VAT | FerrariChat

VAT

Discussion in '458 Italia/488/F8' started by 2Veloce, Mar 6, 2016.

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  1. 2Veloce

    2Veloce Formula Junior

    Aug 8, 2014
    566
    annapolis, maryland
    Full Name:
    Al
    Do we (USA) pay a VAT on car parts imported from Europe ( London)? If so how much?.Thinking about buying some factory parts from a person in London (new factory parts) If so i need to factor that in my pricing...thanks
     
  2. MalibuGuy

    MalibuGuy F1 Veteran

    Sep 18, 2007
    5,890
    The seller should not charge you a VAT. You may be charged Duty taxes.
     
  3. Red Sled

    Red Sled Formula Junior

    In the UK the seller will likely charge you VAT (currently 20%) if you are buying in person. You will need to get them to give you a tax invoice which you can claim a refund against at the airport (or the shipping agent will need to do that if you are shipping it separately). If you are thinking of using Eurospares/Maranello Classic Parts in the UK, they will be familiar with the process.
     
  4. 2Veloce

    2Veloce Formula Junior

    Aug 8, 2014
    566
    annapolis, maryland
    Full Name:
    Al
    I was going to use Chris with Scuderia car parts. I would be doing it mail order. How can i find out if there will be any taxes like a "Duty tax."..thanks
     
  5. Red Sled

    Red Sled Formula Junior

    Understood. In that case, there should be no duties or VAT to be paid on the UK side. I guess you will need to look at US customs website for import duties.
     
  6. Flavio_C

    Flavio_C Formula 3
    BANNED

    Sep 7, 2012
    2,445
    Insubria
    If you import by mail/Fedex/etc you won't be charged VAT but you will pay a small import duty when it arrives in the USA.
     
  7. 2Veloce

    2Veloce Formula Junior

    Aug 8, 2014
    566
    annapolis, maryland
    Full Name:
    Al
    thanks all. Just heard back from Chris @ Scuderia systems said about 4-5%
     
  8. zakeen

    zakeen Formula Junior

    Aug 29, 2004
    989
    Czech Republic
    Just to inform everyone in case. A lot of companies don't take VAT off when they should when online orders are sent out of EU. Some eshops don't do it automatically. In this case you have to ask to make sure. Check the price of the items after you select your country. If VAT is still listed then just ask the seller and he will do it manually.
     
  9. Solid State

    Solid State F1 World Champ
    Owner Rossa Subscribed

    Feb 4, 2014
    10,577
    Full Name:
    Maximus Decimus Meridius
    The VAT has always turned me off when ordering overseas. Never understood it and seems to be a source of useless gouging. Mail order/Internet sites should be a lot clearer on this. Also, what is the 4-5% quote? Is that an estimate of what you will pay on the US side for import duty or are they reducing the 20% to a lower rate and you still have to pay import duties. Sorry for the query but since you are going through it I thought it would be a good time to ask.
     
  10. greyboxer

    greyboxer F1 World Champ

    Dec 8, 2004
    12,665
    South East
    Full Name:
    Jimmie
    Think of it like sales tax: if it is delivered in state you pay local vat - if it is delivered out of state you pay their taxes - for international work that will likely include import duty
     
  11. zakeen

    zakeen Formula Junior

    Aug 29, 2004
    989
    Czech Republic
    No, you dont pay double tax ANYWHERE. You must ask and inform them that the order is sent outside of EU and the vat will be deducted. Then you pay your import duties to the country you are importing it to.

    I do this all the time, I live in EU, UAE and Australia. So sometimes I like to order expensive things from EU, have the Vat deducted and then pay the duties in Australia. If the item is small, most times you dont pay import duties.

    Other things you can do, which I did when I was in Australia last was bought a laptop, leaving the country with the item and invoice I can calm the tax back at the airport, GST(good sale tax, same as VAT) then I get the 10% back showing the item and invoice. But technically when I enter the country again, I should pay it, but that never happens.

    "The European Union value added tax (or EU VAT) is a value added tax on goods and services within the European Union (EU). " So any orders outside of EU VAT is not included and should be deducted.

    https://en.wikipedia.org/wiki/European_Union_value_added_tax
     
  12. Melvok

    Melvok F1 World Champ
    Owner Silver Subscribed

    Jul 25, 2008
    14,261
    Amersfoort, The Netherlands, Europe.
    Full Name:
    Mel
    Correct !
     
  13. Solid State

    Solid State F1 World Champ
    Owner Rossa Subscribed

    Feb 4, 2014
    10,577
    Full Name:
    Maximus Decimus Meridius
    Thanks for the explanation. Condolences to those that have to pay it.
     
  14. zakeen

    zakeen Formula Junior

    Aug 29, 2004
    989
    Czech Republic
    Imagine buying a 300,000euro Car and then paying 60,000 euro more in VAT......

    But there are ways around it......
     
  15. greyboxer

    greyboxer F1 World Champ

    Dec 8, 2004
    12,665
    South East
    Full Name:
    Jimmie
    Maybe in southern and eastern europe which is why the EU is falling apart.....
     
  16. MalibuGuy

    MalibuGuy F1 Veteran

    Sep 18, 2007
    5,890
    Wow this thread has taken on a life of its own!

    Can we ask ask the part and the price?

    Is this a new engine or some hundred dollar part which has now gone beyond its value of debate ?

    We've already told you what a VAT and duty is!

    What don't you understand?
     

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