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VAT on Imports Intra EU

  • 17-05-2010 7:58pm
    #1
    deepriver
    Registered Users, Registered Users 2 Posts: 346 ✭✭


    I am think about importing a product (clothing) from Spain to sell over the summer period (online, festivals etc).

    I am trying to figure out the tax & VAT implications and the best way of getting the product into the country.

    The first order / pallet will have a value of about 1300e. When I sell the product online I will charge the full VAT amount of 21%.

    I dont expect the turnover for the year to exceed the revenue threshold for VAT registration.

    However should I register for VAT in order to import the products and do I need a VAT number at customs / border or should the products sail through?

    Do I need a business name to get the product through customs.

    Any feedback welcome


Comments

  • #2
    wishful thinker
    Closed Accounts Posts: 78 ✭✭wishful thinker


    deepriver wrote: »
    I am think about importing a product (clothing) from Spain to sell over the summer period (online, festivals etc).

    I am trying to figure out the tax & VAT implications and the best way of getting the product into the country.

    The first order / pallet will have a value of about 1300e. When I sell the product online I will charge the full VAT amount of 21%.

    I dont expect the turnover for the year to exceed the revenue threshold for VAT registration.

    However should I register for VAT in order to import the products and do I need a VAT number at customs / border or should the products sail through?

    Do I need a business name to get the product through customs.

    Any feedback welcome

    As Spain is in the EU, they operate VAT, same as Ireland.

    Customs/Duties - not operate within EU on clothing products (e.g. of types of goods with duty on them - alcohol, tobacco, fuel)

    If you VAT reg and do business with this Spanish Co (assuing VAT reg) then they do not charge you VAT, you self account for it - called Reverse Charge

    You can easily set up a business name with the CRO - can do it online cheaply - this is a Sole Trader. A company takes a bit more work and as you can imagine other obligations arise - annual compliance

    Threshold for VAT Reg - €41,000 for persons making intra-Community acquisitions

    Also if VAT Reg, you can claim VAT incurred on costs related to the business - e.g. Telephone, Stationary, Advertising, Website


  • #3
    deepriver
    Registered Users, Registered Users 2 Posts: 346 ✭✭deepriver


    thanks for the reply WT, i got on to revenue and customs in the mean time and established that, you might be able to help me on this query, if i register for vat as a sole trader, will my status as a paye employee change with the dsw to self employed and lose any entitlements or would rev / dsw have those communication channels... I understand self employed with dsw have much poorer entitlements to pension etc, not sure it is a route i want to go down, please excuse typing, i broke my finger!


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