Customs invoice handling for imports
When importing goods into a country, taxes or duties must be paid based on assessable
value or customs value which can be different from the transaction value
of the imported goods. This process requires you to:
- To specify estimated assessable value or customs value on order documents.
- To capture the actual assessable value or customs value mentioned in the customs clearance documents.
- To calculate taxes based on assessable value or customs value instead of transaction value.
- Inventory to be updated with applicable expensed tax based on customs value identified at warehouse receipts.
Customs value is used in these procurement related documents:
- Purchase order lines
- Warehouse inbound / outbound order lines
- Warehouse receipt lines
- Intercompany trade order transaction lines
Infor LN allows you to modify the customs value on the warehouse receipt line. If import duties are expensed, Infor LN allows you to add the expensed tax amounts to inventory. Customs invoice tax base amount is defaulted from the customs value specified in warehouse receipt line.
During imports, various documents are required to manage registration and payment of these
documents:
- Supplier invoice (without any taxes).
- Customs clearance document (includes duty and required VAT payments).
- Landed cost related invoices.
- Clearing agent invoice (if customs clearance is managed by a clearing agent).
For intercompany purchase invoices, you can create a customs invoice for supplier (internal business partner) and the expensed tax amounts are not reversed. Customs invoice can be registered for the business partner and matched to receipt with the import reference.
You can register the customs clearance document as a separate invoice with customs authority as a business partner.