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Knowing about europa vat can save money in your business


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If you want to import goods and services into your own country that follows vat or value added tax system then knowing about europa vat will save money in your business Http://vatcheck.com. You’ll be able to accurately calculate the buying price of your imported products whilst be able to charge the appropriate vat rate when you sell them in local markets.

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

However, before you begin issuing vat invoices to your clients, you will have to make an application for vat registration in your own country. For instance, in the UK you can get vat registered once your taxable sale in the last Twelve months touches £70,000, which is called 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 apply for 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 distinct vat number.

You can import goods and services from several 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 remains the same. All vat friendly countries have a standard vat rate that is between 15-25%, a particular 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 however the formula for calculating vat remains the same in all these countries.

Since customs, excise and vat rules can be a bit complicated to decipher, you need to enroll the services of an expert vat and import agent so that your goods and services are placed in the appropriate classification as deemed fit by relevant tax authorities. Your agent should also have the ability to assist you in filing regular vat returns and getting vat refunds in the nation of origin in order to return the doubly-charged tax amount back to your coffers.

In case you want to deal with other business in other europa countries that follow vat then you could also cross-check the validity of their vat numbers by using the internet. There are several websites that permit you to input the country code and the vat number before informing you if your vat number is still valid. This move can help you save lots of hassle and money 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 due to the common platform of vat. If you’re going to start a business in any EU country that has embraced vat then you definitely should first look into the europa vat list before you start importing services or products from such countries.