Knowing about europa vat can help to save money for your business

If you want to import products or services to your own country that follows vat or value added tax system then being aware of europa vat can save money in your business vatcheck-com. You’ll be able to accurately calculate the cost of your imported products whilst be able to charge the correct vat rate when you sell them in local markets.

Most countries within the EU have shifted over to vat which has helped achieve uniformity in cross-country imports and exports. It has also allowed businesses to go in for vat refunds on imports where vat has already been paid in the original country of export. In case you too plan to import goods where vat was already paid then you definitely too can apply for vat reclaim in the country of origin with supporting documents that show your local sales along with the vat rates.

However, before you start issuing vat invoices to your clients, you will need to apply for vat registration in your own country. For example, in the UK you can get vat registered when your taxable sale during the last Twelve months touches £70,000, which is known as the vat threshold. You will have to contact the hmrc vat department and can even use their vat online services to fill up the vat form to get vat registration. When your business gets the necessary registration then you can charge vat rates as prescribed by the department through a vat invoice that mentions your unique vat number.

You can import goods and services from many europa vat countries including Sweden, UK, France, Germany, Greece, Spain, Italy, Poland, and many others. Although customs duties, excise duties and import vat might differ in each eu country, the essential principle of taxes remains the same. All vat friendly countries have a very standard vat rate that is between 15-25%, a particular low vat rate between 1-6% and vat exempt items or services where no vat is charged. The rates might differ and so might the text in each vat invoice but the formula for calculating vat remains the same in all these countries.

Since customs, excise and vat rules can be a bit complicated to decipher, you should enroll the expertise of a professional vat and import agent so that your products or services are placed within the appropriate classification as deemed fit by relevant tax authorities. Your agent must also have the ability to help you in filing regular vat returns and getting vat refunds in the nation of origin in order to return the doubly-charged tax amount back into your coffers.

In case you want to deal with other business in other europa countries that follow vat then you can also cross-check the validity of their vat numbers by utilizing the internet. There are several websites that allow you to input the country code and the vat number before informing you if the vat number is still valid. This move can help you save a lot of hassle and funds whilst protecting you from unscrupulous businesses and individuals.

Conducting business with vat friendly eu countries will ensure that your paperwork proceeds in a seamless manner thanks to the common platform of vat. If you plan to start a business in any EU country which has embraced vat then you definitely should first look into the europa vat list before you begin importing services or products from such countries.