Do I Need a VAT Number if I am in the USA buying Wholesale from Foreign countries?
The title says it all. I stumbled upon some foreign wholelsellers and when creating a wholesale account, I'm asked for a vat number.
- 3 months ago
They may require you pay VAT for the goods when purchased from them, yes. Part of doing business.
- StephenWeinsteinLv 73 months ago
The U.S. doesn't have VAT, but most other countries do, so it depends on the laws of the foreign country.
Either way, I don't think you've thought this through. You shouldn't be buying from foreign wholesalers that you "stumbled upon". You need to really know what you're doing to buy from foreign wholesalers.
1. It's very easy for them to rip you off. Because they are in a foreign country, you can't easily sue them. So you have to research them thoroughly and make sure they are trustworthy. If you just stumble upon a website and place an order, you'll be lucky if you just lose your money -- it's not unusual to end up with identify stolen or with the government investigating you, fining you a lot of money, and possibly threatening you with jail or prison.
2. You'll have to pay custom duties, tariffs, etc. These aren't always disclosed in advance, and they can't always been known when you place an order, because the government can impose them after you order something. Sometimes, you get the item and thing everything is fine and then you get billed later. You can easily lose a lot of money without even knowing it.