Knowing the list of eu countries that follow vat can help cut costs

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

There are several countries from the eu which follow the system of vat. Even though the language employed in the vat invoice might differ in addition to vat rates, the system followed is virtually the same. This 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 set of eu countries have however opted to remain out from the vat gambit. You can visit the hmrc vat or hm revenue and customs website to find out about such territories.

One major advantage that you have when importing goods from such eu countries is that any vat which you may have paid in a 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 United Kingdom along with other countries from which your imports take place. Moreover, if you have attended trade shows in a eu country and have paid vat for the same then such vat amounts may also be recovered back. This vat refund can surely help shore up your business bottom line while suitably cutting your product costs.

If 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 in the stipulated time frame. Vat rates in the United Kingdom range between 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 services and products which are vat exempt. The hmrc website offers a detailed set of such services and products 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 various countries might pose a problem, a vat agent amply trained in various vat systems should be able to recover your hard earned money back into your bank account. There are also different deadlines in different eu countries for submitting a vat reclaim and therefore having an in-depth understanding of eu vat and uk vat rules will definitely offer a distinct benefit to both 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 list of eu countries that follow vat will help reduce costs as well as offer ease of operation because the system for paying and collecting vat will be the same in all these countries.