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I`m planning to buy products from china do i have to pay taxes here in USA or china company will pay taxes ? |
I`m planning to buy products from china do i have to pay taxes here in USA or china company will pay taxes thank you for your help Hello. When you purchase good in China and import them to the US you have to pay and import duty also known as a tariff. The amount of the tariff you have to pay depends on the product category. Some products will have a 5% duty, some 10%, some 20%. So once you find out what the tariff is (by calling your local Customs and Border Control office) you add that to the cost of the product. So if it is costing you $2.00 per unit to buy theproduct in China and the duty is 10%, you will have to pay the government $.40 per unit when the goods arrive. To calculate the total cost per unit of what yopu are buying you have to calculate the costof the product, plus the tariff, plus the cost of shipping. Best, Michael Michael A. Zakkour Managing Director China BrightStar, LLC www.chinabrightstar.com Your question is unclear. What kind of taxes are you thinking of. Import duties, if any would have to be paid before products are imported. If you are buying for resale, profits would be subject to the same income tax as anything else. Sales or use taxes would follow your state's rules. |
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