What is a C79 file?
The C79 document is a detailed list of import VAT paid during customs clearance and a key document for declaration. The C79 document is a tax bill sent by the EU Customs to importers every month. The amount recorded is the total of the import VAT for that month.
When goods are imported into the customs, C79 will be generated. The C79 document is a key document for UK tax declaration. It is a tax bill sent by the UK Customs to cross-border importers every month, recording the import VAT data of cross-border e-commerce sellers for that month. In the UK, you must have C79 to file taxes, while in other countries, C88 is sufficient.
The role of C79 file:
1. Usually the C79 of the current month will be received in the second half of the next month; (e.g. the C79 of August will be received around September 20th).
2. A C79 document can only be used for deduction once. If it has not been used for deduction, it can still be used for deduction in the next month. But it must not be reused.
3. Actual taxes payable = sales value-added tax – import value-added tax.
Sales VAT = total sales for the quarter / 6
Actual taxes payable = total sales for the quarter / 6-C79
The tax reported is positive and the seller must pay the tax to HRMC
If the tax declared is negative, HRMC can refund the tax to the seller
The above is the content about C79 file in this issue. If you want to know more about C79 file, please pay attention and we will continue to answer you~
