IMPORT DUTIES & TAXES CALCULATION - COMMERCIAL
IMPORT DUTIES & TAXES CALCULATION - Instead of depending on others/C&F Agents: Learn here AV, CD, SD, RD, VAT, AT, AIT, TTI, ITC, etc. step by step: FORMULA 1st need to calculate Assessable Value (AV): AV = CIF + Landing Charge (L/C) Where, CIF Value = Cost + Freight (C&F) + Insurance Let's go: Step 1. CIF Calculation: ✓ Cost # FOB Value ✓ Freight Charges # Actual or if unknown, then 20% on FOB ✓ Insurance Cost # obtained from Insurance Cover Note as Total Premium mandatory for shipment by Letter of Credit, or if no Insurance opened/unknown, then 1% on C&F value is usually this is for industrial import. Thus, CIF: A. C&F = Cost + Freight B. Insurance/I = 1% = 1% on C&F C. CIF = C&F + I Step 2. L/C: CIF*1% (1% on CIF value) Step 3. AV = CIF + L/C Step 4. Conversion into BDT EXAMPLE For a certain import, let FOB Value = USD 80 & known freight charge = USD 20 Step 1. A. C&F Cost =$(80 + 20)=100 B. Insurance Cos...