Import Duty - What is import duty?
Import duty is a type of tax which you may need to pay if you purchase goods or services from abroad.
Do you import or export? With Debitoor, you can create invoices in multiple languages and currencies, making it easier for your business to grow internationally.
There are different kinds of import duty, depending on whether you are importing from within or outside of the EU and whether you are purchasing goods or services.
Import duty on goods
Goods imported from another EU country are known as ‘acquisitions’. If you import goods from another EU country, you will need to pay Import VAT. You usually do not need to get any kind of license for EU imports.
Import duty on services
Generally, if you purchase services from another EU country, you must follow a rule called 'reverse charge'. Certain types of service - such as such as hiring transport, 'electronically supplied services', and catering or restaurants - are exceptions to this rule.
You do not need to pay VAT on services purchased from outside of the EU.
Importing and Debitoor
With Debitoor invoicing and accounting software, you can easily manage your day-to-day finances, even if you have suppliers and customers in several different countries.
Debitoor is localised to over 40 countries around the world. It allows you to create invoices in 12 different languages, and because you can choose from a range of currencies, it's fast and simple to trade across borders.