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Customs charges

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  • 23-08-2016 11:06pm
    #1
    TGi666
    Registered Users Posts: 451 ✭✭


    Hi folks,

    Question about customs charges:
    If I order 100 items from China for €100 and I plan to sell each for €10 so that's about €1000 to me.
    Will I be subject to customs charges on the amount these items were purchased for or what I intend to sell them for (or what revenue deem they are worth)?

    Thanks in advance


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


    TGi666 wrote: »
    Hi folks,

    Question about customs charges:
    If I order 100 items from China for €100 and I plan to sell each for €10 so that's about €1000 to me.
    Will I be subject to customs charges on the amount these items were purchased for or what I intend to sell them for (or what revenue deem they are worth)?

    Thanks in advance

    TGi666

    Customs duty will be charged over ;

    1. Cost of the product (your supplier's invoice)
    2. Freight cost from origin to Ireland
    3. Marine / Transport insurance premium

    VAT will be charged over all of the above plus customs duty.

    NB : If you are a VAT registered trader, the VAT paid on imports is a deductible input in your periodic VAT return. If your turnover is less than
    € 75000 per annum, you are not obliged to register for VAT. However, if you are not registered for VAT, you can not claim any VAT paid on imports back.

    Also, bear in mind, if you register for VAT, you will have to remit the VAT you charge the clients to Revenue.

    Feel free to post again or PM me if you require any further assistance

    Cheers,
    Rudolf289


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