Please how can I predetermined my import duty base on
1.Cost of the goods.
2.Insurance.
3.Freight charges


Ur opinion is highly welcome

ManUtdholic:
Please how can I predetermined my import duty base on
1.Cost of the goods.
2.Insurance.
3.Freight charges


Ur opinion is highly welcome

Firstly, know the HS CODE and import duty rate of what you are importing. Your calculations will be based on CIF i.e. COST, INSURANCE & FREIGHT.
TO get your CIF = COST(FOB) + INSURANCE + FREIGHT.
If you don't know your insurance value, Calculate thus: COST + FREIGHT X 110% X 0.3% = INSURANCE.
NOTE. COST OR FOB is the declared amount you bought the goods as quoted on your commercial invoice.
Digest this first, then I guide you on how to calculate the duty proper.

jaymichael:
Firstly, know the HS CODE and import duty rate of what you are importing. Your calculations will be based on CIF i.e. COST, INSURANCE & FREIGHT.
TO get your CIF = COST(FOB) + INSURANCE + FREIGHT.
If you don't know your insurance value, Calculate thus: COST + FREIGHT X 110% X 0.3% = INSURANCE.
NOTE. COST OR FOB is the declared amount you bought the goods as quoted on your commercial invoice.
Digest this first, then I guide you on how to calculate the duty proper.

Go on am enjoying u

ManUtdholic:
Please how can I predetermined my import duty base on
1.Cost of the goods.
2.Insurance.
3.Freight charges


Ur opinion is highly welcome

1. DUTY= ROD x CIF
2. SC. = 7% x DUTY
3. ETLS= 0.5% x CIF
4. CISS= 1% x FOB
5. VAT(if vatable) = 5% x
(CIF+DUTY+SC+ETLS+CISS)
TOTAL DUTY PAYABLE IS THE ADDITION OF
DUTY+SC+ETLS+CISS+VAT.

NOTE: YOU HAVE TO KNOW THE DUTY RATE OF THE ITEM AS CONTAINED IN THE CURRENT ECOWAS CET (TARIFF) .YOU CAN BUY IT AT ANY CUSTOMS COMMAND. YOU CAN ALSO GET THE DUTY RATE BY TYPING THE ITEM IF YOU KNOW THE HS CODE ON TARIFF SECTION ON THE CUSTOMS WEBSITE. YOU CAN ALSO DOWNLOAD THE SOFT COPY IN EXCEL FORMAT THERE.

IF YOU DON'T KNOW THE HS CODE OF THE ITEM, A GOOGLE SEARCH CAN GIVE YOU A SUITABLE HS CODE FOR THE ITEM WHICH MAY TURN OUR TO BE CORRECT. EXAMPLE, TYPE ON GOOGLE SEARCH HS CODE FOR SOLAR WATER HEATER. IT WILL DISPLAY THE HS CODE FOR THE ITEM IN 8 OR 10 DIGITS NUMBERS. UT IS THIS NUMBER YOU WILL CHECK IN THE ECOWAS 2015-2019 CET TARIFF FOR YOU TO KNOW THE DUTY RATE OF THE ITEM.
NOTE THAT YOUR CALCULATIONS ARE JUST TENTATIVE, SUBJECT TO THE ISSUANCE OF YOUR PAAR BECAUSE CUSTOMS AS THEY DEEM IT FIT MAY ADJUST YOUR DECLARED VALUE AND ALTER SLIGHTLY OR DRASTICALLY YOUR TENTATIVE DUTY RATE.

ASK YOUR QUESTIONS, IF YOU DON'T UNDERSTAND ANY TERM, LET ME KNOW. IF ANYTHING IS NOT CLEAR TO YOU, LET ME KNOW AND I'LL EXPLAIN.

ManUtdholic, u use to be known as hizroyalflynes, right?

jaymichael:
ASK YOUR QUESTIONS, IF YOU DON'T UNDERSTAND ANY TERM, LET ME KNOW. IF ANYTHING IS NOT CLEAR TO YOU, LET ME KNOW AND I'LL EXPLAIN.

Good morning please. is it possible for duty on sets of cufflinks worth 44k to be 27k? I got a mail from someone at FedEx asking me to send 27k to an account after paying 37k for shipping. Please reply.

CoolDude2012:


Good morning please. is it possible for duty on sets of cufflinks worth 44k to be 27k? I got a mail from someone at FedEx asking me to send 27k to an account after paying 37k for shipping. Please reply.

I don't know the duty rate for hs code, don't send any money to anyone for customs duty. go to their office. Ask them at what value and duty rate are they charging you 27k. Don't pay any money to any account. Go to their office with ur documents or tracking number or whatever is it you will use to retrieve ur consignment from FEDEX and state ur case.