Which statement is incorrect? VAT on importation of goods:
A. is imposed on an importation for sale or for use in business.
B. is imposed on an importation for personal use.
C. shall be paid prior to removal from customs custody.
D. may not be available as input tax.
Answer:D
Which statement is incorrect? VAT on importation of goods:
A. is imposed on an importation for sale or for use in business. B. is imposed on an importation for personal use. C. shall be paid prior to removal from customs custody. D. may not be available as input tax.