GlossaryEN1 min readUpdated: Jun 18, 2026

Import duties

Last updated: 18 June 2026Published: 27 January 2026

Source: https://www.investopedia.com/terms/i/import-duty.asp

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Logistics Concept

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Freight forwarders and importers encounter import duties the moment goods cross a customs frontier: they are charges levied by the state on the importation of goods, typically comprising customs tariffs, import VAT, excise duties, and other trade-policy levies. The amount payable depends on the customs value of the goods, their tariff classification under the Harmonised System (HS code), and any applicable trade agreements—free trade agreements or preferential arrangements can reduce or eliminate tariff rates. Within the EU, the Combined Nomenclature (CN) provides the classification framework; import VAT is then assessed on the customs value plus duty. Late payment attracts penalty interest; incorrect tariff classification can result in post-clearance duty recovery and fines. Unlike export duties, which are rare globally, import duties are the most widely used instrument in customs law.

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Find HS codeDetermine the tariff number for customsOpen Calculate customs valueWork out import duties and customs valueOpen Compare IncotermsClarify duties, cost and riskOpen Calculate transit timeEstimate duration per transport modeOpen

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Import duties

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