Taxation issues to consider when buying goods outside of the EU.
The Irish Revenue Commissioners have issued a reminder of the taxation obligations that arise when you buy outside the European Union (EU).
Revenue has confirmed that it raised €2.1 million in duties and VAT in 2014. It applied charges to 88,280 parcels.
Why? What are the rules when buying outside of the EU?
VAT is payable on the importation of goods from outside the EU if the value of the package is over €22. VAT is payable on the total value of the goods and not just on a value in excess of €22. Customs duty may also be payable on the goods, if the value of the goods is over €150. Read the Revenue reminder for more information.
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The material in this article is for general information purposes only and does not constitute legal or taxation advice. Specific legal and taxation advice should be sought before acting. All information and taxation rules are subject to change without notice.
No liability whatsoever is accepted by M. McLoughlin & Co. for any action taken in reliance on the information in this article