Do you know How Import Customs Duty Calculate In Pakistan? If not so keep reading this post, here we learn how customs calculate duty and also give examples of customs duty calculation along with other taxes i.e. sales tax, income tax, cess etc. (List of Import Duty & Taxes In Pakistan On Imported Goods)
Customs Duty Calculation In Pakistan
Import duty calculation manually is the quite complicated process for the new trader in Pakistan but we try to make this calculation process simple & easy, following topics we will discuss in this post.
- Calculating Import Customs Value of Cargo.
- Import Customs Duty Calculation.
- Calculate Sales Tax of Imported Goods.
- How To Calculate Additional Sales Tax.
- Calculation The Income Tax Amount For Import Goods.
- How To Calculate Additional Customs Duty.
How Import Customs Duty & Other Taxes Calculate
Let suppose we are the commercial importer and we have imported PLASTIC GRANULES (HS Code 3901.9000) in Pakistan having CNF Value 18387 US$ now we will calculate customs duty and other taxes of this consignment.
Calculate Customs Value of Imported Goods
We have to calculate customs value first because we will need this value to find out import customs duty, sales tax, and income tax etc.
In order to find customs value, we add landing charges, insurance, and other charges (if any) with the CNF value of the imported goods, after adding all values now we convert this value into Pak Rupees therefore multiply it with current exchange rate
|CNF Value of Cargo||= 18389 US$|
|Plus: Landing Charges||= 183.89 US$ (1% of CNF Value)|
|Plus: Insurance||= 183.89 US$ (1% of CNF Value)|
|Customs Value (US$)||= 18756.78 US$|
|Exchange Rate (Rs.)||= 104.70 (Let Suppose)|
|Customs Value (Rs.)||= 1963835 (18756.78 X 104.70)|
Import Customs Duty Calculation
Once we calculated the customs value of goods in Pak Rupees, so simply take customs value with the duty percentage of your products, In our example product is PLASTIC GRANULES (HS Code:3901.9000) and its customs duty is 5%.
Customs Duty (Rs.) = 98191 (1963835 X 5%)
As a commercial importer, we pay extra 1% Addition Customs Duty.
Additional Customs Duty = 19638 (1963835 X 1%)
How to Calculate Sales Tax of Imported Goods.
We will add customs value, customs duty, and additional customs duty, after adding all these values simply take 17% from this calculated value.
|Customs Value (Rs.)||= 1963835|
|Plus: Customs Duty (Rs.)||= 98182|
|Plus: Additional Customs Duty (Rs.)||= 19637|
|Sales Tax (Rs.)||= 353881 (2081654 X 17%)|
Additional Sales Tax (Rs.) = 62449 (2081654 X 3%)
How To Calculate The Income Tax Amount For Import Goods.
To calculate the income tax amount, simply add customs value, customs duty, and additional customs duty, sales tax, and additional sales tax, once added all value take 6%.
|Customs Value (Rs.)||= 1963835|
|Plus: Customs Duty (Rs.)||= 98191|
|Plus: Additional Customs Duty (Rs.)||= 19638|
|Plus: Sales Tax (Rs.)||= 353881|
|Plus: Additional Sales Tax (Rs.)||= 62449|
|Income Tax (Rs.)||= 149879 (2497762 X 6%)|
Total Customs Duty & Taxes of Import Cargo
Finally! we have calculated the customs duty and other taxes such as sales tax and income tax,
|Customs Duty (Rs.)||= 98191|
|Additional Customs Duty||= 19638|
|Sales Tax (Rs.)||= 353881|
|Additional Sales Tax (Rs.)||= 62449|
|Income Tax (Rs.)||= 149879|
|Total Duty & Taxes||= 684038|
Thanks for reading this, here in this post Customs Duty Calculation In Pakistan we learned how to calculate import customs duty & other taxes manually, if you still confused or don't understand any step discussed over here so you can contact us anytime or if you want us to calculate import customs duty of your cargo so can share your details below using comment form.