecurring tax, other than a sales tax, which (a) is imposed on or with respect to the exercise or enjoyment of any right or power over tangible personal property incident to the ownership, possession or custody of that property or the leasing of that property from another including any consumption, keeping, retention, or other use of tangible personal property and (b) is complementary to a sales tax.

  • Applicable Tax Law means any Applicable Law relating to Taxes, including regulations and other official pronouncements of any Governmental Entity or political subdivision of such jurisdiction charged with interpreting such Applicable Law.

  • Other Tax means any Federal Other Tax, State Other Tax, or Foreign Other Tax.

  • Federal Tax means any Tax imposed under Subtitle A of the Code.

  • Canadian Tax Act means the Income Tax Act (Canada), as amended.

  • Sales Taxes means Alternative Revenues.

  • the Taxes Act means the Income and Corporation Taxes Act 1988;

  • child tax credit means a child tax credit under section 8 of the Tax Credits Act 2002;

  • VATA means the Value Added Tax Xxx 0000;

  • Applicable Tax State means, as of any date, (i) any State in which the Owner Trustee maintains the Corporate Trust Office, (ii) any State in which the Owner Trustee maintains its principal executive offices and (iii) any State in which the Servicer regularly conducts servicing and collection activities (other than purely ministerial activities) with respect to a material portion of the Receivables.