Hi all,
I have a few questions about import / export taxes. I have gone through lots of other posts and lots of boring government websites
but just want to be sure my assumptions are correct, and that no-one here has had an experience to the countary.
The best way is probably through 3 examples I have:
1) I'm importing MP3 players from china to sell in Ireland. From what I can see I have my total price (cost of goods + shipping + insurance = $1000) which I've paid. On top this I then have to pay a duty depending on the TARIC of the good (say this is 5% of the total price of $1000, giving me $1050), then VAT @21.5% on this $1050 giving me a total cost of $1275... for the goods. There should be no problem so long as I pay this charge and collect the goods from where they arrive. So on average I'm paying c. 30% more to import - this sound right?
2) I'm exporting MP3 players (to stick with the same example) from Ireland to the EU. So long as I am exporting to the pre-defined list of EU countries, and nothing on the "do not export" list, I should be liable for no charges, and the customer who receives should be liable for no charges. This sound right?
3) I'm (AGAIN) exporting mp3 players, but this time from Ireland to USA. I have to fill in the forms with customs online giving them the value of this (tot value, ship, insurance) etc. As the sender I have no charges, but the receiver has the same type of charges which were relevant to me in example 1, depending on the item, their country etc. In essence the customer (in order to collect the item from customs) will have to pay the relevant charge.
I know its very complicated due to country, item, taric codes and there are also items which are not included as they are listed as special items, but for the most part - is this logic correct.
Cheers for help
I have a few questions about import / export taxes. I have gone through lots of other posts and lots of boring government websites
but just want to be sure my assumptions are correct, and that no-one here has had an experience to the countary.The best way is probably through 3 examples I have:
1) I'm importing MP3 players from china to sell in Ireland. From what I can see I have my total price (cost of goods + shipping + insurance = $1000) which I've paid. On top this I then have to pay a duty depending on the TARIC of the good (say this is 5% of the total price of $1000, giving me $1050), then VAT @21.5% on this $1050 giving me a total cost of $1275... for the goods. There should be no problem so long as I pay this charge and collect the goods from where they arrive. So on average I'm paying c. 30% more to import - this sound right?
2) I'm exporting MP3 players (to stick with the same example) from Ireland to the EU. So long as I am exporting to the pre-defined list of EU countries, and nothing on the "do not export" list, I should be liable for no charges, and the customer who receives should be liable for no charges. This sound right?
3) I'm (AGAIN) exporting mp3 players, but this time from Ireland to USA. I have to fill in the forms with customs online giving them the value of this (tot value, ship, insurance) etc. As the sender I have no charges, but the receiver has the same type of charges which were relevant to me in example 1, depending on the item, their country etc. In essence the customer (in order to collect the item from customs) will have to pay the relevant charge.
I know its very complicated due to country, item, taric codes and there are also items which are not included as they are listed as special items, but for the most part - is this logic correct.
Cheers for help