How can I figure out about the amount of duty I have to pay on the products bought from TTC?
- Hits:
- 2762
- Rating:
- Vote for this:
-
- 
Answer
- Amount of Customs Duty = Duty Rate (%) X Customs Value
Customs Value = Declared Value + Transport Cost + Insurance - French VAT = 19.6% X (Customs value + Customs Duty)
Example:
- 500 Mp3 at € 4000
- Transport: € 1000
- Insurance: 3 %
- Duty Rate (TARIC code): 9%
Calculation of Customs Duty payable:
= 9% X [(4000 + 1000) + 3% (5000)]
= 9% X 5150
= € 463.50
French VAT:
= 19.6% (5150 + 463.50)
= € 1100.25
Add comment