Import duties: when and how much do I need to pay?
Import duties
Import duties, part of customs duties, are taxes levied on products imported from countries outside the European Union. These taxes are imposed to protect the domestic market. Simply put, import duties make importing goods less attractive. In addition to import duties, customs clearance fees must also be paid. These are the costs incurred by the carrier for clearing the package through customs. Import duties apply equally to both individuals and businesses—there’s no distinction made by customs.
Why are import duties charged?
When importing goods from outside the European Union, you usually need to pay import duties. The amount depends on the TARIC code of the product and the country of origin. Additionally, it’s important to check if tariff preference applies to your shipment. This is a trade policy agreement that allows certain products to be imported without paying duties.
Having trouble calculating import duties?
With the tools and tips mentioned above, you can get an indication of the import duties you’ll need to pay. However, at Team Freight Forwarding, we can provide you with a precise estimate of these costs. Our team of specialists has years of experience in importing goods from both within and outside the EU.
Interested in the TFF Xpress Portal?
With the TFF Xpress Portal, you can efficiently manage your international transports. Curious about the benefits this portal offers? Contact us for a free demo today!