How much is duty fee Korea?

Korea imposes a uniform 10 percent Value Added Tax (VAT) on all goods imported into the country as well as those manufactured domestically. This flat tax rate applies across various industries and product categories, ensuring a consistent and predictable tax burden for businesses and consumers.

In addition to the standard VAT, Korea levies a special excise tax on the importation of certain luxury items and durable consumer goods. The excise tax rate ranges from 10 to 20 percent, depending on the type of product being imported.

The excise tax is designed to discourage the consumption of luxury goods and durable consumer items, which are often seen as non-essential purchases. By imposing a higher tax on these products, the government aims to promote responsible spending habits and encourage consumers to prioritize their financial resources.

Importers are responsible for paying both the VAT and the excise tax, if applicable, on their goods. These taxes must be settled in Korean Won, the country's official currency.

Tariffs, which are customs duties imposed on imported goods, may also be applicable depending on the specific product and its country of origin. However, the VAT and excise tax are separate from tariffs and are applied regardless of whether a tariff is levied on the goods.