The term 'de minimis value' is often heard in international trade.
In the context of shipping and logistics, it refers to the value threshold at which a shipment is exempt from duties and taxes/VAT upon import into a particular country.
Different countries have various de minimis thresholds. Once a shipment's value surpasses this predetermined threshold, duties and taxes/VAT apply.
For example, members of the European Union 🇪🇺 who use the Euro as their currency all have the same de minimis thresholds. If the shipment's value is up to 150 EUR, it is exempt from duties. However, VAT is always charged regardless of the value. If the shipment's value is over 150 EUR, both duties and VAT apply.
The de minimis value is significant because it can substantially influence the total cost of an international transaction. Therefore, understanding the de minimis value of the destination country can help you estimate the overall cost of shipping, including potential import duties and taxes.
Forwardme offers a reference sheet with each country's de minimis values, which can help you plan your international shipping more effectively. Remember, these thresholds are subject to change as countries adjust their import policies, so always ensure to check the current de minimis value before proceeding with your shipment.
|Country||ISO||Duty de minimis (in local currency)||Tax de minimis (in local currency)|
|Canada||CA||CAD 20||CAD 20|
|Australia||AU||AUD 1000||AUD 1000|
|Japan||JP||JPY 10,000||JPY 10,000|
|China||CN||CNY 50||CNY 50|
|Brazil||BR||BRL 50||BRL 50|
|South Africa||ZA||ZAR 500||ZAR 500|
|India||IN||INR 5,000||INR 5,000|
|Mexico||MX||MXN 50||MXN 50|
|Switzerland||CH||CHF 300||CHF 5|
|Turkey||TR||TRY 150||TRY 30|
|Saudi Arabia||SA||SAR 1,000||SAR 1,000|
|Singapore||SG||SGD 400||SGD 400|
|South Korea||KR||KRW 150,000||KRW 150,000|
|New Zealand||NZ||NZD 400||NZD 60|
|Sweden||SE||SEK 1,600||SEK 300|
|United Arab Emirates||AE||AED 1,000||AED 1,000|
|Argentina||AR||ARS 3,000||ARS 500|
|Norway||NO||NOK 3,000||NOK 350|
|Malaysia||MY||MYR 500||MYR 500|
|Thailand||TH||THB 1,500||THB 1,500|
|Poland||PL||PLN 150||PLN 45|