Difference between revisions of "Import tax"
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|'''Import tax''' is a tax set forth by the [[Country administration]] that decrease the earning cutting out the tax from the price of items at the [[marketplace]] when [[citizen]] selling the item doesn't have a [[citizenship]] of the [[country]]. | |'''Import tax''' is a tax set forth by the [[Country administration]] that decrease the earning cutting out the tax from the price of items at the [[marketplace]] when [[citizen]] selling the item doesn't have a [[citizenship]] of the [[country]]. | ||
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| − | ;Example: ''If a citizen with Spanish citizenship decides to sell one unit of [[Food]] at the marketplace in France for | + | ;Example: ''If a citizen with Spanish citizenship decides to sell one unit of [[Food]] at the marketplace in France for {{Money|1.00}}, and France's '''import tax''' for food is '''50%''', and France '''[[VAT]]''' is '''5%''', then the '''earning''' for the seller will be only {{Money|0.64}} '''(1.00/155 * 100)'''.'' |
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==See also== | ==See also== | ||
| − | *[[Work | + | *[[Work tax]] |
*[[VAT]] | *[[VAT]] | ||
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{{MenuEconomy}} | {{MenuEconomy}} | ||
| − | [[Category:Laws | + | [[Category:Laws]] |
Revision as of 17:54, 26 April 2020
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Import tax is a tax set forth by the Country administration that decrease the earning cutting out the tax from the price of items at the marketplace when citizen selling the item doesn't have a citizenship of the country. |
Tax revenue is added to the country Treasury.
- Example
- If a citizen with Spanish citizenship decides to sell one unit of Food at the marketplace in France for
1.00 CC, and France's import tax for food is 50%, and France VAT is 5%, then the earning for the seller will be only 0.64 CC (1.00/155 * 100).
So the import tax is now a real loss for the seller, and not anymore just an obstacle for the price competitivity.
This new way of taxation makes the export activity almost always less profitable than placing offers on the local market.
Tax rates can be viewed by clicking on the Economy tab on Country stats.
See also
