Import Tariffs and Their Types

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Import tariffs are the tool used by customs to regulate international trade. This tax is levied on imports of goods from countries outside the European Union. Its application is not without complexity, as there are different types applied depending on the tariff headings, so the correct classification of the goods is vital to prevent penalties or delivery delays.

The primary function of import tariffs is to prevent unfair competition that could harm the internal industry and commerce of the European Union. This is achieved by applying a tax that increases the cost of the imported product, improving the competitiveness of community products.

Bull Importer manages customs procedures for its clients, avoiding delays in container deliveries and administrative penalties, something that can occur due to inexperience in classifying the goods.

In some cases, the protective function of import tariffs can prevent certain products from entering by applying a very high tax. In other cases, specific agreements between governments favor the importation of certain goods by applying low tariffs, as in the case of clothing manufactured in Bangladesh.

Classification of Import Tariffs

Import tariffs are applied based on the classification of goods according to TARIC codes. Tariffs can be more or less reduced and, in some cases, imports may be exempt from payment depending on the country of origin and the goods in question. The most common tariffs are as follows:

• Ad-Valorem. In this case, which is the most common type of tariff, a percentage is applied to the value of the goods.
• Specific. These are determined by the volume or quantity of goods imported. They can be applied based on net weight, number of units, alcohol content, etc.
• Mixed. They combine an ad-valorem tariff with a specific one. The final tariff is the sum of both.
• Compound. These are the most complicated to calculate because they combine different tariffs in a group to determine which one applies according to regulations.
• Duties Associated with Agricultural Policy. These tariffs originate from the European Union’s agricultural policy and generally consist of a combination of mixed and compound tariffs.

The above are the tariffs considered for normal application, which are not used in all cases or in all countries. Depending on certain requirements, measures can be applied that reduce or even exempt the tariff. The most important tariff reductions are tariff quotas, tariff suspensions, generalized system of preferences (GSP), and preferential agreements.

At Bull Importer, we work to streamline our clients’ import operations, ensuring the success of their businesses. If you are interested in importing goods from Asia or other continents, do not hesitate to contact us.

What do you get with us besides peace of mind and security?

1. 1. We verify that the product certificates comply with current CE regulations and not China Export.
   2. We verify that the supplier or manufacturer is legal, exists, and is solvent.
   3. You benefit from years of negotiations with freight forwarders, banks, carriers, customs agents, insurers, and the negotiated costs based on the volume of operations carried out for over 25 years of management.
   4. You benefit from knowing that you are surrounded by the best specialists and technicians in the entire chain, from purchase to delivery of the product at your facilities.
   5. You ensure that a rigorous control and procedure will be followed, which has been patented in intellectual property by the company’s CEO since 1986 and has been updated year by year as regulations, tariffs, dumping, anti-dumping, etc., have changed.
   6. You make all payments to Bull Importer and not to a company in China, India, Turkey, Bangladesh, or other countries, further guaranteeing the entire process.
   7. You save the hassle of formally attending to all the repetitive documentation and justification to all participants and authorities at all times.
   8. You avoid having to pay attention during the following 5 years to possible inspections of your imports due to lack of documentation or transparency or unintentional non-compliance on your part caused by third parties (agents and freight forwarders) who did not do their job well.
   9. You save hours and hours of consultancy, online courses, and advisory services for correct importation and accounting of the import.
   10. You get total prices, with all taxes and tariffs included to your company, KNOWING IN ADVANCE the REAL PROFITABILITY OF YOUR IMPORT.

Access our unique monthly offers. Pay once and repeat at no cost as many times as you want. Make imports with complete security, without losing profitability, and focus 100% on your business.