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A "value-added tax" (VAT), known in some countries as a "goods and services tax" (GST), is a type of general consumption tax that is collected incrementally, based on the increase in value of a product or service at each stage of production, importation or distribution. VAT is usually implemented as a destination-based tax, where the tax rate is based on the location of the customer. VATs raise about a fifth of total tax revenues both worldwide and among the members of the Organisation for Economic Co-operation and Development (OECD). As of 2018, 166 of the world's approximately 193 countries employ a VAT, including all OECD members except the United States, which uses a sales tax system instead.
The value-added effect is achieved by prohibiting end-consumers from recovering VAT on purchases, but permitting businesses to do so. The VAT collected by the state is computed as the difference between the VAT of sales earnings and the VAT of those goods and services upon which the product depends. The difference is the tax due to the value added by the business. In this way, the total tax levied at each stage in the economic chain of supply is a constant fraction.
As Solar Professional, you may recover this VAT.
Taxes usually consist of a customs duty (a tax levied by a country's customs) when importing and/or exporting goods, to which can be added other taxes such as the Import Consumption Tax (TC), Excise Duty (DAC), Income Tax Instalment (AIT), Import License (PAT), Chamber of Commerce and Industry Union Tax (UCC), Regional Cooperation Tax (TCR), Single Administrative Fee (RAU), With Holding Tax (WHT), Dock Dues Tax (OM), Regional Dock Dues Tax (OMR), Levy Infrastructure Development (IDL), Special Good Surtax (SGS) etc ...
The way to fulfill customs duties is to submit to the Common Customs Tariff (CCT). Customs duties are based on the value of the commodity (mainly purchase cost + insurance + transport = CIF), but some countries will use FOB (Free On Board) values for some of these taxes.
The concept of TDC is linked to the TARIC code: to each possible and imaginable type of goods is associated a 4-digit international code and up to 10-digit national code (HS Code). The duty rate applied is associated to this code.
The payment of customs duties according to the CCT is applicable for both individuals and businesses, whether the importation is of a commercial nature or not.
Solar Africa Shop is the only BtoB site with a global database of these CCTs. Our system calculates your import taxes' estimation based on your equipment and your destination country.
We have managed to automate these complex calculations to offer you an instant taxes estimation of your orders.