!! IMPORTANT NOTICE to OUR EU and UK FRIENDS !!

FOR EU BUYERS:-  You are probably thinking that you will be paying 17 to 25% Import VAT

(dependent on EU member state) on coins (Numismatic/Collector's items Commodity Code (CN code or HS code) 9705 00 00) imported from the UK.

This is NOT TRUE

 READ ON - IT IS A MUST!

  I have done quite a lot of looking/digging into this. Here are the rates of import duty on Numismatic items - List of a few import VAT rates applied in the Member States (in %)

Belgium 6%, Germany 7% (Confirmed by German Tax Adviser), Ireland 13.5%, Spain 10%, France 5.5%,  Italy 10%, Luxembourg 8%, Netherlands 9%,

Austria 13%, Poland 8%, Portugal 6%, Sweden 12% (Some territories may be different, such as The Island of Corsica for example).

 

Here is the link to the EU 's official information on these facts:-

https://ec.europa.eu/taxation_customs/sites/taxation/files/resources/documents/taxation/vat/how_vat_works/rates/vat_rates_en.pdf

 Then scroll down to your EU member state listing and check out Taxation of works of art, collector's items and antiques - Rate on importation.

Above is a sreenshot of France VAT percentages. You will see Collector's items, rate on importation is clearly 5.5%.

 

FOLLOWING IS PROOF OF THE REDUCED VAT RATES ON NUMISMATIC IMPORTS INTO THE EU

 

 

Now for Article 103 of the Directive 2006/112/EC which is

 

See in below Screenshots:-

 

 

 

Now for Article 98 and 99 of the Directive 2006/112/EC

 

 

Now for Article 311(1) of the Directive 2006/112/EC

 

 

You may have noticed Annex IX, Part B of the Directive 2006/112/EC - so I have screenshot that as well.

 

 

So in other words the special arrangments for Import VAT on numismatic items imported into EU member states are at a reduced rate VAT(R)!

In the UK we have BOR286 to reclaim overpaid Import VAT, but I do not know each member state of the EU policy/form, however you should be able to reclaim overpayments.

Please note that there will be other charges such as Import Duty and Handling Fees however to date we have not had Import Duty only Import VAT and Handling Fees.

If any of the above information is incorrect please advise, because I am not a tax expert. However if you are unsure please contact your tax adviser.

 

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FOR UK BUYERS:- NOW FOR IMPORTING INTO THE UK FROM THE EU

 

Please note numismatics are under the Commodity Code (CN code) 9705 00 00 for importing into the UK. This CN number is VATR (R = Reduced rate). In the UK it is at 5% import VAT reduced rate.

Here is the gov.uk link to prove that this is the case in the UK https://www.gov.uk/guidance/vat-imports-acquisitions-and-purchases-from-abroad#imported-goods-accounting-for-import-vat

See in below Screenshot:-

 

In the UK there are three rates - Normally VAT at 20%, Reduced at 5% and of course Zero-rated VAT,

so 5% VAT(R) import to UK it is.

If you have been charged 20% Import VAT on you Antique coins imported into the UK you can reclaim overpaid VAT using BOR286 form link below.

https://www.gov.uk/government/publications/vat-customs-dutyimport-vat-relating-to-imports-by-post-bor286

Please note that there will be other charges such as Import Duty and Handling Fees however to date we have not had Import Duty only Import VAT and Handling Fees.

If any of the above information is incorrect please advise, because I am not a tax expert. However if you are unsure please contact your tax adviser.