Tax Code : Import Purchases IM

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All goods imported into Singapore are subjected to duties and/or GST. The purchase value of the imported goods must be reported as part of the taxable purchases, with indication of the purchase as import.

 

A Fast code, [IM] is created below and linked to the chart of accounts D-G002IM-1

 

You can Pre-set your supplier account with IM tax code

 

How to record an import purchases?

 

Sample Report - GST report showing Import purchases supplier


 

Related Topics

Supplier Master pre-set IM -Import Purchases

 

Purchase Journal - Import Purchase

 

Payment - Giro for import GST

 

GST Report

 

Import GST deferment scheme (IGDS)

 

 

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