Taxes and tariffs, country by country
MrEureka
Posts: 24,419 ✭✭✭✭✭
Tell us where you live and the taxes and tariffs associated with coin sales and purchases. Also any comments on the effects on the market, the way business gets done, and the health of the hobby. And please let’s not talk about the ongoing story in the US. Too soon to say what the deal will be, much less what will follow.
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
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Comments
I'm based in Ireland. Any coins bought from outside the EU get a near 30% charge which is comprised of import tax, vat and post office admin fee.
This charge was in place well before Trump's tariffs although early on many coins slipped through the net. Lately it seems that every coin gets caught.
There's a similar charge on music instruments purchased from outside the EU.
I don't know what happens in customs but coins and instruments can be held up to two months it seems.
Once I purchased a coin from the UK (non-EU) and the coin took so long to arrive that the seller refunded me then I had to pay for the coin a second time when it arrived.
So for the last year or two I've been buying coins located within the EU only.
I did purchase a cheap coin from America recently to test the waters but they slapped on the charge.
Peace
I'm in Australia. All coins except for "investment grade bullion" (finer than .996 for gold and.995 for silver) are charged with a goods and services tax, a federal tax of 10% with is added to the listed cost. So, you see a coin for sale in Australia for $99.00, that's a $90 coin with a $9 GST added to the pricetag. Overseas buyers are also supposed to be charged GST, unless the overseas buyer has obtained an exemption from the Australian government.
Businesses can claim back any GST they pay for goods they on-sell to customers. To this end, they need to fill out a quarterly Business Activity Statement (BAS) for the Tax Office. BAS paperwork is a major regular headache for all small business owners in this country.
For importing, coins under $1000 do not attract any taxes or import duties. Coins over $1000 must be declared and 10% GST paid. If the coins or notes are legal tender and the face value is above AU$10,000, this also must be declared. Again, bullion coins (as defined above) are exempt from all such taxes.
Roman emperor Marcus Aurelius, "Meditations"
Apparently I have been awarded the DPOTD twice.
Anyone have any info how much I will have to pay more (Canadian buying from the USA)? Current taxes are 15% (any coin worth 100$ Canadian or more) or with FeDex it depends on the Province one lives in.
That's up to your government, not the US. Is Canada imposing additional reciprocal import taxes on coins shipped into Canada from the US?
I am not sure.
Latin American Collection
Currently no tax on coins or bullion in WA State, but I believe they are trying to remove the exemptions this legislative session. If anyone has further info, let us know.
This is the latest tariff for China (152%) from sb.
Update from sb for lots with tariffs
For lots with a tariff (marked with "t" in the lot description), we have emailed you separately regarding arrangements. Tariff fees must be paid directly to US Customs by the client before delivery.
I did not get any tariff lot from sb this time.