Hello,
I am about to place my first bulk order from Bitmain. I have a question regarding custom/tax. I hope a few Canadians here have some experiences to share.
As a commercial importer, you may have to work thru a customs broker to get all the paperwork just right. They (or your accountant) should be able to answer these questions.I do have a business number with the CRA. I do have an Incorporation Number from the Province of BC.
.. but do you have a BC PST Registration #? If not, see: Goods for Resale FIN490 https://www2.gov.bc.ca/assets/gov/taxes/sales-taxes/publications/pst-208-goods-for-resale.pdfI have been ordering retail from Bitmain, all I have to pay is the 12% custom directly to UPS and I'm good to go.
is the 12% the combined 5% GST + 7% BC PST? or something else?What about bulk order, is there a different process of receiving these 200 S9 miners, or do I just pay 12% and I'm good to go receiving them? Will there be additional paperwork from UPS to receive these bulk shipment?
You shouldn't pay BC PST on S9's that will be resold. The end-user pays the PST (which you then remit).
You don't collect PST from buyers that give you their PST # (they're reselling them to friends, or marking them up some more for resale).
I will be reselling these S9 just to Canadians for now, to make things simple. We won't be taking BTC, strictly USD through Visa/MasterCard/Amex or Interact Online or Interact E-Transfer. As we pay Bitmain with USD. This way, there will be no surprises with the volatility of the BTC.
Thank you for your inputs in regards to receiving bulk orders from Bitmain in Canada.
