Why Is It Important?
Economic turmoil has led many entrepreneurs to look for opportunities abroad or to import products internationally. Whether you are exporting or importing, it is critical to have knowledge of customs regulations and customs duty calculations. The products you will be shipping are subject to the customs regulations and tax liabilities of the destination country, so this information is essential to effectively manage your costs.
What is Customs Duty?
Customs duty is a type of tax levied by the customs administration during import and export processes. Most countries regulate and supervise trade through the imposition of customs duties.
GTIP Inquiry
GTIP (Customs Tariff Statistics Position) code is the worldwide identification number of the product/products you will ship. You can make GTIP inquiries by clicking here.
How Much Is Customs Duty?
The amount of customs duty varies according to the type of products imported or exported. Tax rates are determined by the Customs Tariff Statistics Position (GTIP) of the products and vary according to each country’s customs policies.
For example, all products arriving in Turkey by cargo and mail are subject to a customs duty of 18% or 20%, regardless of their value. This rate is set at 18% for products coming from European Union countries and 20% for products coming from other countries. In addition, the customs duty rate can go up to 48% for products weighing 30 kg and over.
How to Pay Customs Duty?
Those who import products from abroad are obliged to pay customs duty to the customs authority of the relevant country. If the duty is not paid, the products are kept at customs. In Turkey, these transactions are carried out by the General Directorate of Customs and are carried out through land, sea and air customs administrations.
Customs Duty Calculation Process
The customs duty calculation process is facilitated by various online calculation tools. Since the customs regulations of each country vary, taxes are calculated according to the type and value of the products. GTIP information is of great importance for the accuracy of these calculations. There are various reliable online resources to learn the GTIP code.
Once you learn the GTIP code, you can enter this code into the relevant calculation tools to find out the customs duty rates and determine your estimated costs when importing.
Customs Duty Calculation Tools
Many websites make this process easy by providing customs duty calculation formulas. With these tools, you can quickly and effectively find out how much customs duty is charged on the products you want to import. However, in addition to the calculation results, you should also consider the additional customs costs.
Intelligent Customs Duty Calculation System
The “Smart Customs Duty Calculation System” is used to calculate customs duty on imported products. This system allows you to quickly determine the tax to be paid by entering the tariff position, country of origin, quantity and price of the product. For example, if you want to import 1000 toy cars from China, you can easily carry out your transactions using this system.
Customs Duty Inquiry
The customs duty inquiry process is necessary for all individuals and organizations who want to know how much tax they will pay. You can quickly make these inquiries through the official website of the Ministry of Trade of the Republic of Turkey or through the e-government system.
Importance of Customs Duty Calculation
If customs duty calculations are not done carefully, they can have serious consequences. Incorrect calculations can cause products to be held up at customs and unexpected additional costs to occur. A correct calculation will allow your transactions to proceed quickly and smoothly, thus allowing you to optimize your business processes.