The import duty in Cyprus depends on the type of goods being imported and their value. It ranges from 0% to 17%.
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Import duty in Cyprus varies depending on the type of goods being imported and their value. According to the official website of the Cyprus Customs and Excise Department, the import duty rates can range from 0% to 17%.
Here are some interesting facts on the topic:
- Cyprus is a member of the European Union, which means that it implements the Union’s Common Customs Tariff (CCT) along with other EU member states.
- The CCT is a single tariff system that applies to all goods imported into the EU, and it defines the rates of duty that must be paid.
- There are some goods that are exempt from import duty, such as books and educational materials, certain types of equipment used for research and development, and certain types of medical devices.
- Cyprus has also signed several free trade agreements with other countries, which means that imports from these countries may be subject to lower or no import duties. These countries include Israel, Egypt, and members of the European Free Trade Association (EFTA) such as Switzerland and Norway.
To give a better picture of the import duty rates in Cyprus, here is a table showing some examples of different types of goods and their corresponding duty rates in percentage:
| Type of Goods | Duty Rate |
|---|---|
| Electronics | 5-17% |
| Clothing | 12% |
| Drinks | 3-12% |
| Vehicles | 17% |
| Cosmetics | 6.5-17% |
As Albert Einstein once said, “The hardest thing to understand in the world is the income tax.” The same can be said for import duties, which can be a complicated matter to navigate. It’s important for importers to do their research and understand the duty rates that apply to their goods in order to avoid any unexpected costs.
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In general all importations, with few exemptions provided by the V.A.T. and customs legislations, are subjected to the standard rate of duty, which is 19%.
The import tax charged on a shipment will be 19% on the full value of your items. For example, if the declared value of your items is 100 EUR, in order for the recipient to receive a package, an additional amount of 19.00 EUR in taxes will be required to be paid to the destination countries government.
When you import goods to Cyprus from non-EU countries there is probably duty to pay plus the VAT of 19%.
More interesting questions on the topic
Secondly, What is the import duty tax in Cyprus? As an answer to this: The import tax charged on a shipment will be 19% on the full value of your items. For example, if the declared value of your items is 100 EUR, in order for the recipient to receive a package, an additional amount of 19.00 EUR in taxes will be required to be paid to the destination countries government.
What is the current import duty rate? Response to this: Duty rates vary from 0 to 37.5 percent, with a typical duty rate about 5.63 percent.
Consequently, How much can I import without paying duty?
You’ll need to know the Harmonised Tariff System or HTS code to calculate the exact rate due. CBP uses extended version of international HS codes — Harmonized Tariff Schedule of the United States Annotated (HTSUS). The minimum threshold for import tax is $800. Goods valued below that are not subject to duty.
Besides, How to calculate import customs duties? Response will be: To calculate the estimated duty fee for a shipment where the fee is determined by percentage value, simply multiply the total value of the goods by the percentage that applies to their HTS code, and then divide this figure by 100.
Then, What tariffs does Cyprus have?
As a response to this: Includes information on average tariff rates and types that U.S. firms should be aware of when exporting to the market. Cyprus has fully adopted the EU’s Common Customs Tariff (CCT) for third countries. EU products enjoy zero tariff rates.
Subsequently, Do I have to pay customs duties if I ship to Cyprus?
In reply to that: Customs duties are another charge which will be required to be paid. These vary by the category of products. Click here to view our country guide on shipping to Cyprus which includes a handy card on the duties based on product category. Learn more
One may also ask, What are the excise duties in Cyprus? In reply to that: 1. Introduction The Republic of Cyprus, being a Member State of the European Union imposes specific excise duties on alcoholic, tobacco and energy products. Consequently, Cyprus has adopted rules relating to the holding, intra – Community movement, and monitoring of these products.
Consequently, Who is the Director General of the Cyprus Customs & Excise Department? Welcome to the Cyprus Customs and Excise Department’s website. Our department falls under the Ministry of Finance. As from 01/12/2021, Director General of the Department is Mrs Theodora Demetriou.
How to exempt goods from paying import duty in Cyprus?
In order for the good to be exempt from paying import duty in Cyprus, the proof of union status of the goods must be provided. The same applies for motor vehicles. the number plates and the original vehicle registration document issued by previous member state.
One may also ask, What are the excise duties in Cyprus?
1. Introduction The Republic of Cyprus, being a Member State of the European Union imposes specific excise duties on alcoholic, tobacco and energy products. Consequently, Cyprus has adopted rules relating to the holding, intra – Community movement, and monitoring of these products.
Additionally, What tariffs does Cyprus have?
Answer to this: Includes information on average tariff rates and types that U.S. firms should be aware of when exporting to the market. Cyprus has fully adopted the EU’s Common Customs Tariff (CCT) for third countries. EU products enjoy zero tariff rates.
Also question is, What is the union status of vehicles in Cyprus? As an answer to this: Union status of vehicles Goods in free circulation in the EU move from one member state to another without payment of import duty. In order for the good to be exempt from paying import duty in Cyprus, the proof of union status of the goods must be provided. The same applies for motor vehicles.