28/04/2019
THE IMPORT DUTY REDUCTION IS REAL, 30% ON VEHICLES WITH A REDUCED HOME DELIVERY VALUE AND 50% ON OTHER IMPORTED GOODS.
COST IS THE PRICE AT WHICH YOU BOUGHT YOUR GOODS. FREIGHT VALUE IS THE COST OF SHIPMENT AND INSURANCE IS THE AMOUNT YOU PAY FOR INSURING THE GOODS ( INSURANCE = 0.875% x (COST + FREIGHT)).
SO CIF IS COST INSURANCE AND FREIGHT. YOU CAN ESTIMATE YOUR IMPORT DUTY ON GOODS YOURSELF.
YOU DO THIS BY MULTIPLYING YOUR CIF VALUE BY THE CURRENT EXCHANGE RATE AND MULTIPLYING AGAIN BY 35%.
