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International sales tax and SA Customs VAT calculation (imported goods)
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<blockquote data-quote="Drifter" data-source="post: 1090945" data-attributes="member: 13448"><p>The general rules of sales tax (whether VAT or GST) are:</p><p>- GST & VAT are both indirect taxes meant to be charged on goods and services when consumed locally</p><p>- If goods and services are exported, sales tax is generally charged at a zero rate</p><p>- Goods/services are sold when the rights and rewards of ownership passes, this is usually at the point of generating a sales invoice</p><p>- Goods are deemed to be exported if the vendor sends it directly to a customer with at a foreign address (direct sale)</p><p></p><p><a href="https://postimages.org/" target="_blank"><img src="https://i.postimg.cc/cHJgY49X/Screenshot-2022-01-25-at-16-12-21.png" alt="" class="fr-fic fr-dii fr-draggable " style="" /></a></p><p></p><p>In your example, you will "take possession" of the goods at the location of the warehouse of your forwarding agent. In this case it is a local sale so your vendor must charge GST. The sales invoice will have added GST added to it </p><p>The goods are then exported by the forwarding agent (indirect export).</p><p></p><p>In your scenario, there is no way to recover the GST that you had to pay.</p><p></p><p>VAT is different and most countries that have VAT (rather than GST) have a way of reclaiming VAT on exports (for both the vendor and buyer).</p></blockquote><p></p>
[QUOTE="Drifter, post: 1090945, member: 13448"] The general rules of sales tax (whether VAT or GST) are: - GST & VAT are both indirect taxes meant to be charged on goods and services when consumed locally - If goods and services are exported, sales tax is generally charged at a zero rate - Goods/services are sold when the rights and rewards of ownership passes, this is usually at the point of generating a sales invoice - Goods are deemed to be exported if the vendor sends it directly to a customer with at a foreign address (direct sale) [url=https://postimages.org/][IMG]https://i.postimg.cc/cHJgY49X/Screenshot-2022-01-25-at-16-12-21.png[/IMG][/url] In your example, you will "take possession" of the goods at the location of the warehouse of your forwarding agent. In this case it is a local sale so your vendor must charge GST. The sales invoice will have added GST added to it The goods are then exported by the forwarding agent (indirect export). In your scenario, there is no way to recover the GST that you had to pay. VAT is different and most countries that have VAT (rather than GST) have a way of reclaiming VAT on exports (for both the vendor and buyer). [/QUOTE]
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International sales tax and SA Customs VAT calculation (imported goods)
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