The Irish Mail on Sunday

How can a €250 coat cost €347?

- By Bill Tyson

The Revenue issued a timely reminder to online shoppers to watch out for tax, duty and ‘fake goods’ issues when buying online.

Where the price of goods advertised online seems low, this may be because tax and duty has not been included – or they may even be counterfei­t.

Last year, Revenue seized counterfei­t goods worth almost €5.8m at the point of entry.

‘Imitation brand clothing, runners, handbags and mobile devices are among the counterfei­t goods most commonly seized by Revenue. Some of these goods are not subject to regulation in the country where they are made and are often of a poor quality, which fails to conform with accepted safety standards,’ said Ms Maureen Dalton, head of Revenue’s southeast frontier management branch (referring to non-EU imports). Customs duties and import VAT charges do not apply when ordering goods from Ireland or other EU countries online, however, almost all goods arriving from non-EU countries will be liable to import tax and duties.

Also remember that parcel operators typically charge a separate administra­tion fee. Where the price advertised is not inclusive of these costs, additional charges may apply once the goods arrive in Ireland.

‘All goods will be liable to VAT, whilst goods with a customs value of more than €150 will be liable to both customs duty and VAT. This means, for example, that an item of clothing bought online from the US or UK, at an equivalent cost of €250, could cost in the region of €97 extra for customs duty, VAT, insurance, and handling fees,’ Ms Dalton added.

Before deciding to buy goods online, check whether the advertised price includes any taxes, duties or administra­tive fees – or you may face unexpected charges on delivery.

A ‘.ie’ domain name does not mean the seller is based in Ireland. Shoppers can check where a business is based by reading through the ‘About’, ‘Contact us’ and ‘Terms and Conditions’ sections of its website,’ Revenue advises.

A key message from our main story, above, is that Dutch bank Bunq is beating all the Irish institutio­ns with its new 2.46% on-demand rate.

But there’s plenty of scope to turbo-boost your deposit interest even more by salting money away for even a fairly short time.

We could get an

 ?? ?? wise up: Avoid those online traps
wise up: Avoid those online traps

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