Import from Third country (China)

I

iwsf

Registered User
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53
Good morning,

i found many valuable informations on this website , thank you for that.
I have however one question. I am going to setup a sole trader business and will be importing goods from China. I will register for VAT as i will most likely reach the Euros 75000 limit . My understanding is that i will have to pay the VAT as the goods come from a third country ? If they were coming from the EU then i wouldn't have to pay the VAT ?
Can somebody correct me if i am wrong ?
Yes i know i will discuss this with an accountant but just wanted to check before .
Thank you
 
Goods from outside EU
If you are VAT registered in Ireland then the VAT and any customs duty is calculated on goods ariving in Ireland and that is paid to Revenue. The VAT paid becomes a deduction on your Irish VAT returns.
THis is classed as an IMPORT

Goods from within the EU
If you are VAT registered in Ireland then You give your supplier in the other EU country your VAT number and they ship the goods without VAT.
These goods are classed as EU ACQUISITIONS
 
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