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Paying tax on imported goods.

  • 23-09-2010 10:14am
    #1
    plego
    Closed Accounts Posts: 18 ✭


    Hi, I'm thinking about importing new goods in a container from outside the EU. I do not have a VAT number as I am not signed up as a business yet.

    Just wodering how the process works and if I can get goods delivered to Ireland and collect them without a VAT number.? Can I just collect the goods and pay the VAT on the day.?


Comments

  • #2
    RUDOLF289
    Registered Users, Registered Users 2 Posts: 794 ✭✭✭RUDOLF289


    plego wrote: »
    Hi, I'm thinking about importing new goods in a container from outside the EU. I do not have a VAT number as I am not signed up as a business yet.

    Just wodering how the process works and if I can get goods delivered to Ireland and collect them without a VAT number.? Can I just collect the goods and pay the VAT on the day.?

    Hello Plego,

    There are a whole range of issues that you need to consider BEFORE you start importing ;

    1) Shipping process
    Do not leave the shipping arrangements to your supplier, no matter how competitive / attractive the rate looks that your supplier says he can get upto arrival Dublin (or Cork). There are many threads and posts in this forum outlining the extortion that takes place on arrival. Buy on an FOB basis and negotiate rates on this end with your freight forwarder.

    2) Customs
    Have you considered the import duty on products from outside the EU ? If you can detail the product(s) or send me a PM, I will have a look at the Customs classification and let you know what the rate of duty is.

    3) VAT
    Register for VAT as soon as possible and have it back dated to include your shipment. If you are not registered for VAT, you will pay 21% over the CIF (Cost, Insurance, Freight) value of the shipment plus the duty without being able to claim that - deductible input - back.

    I am attaching a document that you may find helpfull. It gives you some of the answers to the issues that you may encounter.

    Feel free to contact me any time if you require any clarification or assistance

    Cheers,
    Rudolf289


  • #3
    plego
    Closed Accounts Posts: 18 ✭plego


    Hi Rudolf289,

    thanks for the information, I'll look into it more and send you a pm if I have any more questions.

    thanks for your time


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