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VAT rates and such

  • 19-09-2004 5:06pm
    #1
    Peace
    Registered Users, Registered Users 2 Posts: 2,758 ✭✭✭


    Hey,

    I'm thinking of buying an item from Canada. Its expensive, neary 4k euro. Now the catch here is i desperately want to avoid a serious bend over on the VAT & Customs.

    So the item i'm thiking of buying i think can be classed as spare parts. I read on a different forumn that in the UK spare parts are VAT rate of less than normal ie. less than 21% (here in Ireland).

    Does anyone know where i can find a list of VAT & Customs rates that would hit me when i'm importing stuff fromm outside the EU??


Comments

  • #2
    onedmc
    Registered Users, Registered Users 2 Posts: 456 ✭✭onedmc


    As with all matter relating to the collection of revenue you should check the website www.revenue.ie for this information. This will also lead you to the european Taric code costs on http://europa.eu.int/comm/taxation_customs/dds/en/home.htm. These are standard accross europe with some exceptions.

    I think you will have to pay the full 21% VAT. But in some cases there can be lower customs rates for unfinished products. For example forks imported from china then get polished in say NewBridge pay only 2% as opposed to 8% if the 'manufacturing' was 'finished' in china. Dont know much about canada or parts so you will have to do some checking.

    Also remember customs are charged on the landed price that is to say initial price plus shipping. And VAT is payable on the sale price or value added price. VAT will be charged (as opposed to payable) on initial entry and then you settle the difference with the revenue afterwards. But if you are an individual then the only VAT you pay will be ((Price+transport+charges)*customs%)*VAT%) or somthing like that. Your shipping agent normally works this out.


    regards

    DMc


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