How Can I Prepare For Import And Export In Kenya?

How much is duty for a car in Kenya?

Import duty- 25% Excise duty- 20% + import duty.

Value added tax – 16% + import duty + excise duty.

IDF (Import declaration fee) & Railway Development Levy-2.25% and 1.5% respectively..

What does Customs do with packages?

‘Held at Customs’ means the package you are sending to the destination country is held by the officials of the importer country’s customs office. These government bodies hold the packages until they ensure that only permissible items cross their border and the taxes (Duties & Excise) are paid for the import.

What is export checklist?

This checklist allows you to assess the progress of your exporting initiative or to get a snapshot of the entire process. Before Exporting: Make any necessary product modifications for the export market including but not limited to product adaption, redesign, labeling or packaging. …

What is the process of import and export?

Typically, the procedure for import and export activities involves ensuring licensing and compliance before the shipping of goods, arranging for transport and warehousing after the unloading of goods, and getting customs clearance as well as paying taxes before the release of goods.

How do I start exporting?

How To Start Import Export Business In India – The Complete GuideGet a PAN Card.Select type of Business Entity.Open a Current Account.Don’t forget the IEC Code!Choose your export product.Your Registration Cum Membership Certificate (RCMC) is important too!Selecting the Right Export Market.Finding Buyers for your Product.More items…•

What are the things we can export from India?

Hemant SinghSectorShare in Export (%) 2018-19Value of Goods (US$ )1. Petroleum products14.1046.542. Pearls, precious and semi Precious stones7.7825.983. Drug formulations, biologicals4.3614.394. Gold and other precious metal jewellery3.9212.946 more rows•Mar 14, 2020

How do I import goods into Kenya?

Kenya Imports Documents Required – Customs Clearance1.1 Import declaration form. An IDF must be applied for and obtained from the Kenya Revenue Authority for any Commercial Importation. … 1.2 Certificate of Conformity (if applicable) … 1.3 Master Bill of Lading. … 1.4 Packing List. … 1.5 Commercial Invoice. … 1.6 Exemption letter (if applicable) … 1.7 Dispatch of documents in time.

How much is car import duty in Kenya?

Car Import Taxation and Charges in Kenya The Importation rules and regulation in Kenya imposes the following import tax rates: Import Duty: Around 25% dutiable value. Excise Duty: Around 20% of the sum of import duty and customs value. Value Added Tax: 16% of the sum of import duty, customs value and excise duty.

Is it cheaper to import a car in Kenya?

The first thing that comes to mind when you decide to import a car to Kenya is the cost. Importation might be cheaper than buying from a dealership but due to so many costs accumulated throughout the process, it seems like it’s more expensive.

How are duties calculated?

Once you have found the rate, you can calculate the duty on your shipment. To do this add up the value of the goods, freight costs, insurance and any additional costs, then multiply the total by the duty rate. The result is the amount of duty you’ll need to pay customs for your shipment.

What documents do I need for imports?

Let us discuss some of the common documents required for import customs clearance procedures and formalities in some of the importing countries.Bill of Entry:Commercial Invoice.Bill of Lading / Airway bill :Import License.Insurance certificate.Purchase order/Letter of Credit.Technical write up, literature etc.More items…

Is Kenya a poor or rich country?

Kenya is a lower-middle income economy. Although Kenya’s economy is the largest and most developed in eastern and central Africa, 36.1% (2015/2016) of its population lives below the international poverty line. This severe poverty is mainly caused by economic inequality, government corruption and health problems.

What food do we import from Kenya?

Kenya imports 72 percent of consumer-oriented agricultural products mainly from Uganda, South Africa, Europe, India and the United States. According to the Economic Survey 2018, the country’s major food imports include maize, unmilled wheat and wheat flour, rice and sugar.

What documents are required for import and export?

However, as a thumb rule, there are a set of general documents that most businesses need to comply with when importing or exporting goods.List of Documents required for Exports Customs Clearance. … Pro Forma Invoice. … Customs Packing List. … Country of Origin or COO Certificate. … Customs Invoice. … Shipping Bill. … Bill of Lading.More items…•

How is import duty calculated Kenya?

In general, Customs duty is levied at rates between 0% and 100%, with an average rate of 25%. Imports into Kenya are subject to a standard VAT rate of 16%, levied on the sum of the CIF value, duty, and other applicable taxes.

How much tax do I pay for import goods?

5%On most products imported into Australia, customs duty is 5% of the value of the goods converted to Australian dollars, but this is dependent on the type of goods.

What are the major imports in Kenya?

Top 10Machinery including computers: US$1.4 billion (9.8% of total imports)Electrical machinery, equipment: $1.3 billion (9.1%)Vehicles: $1.2 billion (8.8%)Mineral fuels including oil: $1.1 billion (7.9%)Iron, steel: $878.2 million (6.3%)Plastics, plastic articles: $828.4 million (5.9%)More items…•

Which product is best for Import Export?

A higher profitability is likely to give you quick success in the business.Oil Import. … Organic Food Export. … Processed Food Item Export. … Readymade Garment Import Export. … Sugar Export. … Tea Export. … Tobacco Export. … Spices Export. Indian spices is famous all over the world.More items…•

What is Kenya’s biggest export?

Kenya’s chief exports are horticultural products and tea. In 2005, the combined value of these commodities was US$1,150 million, about 10 times the value of Kenya’s third most valuable export, coffee. Kenya’s other significant exports are petroleum products, sold to near neighbours, fish, cement, pyrethrum, and sisal.

What is the tax on imported goods called?

Import duty is a tax collected on imports and some exports by a country’s customs authorities. … Depending on the context, import duty may also be known as a customs duty, tariff, import tax or import tariff.

How do I export goods?

Export PlanningAssess your company’s export readiness.Build an export plan.Research and select your target market.Create an export marketing plan.Determine the best methods of delivering your product or service to your target market.Develop a sound financial plan.Understand the key legal aspects of international trade.