Dear forumers,
Just to share 1 new thing I learned when using courier service for goods from overseas.
The CIF value is not actually as in your invoice. The custom dept have their own calculation for minimum freight charges. Actual freight charges is only used when exceed the minimum charges.
Here are few example of min FC;
China- RM 107.97
Japan - RM 322.15
UK - RM 299.05
US - RM 379.98
Total shipment value is the CIFC which is;
FOB (item cost) + Insurance (1%) + min FC
for example, to be eligible for below RM500 value (tax exempted value) for a purchase in US, you total item value including insurance should be RM 500- RM 379.98 = RM 120.02.
If your purchase exceed RM 120.02, your item will be taxable according to HS code.
Above example applicable for all courier service, fedex, DHL, UPS and etc. From my experience using EMS, above calculation my not be applicable.
Hope this would help.
Malaysia Import Duties
Jun 25 2013, 01:16 PM
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