Tariff duties on goods are levied on an ad valorem or a specific rate basis. The majority of goods imported by businesses are subject to rates ranging from five percent to 60 percent
The majority of imported articles are subject to two different taxes: Tariff duty and VAT. Tariff duty is computed by multiplying the CIF value of the goods by the duty rate. The duty thus determined is added to the value of the goods determined with reference to the CIF price. VAT is then levied on the total sum of the CIF value, duty, and excise tax, if any. Goods imported for re-export are generally exempted from import duty and VAT.
As a part of the BOI' promoted companies are eligible to receive exemptions or reductions from import duties on raw and essential materials as well as machinery.
Further, companies that belong to the BOI's Investor Club Association (IC) are eligible to use the IC's Raw Materials Tracking System (RMTS) AND Machinery Tracking System (MCTS). For companies that take advantage of this service, release of raw materials and machinery can be done in three hours or less. For more information, please contact the Investor Club at:
Tel (662) 936 1429-40, ext 314, 315, 318.
All exported goods are exempt from export duties except raw hides and skins, wood and sawn (including lumber) items.
Interested persons can receive advice and additional information from the Export Promotion and Privileges Group, Customs Department at Tel: (622) 240 2513-6 or (622) 240 2513.