Commentary

V7.255 Import of computer software—goods or services?

Part V7 Tax planning
Part V7 Tax planning | Commentary

V7.255 Import of computer software—goods or services?

Part V7 Tax planning | Commentary

V7.255 Import of computer software—goods or services?

Think of an importer's predicament as he buys the latest technology product from the USA – does he have to declare his product as an import of goods (pay VAT at the time of import into the UK and reclaim this amount as input tax on his VAT return)? Or is he making an import of services, in which case he can import the product VAT free, and deal with the VAT on his next return using the reverse charge system? (Output tax is declared in Box 1; input tax reclaimed in Box

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