Swedish ASIC miner company kncminer.com

[CYPER]

Glad one part of my two answers got some good debate going.

The laundering was a throw in to first point of buying miners with credit cards since bitcoins via cc's is pretty much null.

also, with 0% intro's and 1% cash back I already have ~$150 ROI on my two Saturns>Jupiters upgrades  

USA based?

yup

Just curious - I assume you pay VAT. What about any other import duties or taxes?
Basically for a $6999 Jupiter how much will the final costs be including delivery and all taxes + VAT?

They don't have VAT in the U.S.

They do have a sales tax in most States, although it's not consistent.

That generally bounces between 5% and 10%.

There maybe an import duty of some kind?

According to this, I guess if it's classed as computer hardware, it's duty free, with a $25 merchandising fee;

http://www.dutycalculator.com/new-import-duty-and-tax-calculation/

So US residents basically get it for a around 7015USD and us in Europe have to pay 20% VAT on top on average.

What if the miner was billed including VAT - do US residents claim that back somehow or don't pay it at all?

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[DPoS]

mine shown $50 for merchandize fee and no duty fees  (I listed them as servers)

paid to customs.. not sure how

and this is for two saturns upgraded to jupiters

[-Redacted-]

US doesn't pay VAT - not charged initially if being shipped to the US.

(Yet.  Shhh.  Don't give the government any ideas...)

[DPoS]

So US residents basically get it for a around 7015USD and us in Europe have to pay 20% VAT on top on average.

What if the miner was billed including VAT - do US residents claim that back somehow or don't pay it at all?

But think of all the VALUE added to your nations from that tax!  

also, we in the USA are SUPPOSE to pay sales tax for most everything. (except a few states, which advertise that heavily for holiday buyers)  
We do when we buy in state at the counter, but when we buy across sate lines that is on a trust system..  we are suppose to add that to our taxes each year...  

[FUKT]

LOL, Australian duty is a pain, I hope it gets through without GST:


Total customs value (FOB):   AU$24510.52   
This is the amount that customs values your import at
- Duty:   AU$0.00
- Customs Service Fee:   AU$55.20
- GST:   AU$2488.93
Total import duty & taxes due:   AU$2544.13   
This is the amount that needs to be paid to customs
Total landed cost:   AU$27433.45   
This is the total cost of importing, including product, shipping, insurance and import duty & taxes
at USD/AUD exchange rate of 1.1141

[plasmoske]

Oh there'll definitely be GST

Damn that's gonna sting. Well at least mine only needs about 730$ payment to customs.

[ASIC-K]

Oh there'll definitely be GST

Damn that's gonna sting. Well at least mine only needs about 730$ payment to customs.

hst? shit.

[FUKT]

Oh there'll definitely be GST

Damn that's gonna sting. Well at least mine only needs about 730$ payment to customs.

You can get lucky sometimes and it passes through without GST.

[DobZombie]

I've never paid GST on imported items

EVER (yay for eBay and overwhelming customs with parcels)

[AussieHash]

LOL, Australian duty is a pain, I hope it gets through without GST:


Total customs value (FOB):   AU$24510.52   
This is the amount that customs values your import at
- Duty:   AU$0.00
- Customs Service Fee:   AU$55.20
- GST:   AU$2488.93
Total import duty & taxes due:   AU$2544.13   
This is the amount that needs to be paid to customs
Total landed cost:   AU$27433.45   
This is the total cost of importing, including product, shipping, insurance and import duty & taxes
at USD/AUD exchange rate of 1.1141

I read this thread on whirlpool and went for hosting ! I was worried about the potential for delivery being held up at customs.
http://forums.whirlpool.net.au/forum-replies.cfm?t=2132715

I'm not sure exactly how the tax is calculated but I got a surprise a couple of weeks ago, items totalling $1584 (including shipping) were taxed at 23%, I was expecting to pay 15%. I think there are 'customs processing fees' and some other crap tacked on there to milk a few extra bucks out of me. Now I don't feel so bad for receiving so many deliveries in the past where the retailer has written-down the invoice...

One thing to remember is as soon as the value of the goods exceeds $1000, the tax is applied to goods *and* shipping.

[kano]

Certainly never paid anything on what I've received under $1000

However, my BAS that I paid for was (as expected) marked at the full price by BFL ... and unexpectedly, no customs charges.

So I guess sometimes it can get through unscathed.

[FUKT]

LOL, Australian duty is a pain, I hope it gets through without GST:


Total customs value (FOB):   AU$24510.52   
This is the amount that customs values your import at
- Duty:   AU$0.00
- Customs Service Fee:   AU$55.20
- GST:   AU$2488.93
Total import duty & taxes due:   AU$2544.13   
This is the amount that needs to be paid to customs
Total landed cost:   AU$27433.45   
This is the total cost of importing, including product, shipping, insurance and import duty & taxes
at USD/AUD exchange rate of 1.1141

I read this thread on whirlpool and went for hosting ! I was worried about the potential for delivery being held up at customs.
http://forums.whirlpool.net.au/forum-replies.cfm?t=2132715

I'm not sure exactly how the tax is calculated but I got a surprise a couple of weeks ago, items totalling $1584 (including shipping) were taxed at 23%, I was expecting to pay 15%. I think there are 'customs processing fees' and some other crap tacked on there to milk a few extra bucks out of me. Now I don't feel so bad for receiving so many deliveries in the past where the retailer has written-down the invoice...

One thing to remember is as soon as the value of the goods exceeds $1000, the tax is applied to goods *and* shipping.

Bloody hell 23%, thats a kick in the nuts. I was organising local pickup then realised I couldnt insure the goods as customs will know the value. I'm hoping for 10% at most, will let the dice roll and see what happens.

[FUKT]

Certainly never paid anything on what I've received under $1000

However, my BAS that I paid for was (as expected) marked at the full price by BFL ... and unexpectedly, no customs charges.

So I guess sometimes it can get through unscathed.

I assume  BFL are not declaring the value on goods, KNC have stated that they will be legit and mark goods in the value of USD at time of purchase, which could be a pain if the Aussie dollar drops even further.

EDIT didnt see your BAS was marked by BFL, are you registered as a business and running btc?

[trinsic]

LOL, Australian duty is a pain, I hope it gets through without GST:


Total customs value (FOB):   AU$24510.52   
This is the amount that customs values your import at
- Duty:   AU$0.00
- Customs Service Fee:   AU$55.20
- GST:   AU$2488.93
Total import duty & taxes due:   AU$2544.13   
This is the amount that needs to be paid to customs
Total landed cost:   AU$27433.45   
This is the total cost of importing, including product, shipping, insurance and import duty & taxes
at USD/AUD exchange rate of 1.1141

Here in lovely NZ it'd cost $1800NZD in GST/Customs for a single Jupiter.

[FUKT]

LOL, Australian duty is a pain, I hope it gets through without GST:


Total customs value (FOB):   AU$24510.52   
This is the amount that customs values your import at
- Duty:   AU$0.00
- Customs Service Fee:   AU$55.20
- GST:   AU$2488.93
Total import duty & taxes due:   AU$2544.13   
This is the amount that needs to be paid to customs
Total landed cost:   AU$27433.45   
This is the total cost of importing, including product, shipping, insurance and import duty & taxes
at USD/AUD exchange rate of 1.1141

Here in lovely NZ it'd cost $1800NZD in GST/Customs for a single Jupiter.

Youre fucking kidding! Thats almost like mafia protection rates!

[CYPER]

LOL, Australian duty is a pain, I hope it gets through without GST:


Total customs value (FOB):   AU$24510.52   
This is the amount that customs values your import at
- Duty:   AU$0.00
- Customs Service Fee:   AU$55.20
- GST:   AU$2488.93
Total import duty & taxes due:   AU$2544.13   
This is the amount that needs to be paid to customs
Total landed cost:   AU$27433.45   
This is the total cost of importing, including product, shipping, insurance and import duty & taxes
at USD/AUD exchange rate of 1.1141

Here in lovely NZ it'd cost $1800NZD in GST/Customs for a single Jupiter.

Youre fucking kidding! Thats almost like mafia protection rates!

At least the miner won't go though customs here in the EU - it's like domestic shipment, so it should arrive very quick.

[fsb4000]

LOL, Australian duty is a pain, I hope it gets through without GST:


Total customs value (FOB):   AU$24510.52   
This is the amount that customs values your import at
- Duty:   AU$0.00
- Customs Service Fee:   AU$55.20
- GST:   AU$2488.93
Total import duty & taxes due:   AU$2544.13   
This is the amount that needs to be paid to customs
Total landed cost:   AU$27433.45   
This is the total cost of importing, including product, shipping, insurance and import duty & taxes
at USD/AUD exchange rate of 1.1141

Here in lovely NZ it'd cost $1800NZD in GST/Customs for a single Jupiter.

in Russia, customs duties are 30% 

[HeRetiK]

At least the miner won't go though customs here in the EU - it's like domestic shipment, so it should arrive very quick.

That's why I so very much hope that KnCMiner will succeed and also offer competitive products in the future. Looking at the problems I've been having with customs in the past (1-3 weeks delay) ordering a miner outside of the EU becomes a risk factor by itself.

[Ytterbium]

Perhaps a better example is in order.

Imagine you are a meth dealer from new mexico. You have $250,000 cash. You use that cash to buy mining equipment, which earns you $250,000 worth of bitcoins.

Can you now go to a car dealership and buy a new ford mustang? Can you buy a house? No, because now instead of being a meth dealer with $250,000 cash, you are a meth dealer with $250,000 of bitcoins. I don't see any problems solved here, except for the fact that the bitcoins are a lot harder to take away.

Oh and I don't think the police would bother with IP addresses and the like, they will just catch you selling meth, see that you had no legal source of money to buy the mining equipment, and take that, and anything you would have bought with the bitcoins.

Uh right. You could just buy bitcoins directly with the $250k from localcoin places, or whatever.

But, lets say you have 2.5k bitcoins you got from selling meth on silkroad. Some of those buyers might have been feds.  So what happens if you spend the btc in an identifiable way?  Then the feds can trace the transactions through the blockchain.

Or suppose you're the guy who hacked mybitcoin or pulled off some of the other major heists in bitcoin history?

Instead of just loading the btc into MtGox - you buy miners from China or somewhere, generate 'clean' coins with no 'history'.

Probably not really worth doing, but paranoid people might want to do it.

[gateway]

7 more days till Sept...