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Knowing the particular list of eu countries that follow vat can help cut costs


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Starting an organization that needs to import goods or services to the UK can be tough during these competitive times but knowing the range of eu countries which observe vat can help reduce costs. You will easily be able to track tax systems that are similar to your own while claiming vat refunds for previously paid vat abroad.

There are several countries from the eu that also adhere to the system of value-added tax. Although the language used in the vat invoice might differ in addition to vat rates, the system followed is almost exactly the same. The list of countries http://checkvatnumber.com in the European Union that have adopted the system of vat are Estonia, Denmark, Bulgaria, Ireland, Latvia, Poland, Spain, Italy, Luxembourg, Belgium, Hungary, Slovak Republic, Czech Republic, Portugal, Sweden, Finland, Slovenia, Austria, Netherlands, Greece, Germany, France, Romania, Malta, Lithuania, and Cyprus. Some territories in this list of eu countries have however opted to remain out of the vat gambit. You can visit the hmrc vat or hm revenue and customs website to find out about such territories.

One major advantage you have when importing goods from such eu countries is any vat that you might have paid in a particular country can be refunded to you by that country once you apply for a vat reclaim. This process can be handled by a professional vat agent who has offices in the United Kingdom along with other countries from where your imports take place. In addition, should you have attended trade events inside a eu country and have paid vat for the very same then such vat amounts can also be recovered back. This vat refund can surely help shore increase business bottom line while suitably cutting your product costs.

If you hire an expert vat, customs duties, and excise duties agent then that agent will also help calculate sales vat rates and also file your vat returns within the stipulated time frame. Vat rates in the UK range from 17.5% for standard vat rates to 5% for reduced vat rates to zero vat rates for specific products and services. There’s also specific products and services which are vat exempt. The hmrc website offers the detailed set of such services and products that are put into 14,000 classifications.

To be able to claim a vat refund you will have to preserve and submit all original vat documents together with your vat certificate too. While procedures and language in several countries might pose a problem, a vat agent amply trained in various vat systems must be able to recover your hard earned cash back to your bank account. There are also different deadlines in different eu countries for submitting a vat reclaim and therefore having an in-depth knowledge of eu vat and uk vat rules will definitely offer a distinct benefit to both you and your business.

If you wish to import goods or services into the UK then choosing eu countries that follow vat would offer several distinct advantages. Knowing the list of eu countries that follow vat can certainly help save money and also offer simplicity of operation as the system for paying and collecting vat will be the same in all these countries.