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IMP Tax code

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Contributing User Natct
33 Posts
Contributing User

IMP Tax code

Hi all


will anyone know when will IMP tax code be put into place to record transactions? Is it the Customs duty when the company trying to import goods from overseas and then we need to record from Banking tab under Spend money ?




Ultimate Partner Seattle
1,082 Posts
Ultimate Partner

Re: IMP Tax code



I am old fashioned and post GST Paid on the Import Declaration Document directly to GST Paid.


Would always reconcile my GST Reports to the Balance Sheet on preparing a BAS.


The MYOB code IMP may make the GST Reports correct when reconciling the GST Report to the Balance Sheet.


Great Care should be taken in entering the Import Declaration Document into MYOB.


Hope this helps.



Duncan Smith
Business Advice + Tax
Helping business owners build a better business since 1998
E T 02 9904 3672 7 days
MYOB Moderator Matthew_W
2,173 Posts
MYOB Moderator
New Zealand

Re: IMP Tax code

Hi Natct, thank you for the enquiry.


I can't advise when you should be using the IMP tax code on your transactions but I can give you this great Support Note we have setup for recording GST on imported goods in your software. This Support Note steps you through doing this on your Purchases as that is generally the requirement but you could apply the same process to Spend Money transactions if that is what you need.

Kind regards,

MYOB Client Support


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