I just hope that the lack of tariffs on goods coming into Canada and other nations means we will finally see lower prices than Americans pay. If we do, just come up to Canada and buy from here.
"For Apple, Monday's list of tariff letters means it faces even more costs than it did before April's omnibus announcement for importing goods in the future." - why is that? The announced tariffs on Japan, Korea, Malaysia, and Khazakstan are tariffs the US will begin charging for goods coming into the US from those countries. As far as I know, Apple doesn't import goods - INTO THE US - from any of these countries. It is importing parts from them into China, Taiwan, and India - so these US tariffs are irrelevant, no? Far more important is what China, Taiwan, and India tariff goods from those countries at.
And where do you think most Apple screens come from? Samsung (South Korea) and Taiwan. Think before you speak or write.
Now here VAT is applied at a national level, currently 20% but some products are zero rated, most foodstuff, children's clothing, for example. So if a product is sold for, say £100 then the retailer is required to send £20 to the government as a sales tax. And this applies to everything, there is no exemption for ‘home made’ stuff, so yes, I’m struggling to see what issue the current US administration has about this!
Not quite right, the 20% isn't applied on the end price, it's on the pre-tax price, which the consumer hardly ever sees in countries outside the USA unless you check the detail of your receipts. If the product is sold for £100, then the pre-tax price would have been £83.33, and the 20% VAT would be £16.66, for a total, inc VAT of £100.
"For Apple, Monday's list of tariff letters means it faces even more costs than it did before April's omnibus announcement for importing goods in the future." - why is that? The announced tariffs on Japan, Korea, Malaysia, and Khazakstan are tariffs the US will begin charging for goods coming into the US from those countries. As far as I know, Apple doesn't import goods - INTO THE US - from any of these countries. It is importing parts from them into China, Taiwan, and India - so these US tariffs are irrelevant, no? Far more important is what China, Taiwan, and India tariff goods from those countries at.
And where do you think most Apple screens come from? Samsung (South Korea) and Taiwan. Think before you speak or write.
Apple almost certainly aren't paying any import duties on screen panels if they are assembled into laptops and phones. You don't pay import duties to an end destination on the source components of a significantly transformed product.
Yes indeed, VAT (or value added tax), is simply a sales tax, now I’m in the UK so probably don’t know all the details of how this works in the US, but i believe that individual States (maybe even counties) can set their own rates of sales tax, or even not have any if they so choose.
Now here VAT is applied at a national level, currently 20% but some products are zero rated, most foodstuff, children's clothing, for example. So if a product is sold for, say £100 then the retailer is required to send £20 to the government as a sales tax. And this applies to everything, there is no exemption for ‘home made’ stuff, so yes, I’m struggling to see what issue the current US administration has about this!
Of course it is temping to simply say that your current inhabitant of 1600 simply doesn’t understand how this all works and is simply ‘shooting off their mouth’? Please tell me that it isn’t that bad!
He doesn't know how this works, and is shooting off their mouth.
Those big financial companies said yesterday I think that they are basically not taking much notice of them because DJT doesn’t stick to them. He rolls back, “pauses” them, adjusts them or something else.
Those big financial companies said yesterday I think that they are basically not taking much notice of them because DJT doesn’t stick to them. He rolls back, “pauses” them, adjusts them or something else.
Now here VAT is applied at a national level, currently 20% but some products are zero rated, most foodstuff, children's clothing, for example. So if a product is sold for, say £100 then the retailer is required to send £20 to the government as a sales tax. And this applies to everything, there is no exemption for ‘home made’ stuff, so yes, I’m struggling to see what issue the current US administration has about this!
Not quite right, the 20% isn't applied on the end price, it's on the pre-tax price, which the consumer hardly ever sees in countries outside the USA unless you check the detail of your receipts. If the product is sold for £100, then the pre-tax price would have been £83.33, and the 20% VAT would be £16.66, for a total, inc VAT of £100.
You’re saying the same thing, except using the example of a product that’s sold for £83.33. That is the end price the product is sold for, as far as the vendor is concerned. It’s just not what the *customer* pays, because tax is added on top. But the vendor just passes that along, so it doesn’t figure into his sale.
Now here VAT is applied at a national level, currently 20% but some products are zero rated, most foodstuff, children's clothing, for example. So if a product is sold for, say £100 then the retailer is required to send £20 to the government as a sales tax. And this applies to everything, there is no exemption for ‘home made’ stuff, so yes, I’m struggling to see what issue the current US administration has about this!
Not quite right, the 20% isn't applied on the end price, it's on the pre-tax price, which the consumer hardly ever sees in countries outside the USA unless you check the detail of your receipts. If the product is sold for £100, then the pre-tax price would have been £83.33, and the 20% VAT would be £16.66, for a total, inc VAT of £100.
You’re saying the same thing, except using the example of a product that’s sold for £83.33. That is the end price the product is sold for, as far as the vendor is concerned. It’s just not what the *customer* pays, because tax is added on top. But the vendor just passes that along, so it doesn’t figure into his sale.
No, the OP was saying that a product sold for £100 would require the retailer to send £20 in VAT to the government. That is incorrect, and not the same as what I said, which is that a product sold for £100 would have an unstated pre-tax price of £83.33, and the VAT due would be £16.66.
Now here VAT is applied at a national level, currently 20% but some products are zero rated, most foodstuff, children's clothing, for example. So if a product is sold for, say £100 then the retailer is required to send £20 to the government as a sales tax. And this applies to everything, there is no exemption for ‘home made’ stuff, so yes, I’m struggling to see what issue the current US administration has about this!
Not quite right, the 20% isn't applied on the end price, it's on the pre-tax price, which the consumer hardly ever sees in countries outside the USA unless you check the detail of your receipts. If the product is sold for £100, then the pre-tax price would have been £83.33, and the 20% VAT would be £16.66, for a total, inc VAT of £100.
You’re saying the same thing, except using the example of a product that’s sold for £83.33. That is the end price the product is sold for, as far as the vendor is concerned. It’s just not what the *customer* pays, because tax is added on top. But the vendor just passes that along, so it doesn’t figure into his sale.
No, the OP was saying that a product sold for £100 would require the retailer to send £20 in VAT to the government. That is incorrect, and not the same as what I said, which is that a product sold for £100 would have an unstated pre-tax price of £83.33, and the VAT due would be £16.66.
Ah, of course, you're correct.
Being self-employed, I'm so used to thinking in net prices that I didn't even notice that his thinking was wrong. My train of thought was: For something that's sold for £100, of course the vendor is going to send £20 to the government, because that's the VAT that goes ON TOP of the sales price.
Except that's not how the poster meant it, and you are of course correct that VAT is not 20% OF the sales price, it's 20% ON TOP of the net sales price. Or about 16.7% of the total price, including tax.
Comments
https://www.trade.gov/rules-origin-substantial-transformation
Except that's not how the poster meant it, and you are of course correct that VAT is not 20% OF the sales price, it's 20% ON TOP of the net sales price. Or about 16.7% of the total price, including tax.