In How Many Ways Are Imports Made?
Import is the entire process of purchasing goods and services from a foreign country. In short, import means foreign purchases. Depending on whether foreign exchange transfers are made or not, imports are divided into two types: with payment and without payment. Imports with payment are those realized by making foreign exchange transfers abroad using one of the payment methods in imports for all goods imported within the scope of the import regime with payment. Imports without payment, on the other hand, refer to imports realized by covering the cost of the imported goods with foreign exchange earned abroad, without any foreign exchange transfer abroad.
How is Import Done?
However, in modern times, it is often mistakenly thought that imports without payment are imports made without paying any customs duty or fee. However, this is not the case. Indeed, imports without payment may or may not be subject to customs duties. The point to be noted here is not whether the imports are subject to customs duty, but whether the cost of the goods is covered by foreign exchange earned abroad or by making a transfer abroad.
