Customs Duties or A tax charged on certain goods which are brought into a coun... and taxes will be pending and need to be cleared while importing goods into Cayman Islands whether by a private individual or a commercial entity.
The valuation method is CIF.
Below table provide the Duty and Known as VAT (Value Added Tax) in the UK. A tax based on the... for Cayman Islands:
|Duty Rates||Average Duty Rate||Sales Tax(GST)||Threshold on goods|
|0% to 102%||20.5%||No Known as VAT (Value Added Tax) in the UK. A tax based on the...||No Threshold, all imports should pay duty and taxes.|
- Package A fee imposed by a government on personal or corporate incom... = 2.00 to KYD 5.00 per package.
- Environmental A fee imposed by a government on personal or corporate incom... = CIF value up to KYD 12,000.
- Inspection Fee = freight shipments at a rate of KYD 2.00 per 100 lb
For more information on cayman islands please visit Cayman Islands Corporate Other taxes website.