With the development of economy, more and more enterprises start to import and export cross-border business. Today, our tax accountant firm will make a brief explanation on the payment of value-added tax in the import link.

According to the provisions of the Interim Regulations on Value-added Tax, the component assessable price shall be used to calculate the VAT payable on imported goods. The formula for calculating the component price and the tax payable is as follows:

Constitute the assessable price=Customs value+tariff+Consumption tax

Tax payable=Constitute the assessable price*Tax rate

For example, an enterprise in2022years1Month, a batch of imported car parts, overseas transaction price68Us $10, 000 for transportation before landing at the point of import in China5Ten thousand dollars, insurance1Ten thousand dollars. Duty rate on complete car parts25%, the central parity rate of the RMB is1Usd/RMB6.9Yuan. The value added tax payable by the automobile production enterprise for importing complete car accessories is:

Constitute the assessable price=(68+5+1)*6.9*(1+25%)=638.25wan

VAT payable=638.25*0.13=82.97wan

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