What is duties tax

2 min read
Spread the love

For a time, when we were a part of the EU, the days of duty free shopping was a things of beauty. Limited to Airport shops and Ferry terminals, or even on the aeroplane itself, you did not have to pay a duty tax. Everyone was given a personal limit and if you exceeded it, you had to declare it at the customs desk by going through the Red channel. Now that we are out of Europe, this duty tax will all return so, it might be an idea to find out what Duty tax is. You could just wait until the alcohol and the cigars and cigarettes you want are on general sale in the UK. They are stored in a specially controlled warehouse that uses Bonded Warehouse Management Software to issue their release.

Image credit

If you can’t wait for the Gaina Bonded Warehouse Management Software system to release them then you can still buy things abroad. Duty is a tax that is only placed on certain goods and services or a transaction. When items are imported or exported, they are charged a certain percentage back to Her Majesty’s Revenue and Customs. This is a good way for Governments to generate revenue and are enforceable by law.

Image credit

For large companies that import goods, the Duty is based on the percentage of the value they are looking to bring in. The UK government worked hard to make sure that after Brexit these were not too high by limiting the EU tariffs.

You May Also Like

More From Author

+ There are no comments

Add yours

This site uses Akismet to reduce spam. Learn how your comment data is processed.