Import duty on large LCD screens in EU
10 January 2006
The European Union plans to add a 14% import duty onto imported LCD monitors. This action will lead to a huge hike in prices. It applies to any screen over 19" in size and applies to monitors that are not produced in the EU, which is the majority of monitors imported. Philips, for example, manufactures most of its LCD monitors in the Far..
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B******ds ... in some EU countries they are already charing up to 21% in VAT on the purchace of such items (in the UK it is 17.5% VAT) so not only will import duties hike the prices by 14% but the consumer cost will be increased by a further VAT cost on that tax (in other words the effective rise in the UK will be 16.5% on retail costs) ... talk about a double whammy.
Anyone wanting a large LCD display needs to buy it now!