Duty and Tax Threshold Imports are not assessed duty tax and import fees when sum of duty and tax is gtNZ60 Minimum Tresholds amp Duty rules Duty Calculation Duty is calculated ID: 644428
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Slide1
New Zealand
Customs GuideSlide2
Duty and Tax Threshold
Imports are not assessed duty, tax and import fees when sum of duty and tax is >NZ$60
Minimum Tresholds & Duty rules
Duty
CalculationDuty is calculated FOB* valueMost Commonly Imported Items with Duty Rates Clothing -10%Natural health products - 5%Cosmetics - 5%Wallets/handbags - 5%CD & DVDs - 0%Auto parts - 5%Footwear - 10%Jewelry (imitation) - 5%Vitamins - 5%Costumes/festive goods - 5%Free Trade AgreementsASEAN-Australia and New Zealand Free Trade AgreementAustralia-New Zealand Closer Economic Relations Trade AgreementMalaysia-New Zealand Free Trade AgreementNew Zealand-Hong Kong, China Closer Economic Partnership AgreementNew Zealand-People's Republic of China Free Trade AgreementNew Zealand-Singapore Closer Economic PartnershipNew Zealand-Taipei, China Economic Cooperation AgreementThailand-New Zealand Closer Economic Partnership AgreementFree Trade Agreements (FTA) allows for preferential duty rates. Goods must meet the Rules of Origin outlined within each FTA to qualify for preferential duty rates.
*FOB
(Free on Board):
The import duty is calculated exclusively on the value of the imported goods.Slide3
Tax
Rules, Import Restrictions & Drawback
Tax Calculation
Tax is calculated on the CIF* value plus applicable duties
Types of TaxGST**Tax RatesStandard rate is 15%Common Import restrictionsMore information on Import Restrictions can be found at http://www.customs.go.jp/english/index.htmReturns & DrawbackNo current drawback solution* CIF (Cost, Insurance, Freight: The import duty and taxes payable are calculated on the complete shipping value,which includes the cost of the imported goods, the cost of freight, and the cost of insurance.** GST: Goods and Services TaxesSlide4
Examples
Examples to New ZealandExample 1
Sweater of NZ$150
Example 2
Sweater of NZ$500Value of the goodNZ$150NZ$500Duty appliedClothing 10% (150*0,10)= NZ$15Clothing 10% (500*,10)=NZ$50Tax appliedGST 0,15%(150+15)*0,15= NZ$24.75Tax 0,015%(500+50)*0,15=NZ$82.50
Total cost of goods, duty & tax paid by a client (excl shipping costs)
NZ$150
=
15+ 24.75 = less than NZ$60
NZ$632.50
=
500+50+82.50