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Import goods from outside europe

  • 16-06-2012 4:03pm
    #1
    Rfusik
    Registered Users, Registered Users 2 Posts: 20 ✭


    Hi
    I am setting up a small online business in ireland. Will be selling goods imported from thailand. looking at the revenue.ie i figured that there is a threshold of 55k VAT free for a smalll business. I can imagine that when importing goods i will charged the duty and on the top of that 23% vat but wonder whats the story with the 55k threshold. as its a new business at the beggining i dont expect to exceed this threshold.
    Also would like to ask you if i can claim flight expenses to thailand for a business purposes. I'll be meeting clothing manufacturers and buying a stock for my shop.
    thanks


Comments

  • #2
    dbran
    Registered Users, Registered Users 2 Posts: 2,094 ✭✭✭dbran


    Hi

    The annual threshold for registration for VAT for goods is currently €75k. (55k was the old threshold circa 2006)

    If you are importing goods from Thailand you will be paying VAT on these goods at the point of entry. Depending on the circumstances you may want to register so that you can reclaim this VAT. But you would then have to charge VAT on your sales to customers.

    If the trips to Thailand are incurred wholly and necessarily in the course of business they would be allowable as a deduction against profits.

    Regards

    dbran


  • #3
    Rfusik
    Registered Users, Registered Users 2 Posts: 20 ✭Rfusik


    thanks dbran! that explains nearly everything
    Yes, this trip ( not sure if there will be more needed) is truly for business purposes. i am meeting with supplier/manufacturer and will be trying to find out more suppliers. i am planning on coming over for 2 weeks ( as for business) and maybe take another week for holidays ( as i have never been to Thailand before). also i am quiet sure i will be shipping some goods as well and samples.
    just wonder if i take another week, 10 days holidays and of course don't include that as an expenses would that have any impact on the accepting/rejecting expenses for instance, would that raise any question about the business trip ( i mean i am claiming expenses for 2 weeks but the overall trip takes 3 weeks and the flight were booked for 3 weeks ) can i simply just extend the business trip and enjoy the fact the i am in Thailand. might be a silly question but i am quiet newbie in this matter.
    also what documents need to be provided with the goods when shipping and when collecting in dublin. i will be shipping woman clothes, probably 50kg.


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