customs duty on Sports Goods

AsianIrish wrote: »

I am looking for some help regarding customs duty and VAT on sports items importing from Pakistan. I am looking to get a very small boxing and MMA business going where I want to supply items to local clubs but I am not sure about the duty and VAT.

I will only be getting about small quantities like 20 pairs of gloves, 10 pairs of boxing gloves, 50 pair of gaelic gloves etc. What is the best way to go about it. Do I have to register a company to do this small business and also what will customs and VAT be for importing these items. Thank you!

Goodmorning AsianIrish,

Provided that your supplier furnishes you with a GSP form A, the imports of sports articles as you mentioned in your post can be importer @ zero % duty. If no GSP form A is issued, the rate of duty is 2.7%.

VAT is charged at 23%.

Duty and / or VAT is charged over the following values ;

Duty ;
- Cost of the goods
- Freight Costs

VAT
- Cost of the goods
- Freight costs
- Duty (if any)

You may need to speak to an accountant in order to get proper advice on setting up a company - or not. It might be an option to register as a sole trader, but an accountant would be best place to give you all the ins and outs.

Cheers,
Rudolf289