Industry package
Import & Export
Trade & Customs · Freight & Container · WMS & Supply · Trace & Cold Chain · Finance · Sales & CRM
- 20 full users
- 2 sites
- 30 modules
Free tool
Import Cost Calculator
Calculate the total cash cost and the cost excluding VAT of an import from goods value, freight, insurance, customs duty, VAT and local charges. No sign-up needed; results update as you type.
See the system that does this automaticallyOpen the live demoImport Cost Calculator: what you need to know
Import cost is the total cash you pay: the invoice value plus freight, insurance, customs duty, VAT and local charges. Running this calculation before you order shows what a supplier quote really costs and how much cash you need to set aside.
Expert tip: Because VAT is usually deductible it affects cash flow more than cost: plan profitability on cost excluding VAT and cash needs on the total including VAT.
Import Cost Calculator: worked example
Example values: Goods value (FOB) 50,000 USD, Freight 3,200 USD, Insurance rate 0.3 %, Customs duty rate 8 %, Import VAT rate 20 %, Port and terminal charges 650 USD, Customs broker fee 300 USD, Inland transport and storage 450 USD. With these values the results are:
| Insurance premium | 176 USD |
|---|---|
| CIF value (customs value) | 53,376 USD |
| Customs duty | 4,270 USD |
| Import VAT | 11,529 USD |
| Local charges | 1,400 USD |
| Total cash outflow | 70,575 USD |
| Import cost excluding VAT | 59,046 USD |
How to use: Import Cost Calculator
- Enter your own values: Goods value (FOB), Freight, Insurance rate, Customs duty rate, Import VAT rate, Port and terminal charges, Customs broker fee, Inland transport and storage.
- Choose the currency; money inputs are converted at an approximate rate.
- Results are calculated as you type: Insurance premium, CIF value (customs value), Customs duty, Import VAT.
- Check every step of the calculation in the formulas below.
How is it calculated?
- Insurance premium = ([Goods value (FOB)] + [Freight]) × 1.1 × [Insurance rate] ÷ 100
- CIF value (customs value) = [Goods value (FOB)] + [Freight] + [Insurance premium]
- Customs duty = [CIF value (customs value)] × [Customs duty rate] ÷ 100
- Import VAT = ([CIF value (customs value)] + [Customs duty]) × [Import VAT rate] ÷ 100
- Local charges = [Port and terminal charges] + [Customs broker fee] + [Inland transport and storage]
- Total cash outflow = [CIF value (customs value)] + [Customs duty] + [Import VAT] + [Local charges]
- Import cost excluding VAT = [Total cash outflow] − [Import VAT]
Other tools running on Trade Cost Engine
Combines goods value, freight, insurance, customs duty, VAT and local charges into one cost chain and derives unit cost and profitability.
FCRSOFT
FCRSOFT does this for you automatically
You don’t need to do the calculations and checks on this page by hand every day. FCRSOFT derives them all automatically from the records entered in the field.
- CIF, duties and landed cost are calculated automatically in every trade file.
- Customs value and cost split are set up automatically according to the Incoterm.
- Unit cost and minimum selling price are recorded in every file.
Frequently asked questions
How is Import Cost Calculator calculated?
Calculate the total cash cost and the cost excluding VAT of an import from goods value, freight, insurance, customs duty, VAT and local charges. The calculation uses Trade Cost Engine: Combines goods value, freight, insurance, customs duty, VAT and local charges into one cost chain and derives unit cost and profitability.
Import Cost Calculator: what is it and when is it used?
Import cost is the total cash you pay: the invoice value plus freight, insurance, customs duty, VAT and local charges. Running this calculation before you order shows what a supplier quote really costs and how much cash you need to set aside.
Import Cost Calculator: what should I watch out for?
Because VAT is usually deductible it affects cash flow more than cost: plan profitability on cost excluding VAT and cash needs on the total including VAT.
How is Total cash outflow found?
Total cash outflow = [CIF value (customs value)] + [Customs duty] + [Import VAT] + [Local charges]. With the example values (Goods value (FOB) 50,000 USD, Freight 3,200 USD, Insurance rate 0.3 %, Customs duty rate 8 %, Import VAT rate 20 %, Port and terminal charges 650 USD) the result is 70,575 USD.
How is Import cost excluding VAT found?
Import cost excluding VAT = [Total cash outflow] − [Import VAT]. With the example values (Goods value (FOB) 50,000 USD, Freight 3,200 USD, Insurance rate 0.3 %, Customs duty rate 8 %, Import VAT rate 20 %, Port and terminal charges 650 USD) the result is 59,046 USD.
Worked example: Import Cost Calculator
Example values: Goods value (FOB) 50,000 USD, Freight 3,200 USD, Insurance rate 0.3 %, Customs duty rate 8 %, Import VAT rate 20 %, Port and terminal charges 650 USD. Insurance premium: 176 USD; CIF value (customs value): 53,376 USD; Customs duty: 4,270 USD; Import VAT: 11,529 USD; Local charges: 1,400 USD.
Is Import Cost Calculator free?
Yes. The tool is free, needs no sign-up and runs in your browser; the data you enter is not stored.
Can FCRSOFT do this calculation automatically?
FCRSOFT runs this calculation in every import and export file automatically and records landed cost and minimum selling price. You can try the Import & Export package in the live demo without installing anything.
Which currency can I calculate in?
Choose one of 28 currencies in the currency selector; monetary inputs are converted at an approximate rate. To use your own rate, enter the amounts directly.
FCRSOFT solutions
All inclusive
Enterprise Site — all products
Farm · Hatchery · Feed ERP · Processing · WMS & Supply · Sales & CRM · Finance · Maintenance · Trace & Cold Chain · B2B Commerce · Fleet & Vessel · Voyage & Chartering · Trade & Customs · Freight & Container
- 30 full users
- 1 sites
- 69 modules
