Investment funds are inextricably linked to imports. So you need to be prepared for timely payments to suppliers, for transport services, for customs and tax duties.
EMEM Sp. z o.o. offers assistance in preparing the calculation of projected expenses, including customs and tax duties on customs clearance of goods, in order to secure the required funds on time.
Currency
Constant monitoring of the exchange rates of major currencies is essential for imports. Useful for this purpose can be online quotes on financial services with all the necessary information or current average exchange rates published by NBP, on which many banks and shipping companies are based. We use Table A of the average foreign exchange rates.
Importantly, in the case of a customs procedure, the average rate of NBP does not apply to imports of goods. The amounts resulting from the customs document must be accepted for settlement. The customs courses are fixed by the Ministry of Finance once a month, on the penultimate Wednesday of the month and are valid throughout the following month. This is a great convenience for any analysis, although it must be remembered that the customs exchange rate is most often divergent from the rate of payment for the invoice to the supplier and with the current NBP quotation, which results in positive or negative exchange rate differences in settlements.
Current information on the rates for the customs value of goods can be found directly on the portal of the Ministry of Finance.
Customs value
Import has its limitations. One of them is the duty - a charge imposed by the State on goods crossing its customs border. It follows an increase in the price and additional costs for the buyer.
A common customs tariff applies in the countries of the European Union. This is a tariff that applies when products from outside the Union are imported. The best source of information for the entrepreneur is TARIC, i.e. the Integrated Customs Tariff of the European Union.
The ISZTAR system also works in Poland. It is an Integrated Customs Tariff System – a system of Polish customs service. It is compatible with the European TARIC system.
In both cases, you need to enter a valid customs tariff code, or search for it in the nomenclature tree. After entering the code and the country of origin of the goods, we get information whether the goods are subject to duty and how much.
More information on customs procedures is available directly on the portal of the Ministry of Finance.
Vat
The import of goods is one of the transactions subject to VAT. In Poland, only imports that are made in our country due to the territorial scope of VAT regulations are taxed. They state that the place of importation of goods is the territory of the Member State in whose territory the goods are located at the time of their entry into the Union.
The tax should be paid after the customs authority has notified the amount of the tax dues. However, it is possible to indicate a different date for the payment of the tax on the import of goods (deferred VAT) in the event that the goods are placed under a simplified procedure within the territory of the country. However, in order to benefit from deferred VAT, it is necessary to complete a number of formalities – first of all, to inform the Customs Office of its intention and to confirm its solvency there.
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