Import duty in Otay

Import duty in Otay and other import taxes are due when goods are imported into the United States. Duties are assessed whether it is a private individual or a business bringing in the cargo. The principle valuation method is called Free on Board FOB, which means that all import duty and taxes are calculated exclusively on the value of the imported cargo.  However, there are times when duties are based partly on value and partly on the quantity of goods. In addition to being subject to duty, imported goods may also be subject to a sales tax, IRS tax, and a merchandise processing fee.

Duty Rates
Duty rates in the United States can be calculated ad valorem (determined as a percentage of value) or specific (dollars and/or cents per unit). Duty rates can vary from nothing to 37.5%, with the average duty rate being between 5% and 6%. Though most goods are assessed some amount of duty, there are some goods that are exempt from import duty in Otay. If the value of the imported goods is $200 or less, duty is not charged and the goods are considered duty-free.

Sales Tax
Sales tax is another fee that should be considered when importing products in to the United States. They are not automatically charged on all imports. However, Customs and Border Protection (CBP) declarations are made available to state tax boards. These taxing agencies may occasionally claim state taxes due from the import companies. It is important to remember these taxes when calculating import duty in Otay.

Other taxes and custom fees
Sales taxes are not the only form of taxation to worry about on imported goods and products. Customs and Border Protection also collects federal taxes and other fees on behalf of various federal agencies and departments, such as the Internal Revenue Service. Import duty in Otay and other taxes depend on the commodity being imported. Specific user fees will depend on the mode of transportation and the type of entry. Federal Excise tax is imposed alcoholic beverages and tobacco imported in the country. A merchandise processing fee (MPF) is charged on formal and informal entries as follows:
The MPF on informal entries can be either US$2, US$6, or US$ 9 per shipment.

The MPF on all formal entries (for imports of goods valued over US$ 2500) is calculated at 0.3464% of the value of the cargo. There is a minimum charge of US$ 25 and a maximum charge of US$ 485.

Calculating import duty in Otay and other taxes can be rather complicated and confusing. It is best to use the services of a customs broker when importing goods in to the United States. You can also find more information on import declaration, import restrictions, and duties on the website for the United States Customs and Border protection

Import duty in Otay