VAT IMPORT

Marh

Hi,

I am French and I moved to Ireland to create my import export company. I import electronic products from china to sell them in europe and ireland.

I need to know if when products are imported from china to ireland there is any VAT when the product arrives in ireland.

Thanks

TheWonderLlama

yes.

Jim2007

You are importing into the single EU market... so same rules apply: Yes.

Marh

Thank you for your reply !

I read on the revenu site that I could benefit from postponed accounting to avoid paying this VAT on imports. Do you know this system ?

Alan_007_

https://www.boards.ie/discussion/comment/120406193#Comment_120406193

Not trying to be too blunt, but you need to engage a professional accountant to help you with this.

Nobody is going to give you the kind of advice you need for free on the internet.

Citrus_8

https://www.boards.ie/discussion/comment/120406576#Comment_120406576

I very much agree.

RUDOLF289

https://www.boards.ie/discussion/comment/120406193#Comment_120406193

Hello Marh,

Yes, you can avail of Postponed Accounting (without the need to engage with an accountant - who very often would not know the finer points of how Customs & Excise works in relation to VAT on Imports).

Postponed accounting is one of the few - if not only - benefits of Brexit. If you are registered for VAT/EORI you can ask the customs broker to apply for Postponed Accounting on the customs entry. If you are in good standing with Revenue that request will be granted. It means that instead of paying VAT on arrival and then claim it back through your periodic VAT return, you account for the import transaction in your VAT return. That avoids cash outlay and makes it a purely administrative transaction.

Feel free to DM me if you require any further assistance

Cheers,

Rudolf289

RUDOLF289

https://www.boards.ie/discussion/comment/120406576#Comment_120406576

Oh yes they are ......... Especially people who are in the Logistics/International Transportation / Customs Clearance business are ideally positioned to assist.

RUDOLF289

https://www.boards.ie/discussion/comment/120413401#Comment_120413401

Refer my reply to Alan_007. It is a simple process that can be applied without the need for advice from an accountant.