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Knowing the particular list of eu countries that follow vat might help save money


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

There are several countries in the eu that also adhere to the system of value-added tax. Even though the language used in the vat invoice might differ in addition to vat rates, the system followed is almost vatcheck exactly the same. This list of countries within the EU which 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 set of eu countries have however opted to stay out from the vat gambit. You can go to the hmrc vat or hm revenue and customs website to read about such territories.

One major advantage that you have when importing goods from such eu countries is any vat which you may have paid in the particular country can be refunded to your account by that country once you file for a vat reclaim. This procedure can be handled by a professional vat agent who has offices in the United Kingdom as well as in other countries from which your imports take place. In addition, if 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 lowering your product costs.

Should you hire an expert vat, customs duties, and excise duties agent then that agent can also help calculate sales vat rates and also file your vat returns in the stipulated time period. Vat rates in the United Kingdom range between 17.5% for standard vat rates to 5% for reduced vat rates to zero vat rates for specific services and products. There are also specific services and products which are vat exempt. The hmrc website provides the detailed list of such products and services which are split up into 14,000 classifications.

To be able to claim a vat refund you will need to preserve and submit all original vat documents together with your vat certificate too. While procedures and language in various countries might pose problems, a vat agent amply trained in various vat systems should be able to recover your hard earned money back to your account. Additionally, there are different time limits in different eu countries for filing for 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 services or goods into the UK then opting for eu countries that follow vat would offer several distinct advantages. Having the list of eu countries that follow vat will help save money and also offer simplicity of operation because the system for paying and collecting vat would be the same in most these countries.