Import Duty is a tax applied to all the imports and some exports by customs authorities. Common examples of import duties include trade tariffs and excise duties. UK businesses can check applicable duty rates using the UK Global Trade Tariff.
Import duties serve two primary purposes:
Generating revenue for local governments
Raising the final price of imported goods
This higher price encourages consumers to choose domestic products, which aren’t subject to these taxes. Use iCustoms’ landed cost calculator to estimate import duty costs for your shipments before they arrive.