Avoiding Duty and Taxes on Imports - Page 4

charliebrownq88 · 14-08-2009, 08:02 AM

i need help too. lets say i buy 10 ipods for 60 each and imported them to the U.S. anyone know what the VAT would be?

studio1one · 14-08-2009, 08:06 AM

??

You don't have VAT in the US do you?

**FlashMagic** · 14-08-2009, 11:17 AM

Quote:

Originally Posted by charliebrownq88

i need help too. lets say i buy 10 ipods for 60 each and imported them to the U.S. anyone know what the VAT would be?

I believe the US don't have VAT instead it is called sales taxes and only the end consumer has to pay them. If your a reseller you wouldn't have to pay these taxes. However if your importing from abroad you would probably have to pay customs duty and a handling charge unless your importing from one of the NAFTA countries, Canada or Mexico.

Correct me if I'm wrong anyone from US.

JZ100K · 20-08-2009, 10:15 AM

Quote:

Originally Posted by londonking

Remember, avoiding tax is legal. Evading tax is illegal. Let's take an example, if I want to import a container of garments from India it will cost me about 15% in import duties. I could import the same stuff from Bangladesh and it will cost me 0% duties. So therefore I have avoided myself paying import taxes of 15%.

what other ways, can one avoid tax?

I was listening to an audio book, where a guy was on about why one you be a B business and not a S business in the USA as you could get tax free stuff that way.

I wonder where the best place is to learn about tax and business law in Birmingham (UK).

cos76 · 08-09-2009, 10:43 PM

great post, what i would like to know is.. if there is a way to estimate import tax/vat duties for example; 100 mobile phones from china?

thanks

**makeorbreak** · 21-09-2009, 07:44 PM

i understood that regardless of country of origin, taxes/duty is paid entering /released through UK customs otherwise what's the point of customs charging for some country and not others?
or have i got that wrong?
also is EU consignments charged differently to None EU consignments?

ShippingDude · 06-10-2009, 02:28 PM

Quote:

Originally Posted by cos76

great post, what i would like to know is.. if there is a way to estimate import tax/vat duties for example; 100 mobile phones from china?

thanks

Contact your customs broker, or if you don't have one, if you can figure out the Harmonized Tariff Schedule (HTS) number of your goods you'll be importing,
you should be able to figure out the Duty % * Value of Goods...at least in the USA

ShippingDude · 06-10-2009, 02:56 PM

Quote:

Originally Posted by FlashMagic

I believe the US don't have VAT instead it is called sales taxes and only the end consumer has to pay them. If your a reseller you wouldn't have to pay these taxes. However if your importing from abroad you would probably have to pay customs duty and a handling charge unless your importing from one of the NAFTA countries, Canada or Mexico.

Correct me if I'm wrong anyone from US.

US has Duty and Taxes (MPF & HMF) on imports, as well as, you as the importer need
to take out a Customs Bond.

VAT, as you know it, doesn't exist in the US.
We do have Sales Tax, debited to the consumer at time of purchase.

There are a few states with little to no sales tax, but their State Income Tax returns are higher...

**Pete** · 06-10-2009, 05:30 PM

Quote:

Originally Posted by ShippingDude

There are a few states with little to no sales tax, but their State Income Tax returns are higher...

There are also some states with no income taxes. Due to their oil wealth the folks in Alaska get paid by the state, not the other way around.

Sales tax and state income taxes vary widely in the US, and there is no national sales or use tax, which would be similar to VAT. There is recurring demand for some form of VAT to replace the federal income tax, but then the politicians could not use the tax code to favor heavy donors.

Riki80 · 11-10-2009, 08:24 PM

I am considering to bring in goods from India and have been reading up on http://www.businesslink.gov.uk website which is very helpful with the basics. I assume that the majority of us use and pay good money to accountants so they should be your first port of call.

The taxman is not someone to piss off at all. Once they're on you, they're on you for life in order to check up. When I was in the legal field there was a guy who brought in a tonne of tobacco for which the duty should have been about £85,000. HMRC had him by the balls and took a total of £940,000 from him in a confiscation hearing later on, about 11 times the original amount!!! And the law let them do that as well. Why? Well because they had benefitted from crime (evading the duty) then HMRC said that the rest of their assets were tainted by the proceeds of crime and took everything from them.

So think, is it really worth it?