Knowing about europa vat can save money in your business

If you want to import goods and services into your own country that follows vat or value added tax system then being aware of europa vat can save money in your business.

Http://vatverification.com

You will be able to accurately calculate the cost of your imported products while also have the ability to charge the correct vat rate when you sell them in local markets.

Most countries in the EU have shifted over to vat which has helped achieve uniformity in cross-country imports and exports. It’s also allowed businesses to go in for vat refunds on imports where vat has already been paid in the original country of export. In case you too plan to import goods where vat was already paid then you definitely can also 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 start issuing vat invoices to your clients, you will need to make an application for vat registration in your own country. For instance, in the United Kingdom you will get vat registered when your taxable sale in the last Twelve months touches £70,000, which is known as the vat threshold. You will have to contact the hmrc vat department and can even use their vat online services to fill up the vat form to get vat registration. Once your business has the necessary registration you’ll be able to charge vat rates as prescribed by the department through 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 others. Although customs duties, excise duties and import vat might differ in each eu country, the essential principle of taxes continues to be same. All vat friendly countries have a very standard vat rate that 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 so might the text in each vat invoice but the formula for calculating vat remains the same in all these countries.

Since customs, excise and vat rules might be a bit complicated to decipher, you should enroll the expertise of a professional vat and import agent so your products or services are placed 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 getting vat refunds in the country of origin in order to return the doubly-charged tax amount back into your coffers.

In case you want to handle 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 several websites that allow you to input the nation code along with the vat number before informing you if your vat number remains valid. This move can help you save lots of hassle and funds while also protecting you from unscrupulous businesses and individuals.

Conducting business with vat friendly eu countries will ensure that your paperwork proceeds in a seamless manner thanks to the common platform of vat. If you’re going to begin an enterprise in any EU country that has embraced vat then you should first check the europa vat list before you begin importing products or services from such countries.