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Knowing about europa vat can help to save money in your business


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If you wish to import goods and services to your own country that follows vat or value added tax system then being aware of europa vat will save money for your business http://www.vatcheck.com. You will be able to accurately calculate the cost of your imported products whilst have the ability to charge the appropriate vat rate whenever you sell them in local markets.

Most countries within the EU have shifted over to vat which helps achieve uniformity in cross-country imports and exports. It has also allowed businesses to go in for vat refunds on imports where vat was already paid in the original country of export. In case you too intend to import goods where vat has already been paid then you too can apply for vat reclaim in the country of origin with supporting documents that show the local sales along with the vat rates.

However, before you begin issuing vat invoices to your clients, you will have to apply for vat registration in your own country. For instance, in the United Kingdom you will get vat registered once your taxable sale in the last Twelve months touches £70,000, which is known as the vat threshold. You will need to contact the hmrc vat department and may use their vat online services to fill up the vat form to get vat registration. Once your business gets the necessary registration then you can charge vat rates as prescribed by the department by way of a vat invoice that mentions your unique vat number.

You may import services and goods from many europa vat countries including Sweden, UK, France, Germany, Greece, Spain, Italy, Poland, and many more. Although customs duties, excise duties and import vat might differ in each eu country, the basic principle of taxes continues to be same. All vat friendly countries have a very standard vat rate which is between 15-25%, a special low vat rate between 1-6% and vat exempt items or services where no vat is charged. The rates might differ and so might the text in each vat invoice but the formula for calculating vat continues to be same in all these countries.

Since customs, excise and vat rules might be a bit complicated to decipher, you should enroll the services of an expert vat and import agent so your products or services are put within the appropriate classification as deemed fit by relevant tax authorities. Your agent should also be able to assist you in filing regular vat returns and applying for vat refunds in the country of origin so as to return the doubly-charged tax amount back into your coffers.

In case you want to deal with other business in other europa countries that follow vat then you can also cross-check the validity of their vat numbers by utilizing the internet. There are many websites that permit you to input the nation code and the vat number before informing you if your vat number remains valid. This move can save you lots of hassle and money whilst keeping you safe from unscrupulous businesses and individuals.

Conducting business with vat friendly eu countries will guarantee that your paperwork proceeds in a seamless manner due to the common platform of vat. If you plan to start an enterprise in a EU country which has embraced vat then you definitely should first check the europa vat list before you start importing products or services from such countries.