Overview of taxes in Iceland

This article introduces Icelandic customs import and export taxes, including an overview, tariffs, sales taxes and Standard Tax threshold.

[Overview]
Whether individuals or business entities import goods into Austria (from countries outside the EU), they must pay import duties and taxes. All import duties and taxes are calculated based on the freight value, i.e. the CIF price.

[Tariffs]
Austrian tariff rates generally range between 0% (e.g. books) and 17% (e.g. Wellington boots). Certain goods, such as laptops, mobile phones, digital cameras and game consoles are exempt from tariffs. Certain goods may be subject to additional taxes, calculated based on the country of origin, such as bicycles made in China, which are subject to an additional 48.5% anti-dumping duty.

[VAT]
The standard VAT rate in Austria is 20%, and certain goods, such as books, enjoy a preferential VAT rate of 10%. VAT = VAT rate × (CIF price + import tariff).

[StandardTax threshold]
Austrian import tariffs all have a standard tax threshold. Imported goods with a value of no more than 150 euros (FOB) are exempt from customs duties; imported goods with a value of no more than 22 euros (FOB) are exempt from value-added tax; imported goods with a total value of no more than 10 euros (FOB) are exempt from customs duties and value-added tax.

[Others]
Consumption tax: taxes and fees levied on specific goods such as tobacco products. Additional customs fees: fees levied for inspections, tests and tests that must be performed when imported goods pass through customs.