Question 1

What is the import duty rate for Jewellery & Precious Metals in European Union?

Accepted Answer

The MFN (Most Favoured Nation) import duty rate for Jewellery & Precious Metals (HS 7113 / 7114) in European Union is 2.5% on the CIF value. HS 7113–7114. Relatively low duty for precious metal jewellery.

Question 2

Is VAT charged on Jewellery & Precious Metals imports to European Union?

Accepted Answer

Yes. European Union charges VAT at 20% on the CIF value plus any import duty. This applies to virtually all commercial imports.

Question 3

Are there FTA rates available for Jewellery & Precious Metals in European Union?

Accepted Answer

European Union has free trade agreements with CETA (Canada), JEFTA (Japan), EU–Korea FTA, EU–Vietnam FTA (EVFTA), EU–UK TCA. Check whether your origin country qualifies for a preferential rate on HS 7113 / 7114.

Question 4

How is import duty calculated for Jewellery & Precious Metals entering European Union?

Accepted Answer

Duty is calculated on the CIF value of the goods. CIF value includes the product cost, international freight, and insurance. The MFN duty of 2.5% is applied to this value. VAT (20%) is then applied on the CIF value plus duty.

European Union Import Duty Rate for Jewellery & Precious Metals

How duty is calculated

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Jewellery & Precious Metals duty rates in other markets