Importing from a third country for resale in Ire

cookiequeen

Ok so I'm in the process of doing a feasability study for a company selling sports equipment and clothing to the public in a retail shop in Ire. I want to import goods from USA based wholesaler. I was on the cro website and what I can gather is that I need to pay 21% VAT on the value of all goods coming in(i.e. the cost of the products plus shipping costs plus insurance) This needs to be paid before the goods can be released from the port in the form of cheque cash or bank draft. Or I can set up some form of account whereby the money is aready lodged and is automatically taken out when the goods dock.

Can anyone tell me if I am reading this information correctly?
Would there be any other costs that I have not picked up on like some extra tax or duty?
Also is it normal practice for the freight company to organise the payment of VAT etc for the release of the products for me? Obviously they wouldn't pay it themselves but maybe act as an agent on my behalf?

I'm just a little confused as to how the money gets paid in reality for the average joe retailer who is shipping in maybe 2 or 3 containers from the same source per year?

Any help appreciated.

bernard colgan

cookiequeen wrote: »

Ok so I'm in the process of doing a feasability study for a company selling sports equipment and clothing to the public in a retail shop in Ire. I want to import goods from USA based wholesaler. I was on the cro website and what I can gather is that I need to pay 21% VAT on the value of all goods coming in(i.e. the cost of the products plus shipping costs plus insurance) This needs to be paid before the goods can be released from the port in the form of cheque cash or bank draft. Or I can set up some form of account whereby the money is aready lodged and is automatically taken out when the goods dock.

Can anyone tell me if I am reading this information correctly?
Would there be any other costs that I have not picked up on like some extra tax or duty?
Also is it normal practice for the freight company to organise the payment of VAT etc for the release of the products for me? Obviously they wouldn't pay it themselves but maybe act as an agent on my behalf?

I'm just a little confused as to how the money gets paid in reality for the average joe retailer who is shipping in maybe 2 or 3 containers from the same source per year?

Any help appreciated.

As for extra duties , you will need to check the Taric code http://ec.europa.eu/taxation_customs/dds/tarhome_en.htm when you find the code for your goods put it in and the country you are importing from , it will tell you if there is any extra duty to pay and what % it is of goods value. You will need a shipping agent, easy enough, i do work with one who i find helpfull and customer friendly and fairly priced, he will arange shipping and when your goods arrive you pay him for shipping and any custom charges incured. if you want i will forward my shipping agent. why are you buying from america , have you shopped around for suppliers ?
pm me and i might be able to help you with suppliers.

antoinolachtnai

You also need to consider issues like safety approvals and relevant standards.

Also, if these are branded goods, the US wholesaler may not be able to sell them to you for import to Europe. If you do import them and sell them, you may be in breach of the brand owner's intellectual property rights.

cookiequeen

cool thanks for the help.