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[yak] Currency was Rolling Mill Alternative]


#1

Kong, Canadian) is “worth” on any given day? This is a fact of life
in a highly unstable global economic environment. Why should Canada
be immune from this? Please correct me if I am wrong on this.

Hi David,

I agree mostly but there are always problems when importing. I
import the odd item from Rio and Gesswien etc and our Govt. here
in the UK charge Import duty which is probably quite a justified
tax and is a variable amount which depends on the category the item
fall into. I’m sure that you have a similar system in the 'States.
What bugs me is not the exchange rate but the further taxes
imposed. After Import tax which is charged on the cost of the goods
plus the carriage, our govt. in the guise of Customs and Excise,
tax the goods again to the tune of 17.5% for VAT (Value Added Tax)
yet I can’t see what value has been added! :slight_smile: I buy raw materials
and pay VAT and I charge my customer VAT and quite rightly, as I
have added value. What I was most surprised by was that after
paying import duty I find that the VAT is based on the cost of
goods, carriage, any handling charges AND the import tax! So, now
I’m paying tax on a tax!!! Even the Customs and Excise people
admit that this is a bit of a cheap trick. :slight_smile:

I say all that with tongue in cheek as I fully accept what I have
to live with as do all those others you mention, including
Canadians I expect. I guess that every now and then we all like to
complain about our respective raw deals. :wink:

Actually, while we’re on the subject… Did you know that I pay
five dollars 42 cents for a gallon of gas! Everything is so
expensive here… I pay… etc. [big grin]

Regards,

Kerry
Kerry McCandlish Jewellery - Celtic and Scottish styles
Commission/Custom Work undertaken… Tel: +44 1870-602-677
Katunayake, Creagorry, Isle of Benbecula, HS7 5PG SCOTLAND
Fax: +44 1870-602-956 Mobile: +44 850-059-162