Imports are the set of goods and services purchased by a country in foreign territory for use in national territory. Along with exports, they are an essential tool for national accounting.
An import is basically any legitimate good or service from a country. It is called import in (purchase from another country) and exporter (for use).
Imports are normally subject to economic restrictions and regulated by all countries for the entry of products.
Requirements to import to Spain
When we are going to execute imports outside the European Union we must know the requirements. To do this you must have the following:
- Assets that are part of the transfer of your company
- Assets obtained from land located in third countries through producers, farmers or ranchers.
- Cultural and educational property not intended for sale
- Animals and medicines, aimed at research
- Provision of services included in the habitable base of imported goods.
- Goods with a value not exceeding €14, less alcohol, tobacco and perfumes.
- Re-imports in the same state or district where they were exported and previously can benefit from the exemption of import duties.
- Goods, which are delivered within the country, are not subject to the tax, (tickets, blood, ships).
- Goods in a deposit regime other than customs.
- Personal assets that are intended for personal use, provided that it is not possible to cooperate with corporate work.
- Assets destined to the victims of the catastrophe
- Goods that will be delivered in Spanish territory, to avoid double taxation
Documents to import to Spain
To import it is necessary to take into account the following documents at hand, which are mandatory, we detail them as follows:
- Commercial documents
- transport documents
- Other certificates according to the type of product.
How to import to Spain?
Depending on the type of goods that the person wishes to import, it is necessary to find out if the person must pay any type of special taxes, in order to compensate the respective load.
It is mandatory to comply with all the requirements for importation, That is why you must find out about all the charges that fall on the goods you want to import and the related requirements.
To obtain more information on each documentation, you should contact the AEAT branch that corresponds to you according to the tax domicile of your company.
What are the most imported products to Spain?
In Spain its main imports are Cars ($18.1 Thousands of millions), Crude Oil ($17 Thousands of millions), Parts-Replacements ($15.7 Thousands of millions), Packaged Medications ($9.8 Thousands of millions) and Petroleum Gas ($6.4 Thousands of millions).
The main origins of its imports are Germany ($41.9 Thousands of millions), France ($34.6 Thousands of millions), Chinese ($26 Thousands of millions), Italy ($20.5 Thousands of millions) and the United States($13.8 Thousands of millions).
Import cost to Spain
The import cost is made up of the original consumer price, plus all expenses incurred to put the imported merchandise in the establishment’s warehouse. … Financial expenses are not included in the import cost, as they are external to the real value of the imported merchandise.
All goods that are imported outside the European Union must be distributed so that they are (nationalized). Although there are exceptions depending on the purpose of the import, it is the meaning that is going to be used.
The access to the Single Market has sought the elimination of fiscal borders between the member countries of the European Union. This has generated that what was known as exports and imports between the states of the Group have come to be called, proportionally, intra-community deliveries and intra-community acquisitions.
Having identified the origin and departure, we will determine the customs value or CIF value of the merchandise. In which we will apply the tariff percentage, thus acquiring the import tariff.
With the calculation of the following amounts we can calculate the base of VATand is determined by the sum of the following concepts:
- import tariff
- Discharge and Handling(THC)
- customs value
- Port taxes (T3)
Duties and tax of the European Union
- customs destinations
- The harmonized system and merchandise coding
- tariff reductions
- Special taxes
- binding tariff
- Value Added Tax (VAT). Canary Islands, Melilla, Ceuta.
- Presentation of documents- Entry summary declaration
All entrepreneurs who make purchases or sales of goods or services outside their countries must comply with regulations regarding VAT declarations and invoicing.
Schedules and other customs expenses
Tariff rates have been reduced for many products and present an average level similar to that of the European Union. The tariff nomenclature used is based on the international harmonized system, although it does not coincide completely.
The new Customs Code allows import clearance to be carried out at any customs office in the country, reduces customs clearance time to approximately 4 hours (previously it had to be done in one day, although in practice it exceeded the limit), reduces the percentage of goods inspected and increases the quantity of goods declared electronically.
Basic example to understand import payment
Let’s think to understand the import payment from China where the following expenses have been executed:
- In China 650 USD (From the supplier’s house to the loading of the container on the ship)
- Ocean freight: 1000USD
- Expenses in Spain:
- THC: EUR170
- Transportation to the importer’s house: 200 EUR
- Insurance: There is no insurance contracted with the freight forwarder that classifies the transport.
- Payment to destination is charged for: Documents, customs clearance, among others. for an amount of 150 EUR
What is import?
The fact of transporting to another Nation, City or Province products elaborated, in another country and filtered in another Nation. In which it is distributed to be consumed or complete its production.
Import is also about consumer demand for products, and it is a great opportunity to do business with companies willing to import.
The import business requires preparation, dedication, perseverance, a learning process and effort for importers.
Types of imports
- Franchise import: This type of imports has to do with goods and services that, due to being subject to or established between countries or various laws, are or are not endowed with total or partial exemption from customs taxation.
- Ordinary import: This type of import corresponds to the receipt of goods in a partial that was imported.
- Guarantee import: This is done in the absence of customs taxes, which is part of the supplier’s return guarantees, to be replaced, refurbished or reinstated.
- Re-imports: These could be of two types, either re-imports under the same conditions or re-imports for improvement or spare parts.
- Passengers: This refers to the luggage and the content of merchandise or different objects that an international traveler may transport.
- Postal import: It refers to the postal traffic from one country to another, this means that the object of importation is carried out through correspondence shipments.
- Assembly Import: This deals with the production processes of certain goods that are made in various stages of production, and which are carried out in different countries, nations and cities.
What products can be imported into Spain?
Spain is an importing and exporting country, among the products that can be imported to part of the European region are the following:
- Industrial Technology
- information technology
- Raw Materials
- Construction and mechanical industry
- Environment and energy production.
Regarding customs modalities, three types of merchandise are distinguished:
- Goods with normal declaration.
- Merchandise subject to special taxes, which require a prior special declaration and prepayment of duties.
- Goods that require a pre-declaration, but are not subject to additional payments.
All goods that are exported or imported by any means of transport are subject to customs control, which is carried out by the customs authorities, in order to guarantee compliance with customs regulations. There are about 160 border points along the Ukrainian border, each covering a specific geographical area.
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