Get the eu countries list that follow vat

If you wish to import goods or services from EU States or countries then you certainly should first get the eu countries list that follow the system of vat or value added tax. This will help you to remain in the same taxation system,
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go for vat refunds plus benefit you if you plan to re-export something back to those EU countries.

If your trading business is located in the UK then it is extremely important to know about fellow EU countries that also follow vat simply because this will continue uniformity in taxation and simplify your paperwork whenever you import items from such countries. You will of course need to pay customs duties, excise duties or import vat on your goods or services according to their classification as deemed by the UK revenue and customs department or hmrc vat department.

If you have already paid vat in most of the eu countries which are mentioned in the list you’ll be able to go in for vat reclaim once you sell the goods in the local market at prevailing vat rates. However, before you begin selling your goods and charging vat on the same you will need to become a vat registered trader. The hmrc vat department offers several vat online services and you can simply download the right vat form to complete the vat registration process, although you will have to submit documentary proof too. As soon as you get the unique vat no you may issue a vat invoice against each sale and charge the related vat rate to your clients in the local market.

The hmrc website features the eu countries list that follows the system of vat. These countries are Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovak Republic, Slovenia, Spain, and Sweden. However, there are some specific territories within some countries that do not follow vat. Each EU country is assigned a particular code and follows a particular vat number format. Vat invoices may also be prepared in each country in its own language. For instance, Poland issues a faktura vat, which is their version of a vat invoice.

If you wish to reclaim vat paid in another country then the best way forward would be to hire a vat agent that’s an expert in uk vat in addition to eu vat rules. This will enable you to file your vat returns correctly and in the stipulated time period while also doing exactly the same when claiming vat refunds in the nation of origin. It is also imperative that you study various classifications in customs, excise and vat duties as well as find out about vat exempt items so your product cost is reduced in a legal manner. While duty rates could be different within these eu countries, the fact that each of them follow vat will surely reduce paperwork and help you with your cost calculations.

Most eu countries follow vat and this factor should certainly be noted if you’re going to import services or goods to the UK or perhaps any other vat friendly EU country. The eu countries list already mentioned should allow you to identify countries that follow vat and permit you to import products while avoiding the issue of double taxation by allowing you to definitely reclaim vat back.