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Home / De-Voil / Part V3 Supplies, acquisitions and imports / Division V3.3 Imports / Imports and import VAT / V3.306 Valuation for import VAT

Import VAT is charged by reference to the value of the goods concerned as determined under VATA 19941.

HMRC has published guidance regarding the adjustments required to the customs value when calculating the VAT value of imported goods.

Elements comprising the value

The value, for VAT purposes, of imported goods comprises four elements2:

  1. Ìý

    •ÌýÌýÌýÌý a value for import duty purposes determined in accordance with T(CT)A 2018, s 163, namely the 'transaction value4', whether or not any import duty is actually due

  2. Ìý

    •ÌýÌýÌýÌý so far as they are not already included in the transaction value5:

  3. Ìý
    1. Ìý

      (a)ÌýÌýÌýÌý all taxes, duties and other charges levied either outside or, by reason of importation, within the

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Web page updated on 24 Aug 2024 13:49