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

Starting a business that needs to import goods or services into the UK can be tough during these competitive times but knowing the range of eu countries which follow vat may help reduce costs. You may definitely be able to track tax systems that are similar to your while also


www.vatcheck.com

claiming vat refunds for previously paid vat in other countries.

There are many countries from the eu that also 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. The list of countries in 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 particular 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 read about such territories.

One major advantage that you have when importing goods from such eu countries is that any vat that you might have paid in the particular country can be refunded to you by that country once you file for a vat reclaim. This process can be handled by a professional vat agent that has offices in the United Kingdom along with other countries from where your imports come about. 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 net profit while suitably cutting your product costs.

Should you hire a specialist vat, customs duties, and excise duties agent then that agent can also help calculate sales vat rates as well as file your vat returns within the stipulated time period. 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 are also specific products and services that are vat exempt. The hmrc website provides the detailed list of such products and services 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 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 money back into your bank account. Additionally, there are different time limits within eu countries for submitting a vat reclaim and therefore having an in-depth understanding of eu vat and uk vat rules will definitely provide a distinct advantage 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. Knowing the list of eu countries that follow vat will help save money as well as offer simplicity of operation because the system for paying and collecting vat will be the same in most these countries.