Taxes and Online Shopping

Online shopping can get you really great bargains for virtually anything you wish to purchase. For this reason, it continues to become an extremely popular way of shopping not just in Europe and America, but also in several parts of the globe. However, some websites may not be clear enough about their prices. Hence, it is important for people to check for underlying charges when shopping on the Web.

There are websites that do not reveal all charges that a customer will need to pay. On top of the price posted on the site, a shopper may also have to pay Customs duty, Excise duty, and import VAT (if it is applicable). Other shops may claim that they undervalue the goods you buy so you do not pay any Customs charges. What you may not be aware of is that since you are the importer it is the law that you will be responsible for declaring the information with Customs as well as for any charges that the product you bought may be due. Failure to do so or dishonesty may only hold the shopper liable to penalties or worse, to prosecution. On top of that, the goods that you bought will most likely be seized as well.

However, for people who buy merchandise on the Web from within the European Union, they will not be charged Customs duty or import VAT. If you buy products from a country outside the European Union, you will be charged Customs duty if the amount of duty is ten pounds and above. You will be charged import VAT if the value of the merchandise is 22 pounds and over. Similarly, you will be charged Excise duty for alcohol and tobacco products.

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