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New Zealand  Customs Guide New Zealand  Customs Guide

New Zealand Customs Guide - PowerPoint Presentation

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Uploaded On 2018-03-09

New Zealand Customs Guide - PPT Presentation

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

zealand duty trade tax duty zealand tax trade goods import economic cost free amp calculated closer 150 agreementnew china

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Presentation Transcript

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