As an importer who pays VAT on clearing my shipment, do I still have to worry about including VAT to my wholesale price to my distributor and suppliers
You will still have to include VAT on your selling price to your distributor and suppliers. The VAT you pay on importation is your VAT on your inputs and the VAT you will charge on your sales is the VAT on your outputs. At the end of the month you net of the input from the output through the VAT 3 RETURN and either pay the difference to KRA if the output tax is more than the input tax but if the input is more than the output you carry forward the difference to the next tax period.
1654/0%Last update: 2011-09-20 14:13
You cannot comment on this entry