1. What is Northern Ireland Import Tax?

The Northern Ireland Import Tax consists of customs duties and VAT applied to goods imported into Northern Ireland. The calculation is based on the CIF value (Cost, Insurance, and Freight) of the goods.

2. How Does the Calculator Work?

The calculator uses the following formula:

Where:

• \( \text{CIF} \) — Cost, Insurance, and Freight value of the goods
• \( \text{Duty Rate} \) — Customs duty rate as a percentage
• \( \text{VAT} \) — Value Added Tax calculated on (CIF + Duty)

Explanation: The duty is calculated first based on the CIF value, then VAT is calculated on the sum of CIF and duty.

3. Importance of Import Tax Calculation

Details: Accurate import tax calculation is crucial for businesses to determine the total cost of imported goods, comply with customs regulations, and properly price their products.

4. Using the Calculator

Tips: Enter the CIF value in £, duty rate as a percentage (e.g., 5 for 5%), and VAT rate as a percentage. All values must be valid (CIF > 0, rates between 0-100).

5. Frequently Asked Questions (FAQ)

Q1: What is CIF value?
A: CIF stands for Cost, Insurance, and Freight - it includes the cost of the goods, insurance, and all transportation charges to the port of destination.

Q2: How do I find the duty rate for my goods?
A: Duty rates vary by product type and origin. Check the UK Global Tariff or consult with customs authorities.

Q3: What is the current VAT rate in Northern Ireland?
A: The standard VAT rate is 20%, with reduced rates of 5% and 0% applying to certain goods.

Q4: Are there any exemptions?
A: Some goods may be exempt from duty or VAT depending on their nature, origin, or intended use.

Q5: Does this apply to goods from Great Britain?
A: Under the Northern Ireland Protocol, different rules may apply to goods coming from Great Britain.