My brother and I are in the process of setting up a business that sells a physical product and we just received our first stock load and it was welcomed to Ireland with a import/duty payment.
My main question is, after paying the VAT on the import, on our online store must I ask the customer to pay VAT on each product?
If vat must be paid on each product sold, what would be a clever way to do this would unloading extra charges at checkout?
Any help understanding selling of physical goods would be much appreciated.
My brother and I are in the process of setting up a business that sells a physical product and we just received our first stock load and it was welcomed to Ireland with a import/duty payment.
My main question is, after paying the VAT on the import, on our online store must I ask the customer to pay VAT on each product?
It's great to see people starting businesses but isn't this the sort of thing that you should know before you order goods?
Good information on business taxation here.