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 Trinidad and Tobago Either by a private individual or a commercial entity.
The valuation method is CIF.
- The sum of the value of the imported goods and the cost of shipping and insurance.
Below is the Duty and Known as VAT (Value Added Tax) in the UK. A tax based on the... for Trinidad and Tobago :
|Duty Rates||Average Duty Rate||Sales Tax(GST)||Threshold on goods|
|0% to 70%||17.45%||ST=12.5%
VAT = ST * (CIF + Duty)
|No minimum threshold(All the goods are duty and taxes payable irrespective of import value)|
Extra taxes and customs fees while importing:
No other charges
- A tax which must be paid on imported, and sometimes exported... is levied on goods based on the cost, insurance, and freight (CIF) values and rates determined by the Caribbean Community (CARICOM) Common External A government tax on imported and exported goods..
- Known as VAT (Value Added Tax) in the UK. A tax based on the... is applied on the sum of the CIF value and duty.