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Knowing the set of eu countries that follow vat can help save money


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Starting an organization that is going to import services or goods into the UK can be tough in these competitive times but knowing the number of eu countries which observe vat may help reduce costs. You may definitely be able to track tax systems which are a lot like your while claiming vat refunds for previously paid vat abroad.

There are many countries from the eu that also follow 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 virtually vatcheck.com exactly the same. The list of countries within 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 particular list of eu countries have however opted to stay out from the vat gambit. You can visit the hmrc vat or hm revenue and customs web site to find out 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 you by that country once you apply for a vat reclaim. This procedure can be handled by a professional vat agent that has offices in the United Kingdom as well as in other countries from which your imports take place. In addition, should you have attended trade shows inside a eu country and also have paid vat for the very same then such vat amounts can also be recovered back. This vat refund can surely help shore up your business bottom line while suitably cutting your product costs.

Should you hire a specialist 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 period. Vat rates in the UK range between 17.5% for standard vat rates to 5% for reduced vat rates to zero vat rates for specific products and services. There are also specific services and products which are vat exempt. The hmrc website offers a detailed list of such products and services which are put into 14,000 classifications.

In order 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 a problem, a vat agent amply trained in various vat systems should be able to recover your hard earned money back into your account. Additionally, there are different deadlines in different eu countries for filing for a vat reclaim and thus having an in-depth understanding of eu vat and uk vat rules will definitely offer a distinct advantage to you and your business.

If you want to import goods or services to the UK then opting for eu countries that follow vat would offer several distinct advantages. Having the listing of eu countries that follow vat will help save money as well as offer simplicity of operation as the system for paying and collecting vat would be the same in all these countries.