vat on used machinery

[tuneltek]

hi ,, i am setting up a deal to import a used piece of machinery from Dubai, the cost to me in Dubai is $850,000
the machine is used ... i know i have to pay import duty ...can i offset the VAT for a while or is it payable before i can release the machine from customs

[Eric Mc]

If VAT is added to the price of any goods - and your business is VAT registered - and the goods are use in your business - then you can reclaim the VAT.

[sgrimshaw]

Unless you have a deferment account, you will need to pay all duty and vat before the goods (machine) are released to you.

[N8CYL]

If I can help let me know www.dslglobalfreight.com

[tuneltek]

thanks for the answers...and thanks for the link,