UK Customers VAT deduction - Error in website calculations leading to overcharging.
As has been discussed here ad infinitum, UK customers no longer pay VAT at source on most EU purchases, the retailer should remove the VAT from the purchase price. In Germany the local VAT returned to 19% on the same day that the UK left the EU - 1 Jan 21. However I notice that only 16% is being removed at checkout - just tested.
Why? Have all UK purchases during the last month been affected by this error. If so, it would appear these buyers may be due a 3% refund. Would appreciate a response from Fanatec staff on this.
Comments
Example - DD2 -
Web price €1,499.95
UK price at checkout - €1,260.46
I'll let you do the maths...
I do not know how math works in the UK, but
1,499.95 / 1.19 = 1,260.46
I'll let you redo your maths.....
prices were never changed during the reduction of VAT here in germany, which actually resulted in a higher overall price for people in germany.
And I also get the same result as Tobias does^^
Like others said your Math is wrong you are calculating discount not VAT that will be removed. The 19% is based on price without VAT. It’s not based on total price and then remove x percent.
With 16% VAT price without VAT would have been 1499 / 1.16 = 1292 EUR.
To be more complete
1260 EUR without vat
VAT is 19% of 1260 = 239 EUR
Total 1260 + 239 = 1499
Yup, I can't count!
Did you also take into account the exchange rate?
Remember the exchange rate could be different for one bank compared to another.
So it's not just a simple takeaway off VAT.
So funny I hear all these people who wanted to leave EU now complaining about cost going up & they can't go over on buy drinks & cigarette cheap & make profit.
Now you have your broader control & high cost for the rest off your life 😂😂😂😂
Nothing to do with currency conversion as my calculations were all done in one currency. I made the schoolboy error of calculating the percentage based on the gross amount rather than the net amount. I may have been drunk!
😂