E-Commerce & Product Sellingintermediate
Customs & Duties
Definition
Taxes and charges imposed by governments on goods being imported or exported across international borders.
Why it matters
Customs costs can erode margins significantly when sourcing from overseas or selling internationally. Ignoring them is a common and expensive mistake for new product founders.
Example
A founder orders goods from China and discovers that a 12% import duty plus 20% UK VAT adds £3.20 to the landed cost of a £15 item.
Related terms
Learn the language of business - and build the systems behind it.
Rich Girl Systems turns 1168+ founder concepts into a step-by-step programme with daily challenges, XP and your own assistant.
Take the free founder quiz