When is duty payable on imports

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Consumption tax is also payable on imports of non-alcoholic beverages. In some cases other levies are payable on imported goods, for instance agricultural levies on agricultural products or anti-dumping duty on industrial products. In the UK, there's no specific tax called import duty. However, if you purchase goods from abroad, you might need to pay a number of different taxes and duties, depending on the nature of the goods and where you purchased them from.

There are three main types of taxes and duties due on goods brought into the UK:. Depending on the context, import duty may also be known as a customs duty, tariff, import tax or import tariff.

Import duties have two distinct purposes: raise income for the local government and to give a market advantage to locally grown or produced goods that are not subject to import duties.

A third related goal is sometimes to penalize a particular nation by charging high import duties on its products. In the United States, Congress established import duties.

Different rates are applied depending on the countries' trade relations status with the United States. The general rate applies to countries that have normal trade relations with the United States.

The special rate is for countries that are not developed or are eligible for an international trade program. Around the world, several organizations and treaties have a direct impact on import duties. Several countries have tried to reduce duties to promote free trade.

Countries make these commitments during complex rounds of negotiations. In , the U. It is expected to take several years before the TPP comes into force. In practice, import duty is levied when imported goods first enter the country. For example, in the United States, when a shipment of goods reaches the border, the owner, purchaser or a Customs broker the importer of record must file entry documents at the port of entry and pay the estimated duties to Customs.

The amount of duty payable varies greatly depending on the imported good, the country of origin and several other factors. For consumers, the price they pay includes duty costs.