Reclaiming Import VAT on DDP Shipments
If your company is importing items into a foreign country at it’s own cost and for it’s own use (DDP shipments), you can claim back the import VAT.
What is Import VAT?
If a company ships equipment DDP (delivery duty paid) to foreign countries, the seller bears all the costs in the destination country. As a result, a significant foreign tax charge known as import VAT is charged. Import VAT leakage is common when the logistics department handles the shipping invoices instead of the finance department. Consequently, the import VAT goes unnoticed and companies lose out on the opportunity.
Industries that incur Import VAT
Cloud-based IT Software companies
Companies attending foreign tradeshows
Our Logistics Service Suite
We offer a holistic suite of logistics-related services for your business and assist you in saving up to 70% of all your shipping costs. This is made possible by combining the savings from Import VAT, co-location costs and our importer of record services.
Need more information on Import VAT?
Download our Import VAT brochure to learn more.