Winsor Crosby wrote:
Date: Sun, 19 May 2002 14:02:31 -0700
From: Winsor Crosby <wincros@xxxxxxxxxxxxx>
Subject: Re: [OM] Customs Documents
>
>
>With VAT of GBP31 and a 17.5% rate, you paid ~GBP177 ex-VAT for the lens
>and that likely includes the GBP6 for excise duty assuming excise duty
>is VATable. Thus GBP171 for the lens and with a GBP / US$ exchange rate
>of about 1.44 : 1 you paid about US$246 for the lens compared to US$229
>shown on Skip Williams' analysis of ebay prices.
>
>The customs bill of GBP50 is just your way of thanking Prime Minister
>Tony Baloney for running the affairs of state!
>
>jh
>
I thought VAT was value added tax. What value is added when someone=20
buys a new lens and uses up part of its lifetime and then sells it?
Winsor Crosby
Long Beach, California
>>Good point Winsor, however applying logic to VAT calculation is not
something our Customs & Excise are noted for.
Andy Gilbert
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