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


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Starting a business that is going to import services or goods to the UK can be difficult during these competitive times but knowing the number of eu countries that follow vat can help save money. You will easily be able to track tax systems which are similar to your own while also claiming vat refunds for previously paid vat in other countries.

There are several 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 almost the same. This list of countries within 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 vatnumbersearch set of eu countries have however opted to remain out from the vat gambit. You can go to 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 any vat that you might have paid in the particular country can be refunded to your account by that country once you apply for a vat reclaim. This procedure can be handled by an expert vat agent that has offices in the UK along with other countries from where your imports take place. In addition, if you have attended trade events inside 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 will also help calculate sales vat rates as well as file your vat returns in 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 products and services that are vat exempt. The hmrc website provides a 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 including your vat certificate too. While procedures and language in several countries might pose problems, a vat agent well versed in various vat systems must be able to recover your hard earned money back to your account. Additionally, there are different time limits 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 offer a distinct benefit to both you and your business.

If you want to import goods or services 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 will help reduce costs as well as offer ease of operation as the system for paying and collecting vat would be the same in most these countries.