Change
in SCOPE Conditions of Auction
Following a written clarification of SCOPE's VAT status received today
from the Irish tax authorities, SCOPE Auction is pleased to announce
a simplification and
lowering of the commission that will be charged to horse buyers.
The
new language in the revised SCOPE Conditions of Auction is:
"The
sales price to be paid by the buyer is calculated as follows: knock-down
price + 5% of the knock-down price in buyer's commission = sales
price. If
applicable, VAT of 4.3% will be added to the sales price. "
VAT
will not be charged to buyers outside of the European Union or to
EU residents outside of Ireland who provide their bona fide VAT
number to SCOPE. Irish
residents will be charged VAT but those registered for VAT may be
able to reclaim the VAT paid to SCOPE.
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