Value Added Tax should be paid either upfront or on deferred basis by BOI Registered companies on their Imports, if not exempted under the Customs Tariff.
Deferred facility is granted only to holders of permanent VAT registration certificates
Facility under 22(vii) of the VAT act is given by the Inland Revenue Department, during the project implementation period of the enterprise
Forms for registration of VAT deferred facility could be obtained from the VAT unit or downloaded from the website
|Deferment of VAT|
|Irrevocable Power of Attorney|
|Letter of Guarantee Form1
(VAT Deferment for Export Oriented Company)
|Letter of Guarantee Form2
(Deferment under Section 22(7))
Raw material imported for processing and export is exempted from the payment of PAL.
Payment is applicable for all other imports including capital goods.
Raw material imported for processing and export is exempted from the payment of PAL.PAL is deferred (on a Bank Guarantee) or exempted as applicable during implementation period for projects qualified for tax concessions under section 16D or 17A of Inland Revenue Act.
Raw material imported for processing and export is exempted from the payment of NBT. Payment is applicable for all other imports including capital goods.
Payable on capital goods if applicable under the customs tariff
Payable for items other than items used for processing / manufacturing for re-export as per the customs tariff
Import documents should be submitted electronically through ASYWORLD using the DTI (Direct Trader Input) facility. The following is facilitated through this system.
Import details could be transmitted to the service center 24 hrs and 07 days of the week
Saving on cost and time in documentation
Accuracy in recovery of taxes
BOI also permits enterprises to re-import cargo exported/re-exported for the following reasons
Machinery and Equipment re-exported for repairs and modifications
Finished goods exported overseas could be permitted to be re-imported, if returned, and cleared within a period of 02 year
Items exported for outward processing (Embroidery, Printing, etc)
You should make a request to the relevant service centre, seeking permission for the re-import. The relevant form 45/FO/IS/32 could be downloaded.