sales export policy

Sales to clients in export countries may be conducted in one of the following two ways:

  • 1. VAT zero-rated, based upon the following conditions:
    • 1.1. Victor Industrial Equipment contracts directly with the freight forwarder and pays the transport charges to the foreign place or point.
    • 1.2. Transactions will be conducted on the Incoterm CIP for clients who do not have a terms account with us and will need to be paid in full prior to goods being released.
    • 1.3. Transactions will be conducted on the client’s chosen Incoterm (C- or D-prefixed) for clients who have a Terms account with us and makes use of our freight forwarder.
    • 1.4. Transactions will be conducted on the Incoterm CIP for clients who require us to transact with their chosen freight forwarder and will need to be paid in full prior to goods being released regardless of whether a terms account is held or not.
  • 2. VAT rated at 15 %, based upon the following conditions:
    • 2.1. Where clients wish to transact with freight forwarders directly and arrange their own export, the transaction will be conducted as a “local sale” and the VAT will apply at the 15% rating. Goods will be available for collection or delivery based on the account terms i.e., Upfront payment or 30 days.
    • 2.2. Kindly take note that export documentation being provided as proof of export does not qualify as justification for a zero-rated Invoice.