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Being aware of the particular set of eu countries that follow vat might help save money


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

There are several countries in the eu which follow the system of value-added tax. Although the language employed in the vat invoice might differ in addition to vat rates, the system followed is almost exactly the same. This list of countries http://checkvatnumber.com in the European Union 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 visit the hmrc vat or hm revenue and customs web site to read about such territories.

One major advantage you have when importing goods from such eu countries is that any vat that you might have paid in the particular country may be refunded to your account 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 UK as well as in other countries from which your imports take place. Moreover, should you have attended trade shows in a eu country and also have paid vat for the very same then such vat amounts may also be recovered back. This vat refund can surely help shore increase business bottom line while suitably cutting 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 within the stipulated time frame. Vat rates in the United Kingdom range from 17.5% for standard vat rates to 5% for reduced vat rates to zero vat rates for specific services and products. There’s also specific products and services that are vat exempt. The hmrc website offers the detailed list of such products and services that are split up into 14,000 classifications.

In order to claim a vat refund you will have to preserve and submit all original vat documents including your vat certificate too. While procedures and language in several countries might pose problems, a vat agent amply trained in several vat systems should be able to recover your hard earned cash back to your bank account. Additionally, there are different deadlines within eu countries for filing for a vat reclaim and thus having an in-depth knowledge of eu vat and uk vat rules will certainly provide a distinct benefit to you and your business.

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