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

If you wish to import goods and services to your own country that follows vat or value added tax system then being aware of europa vat can save money for your business Http://vatcheck.com. You'll be able to accurately calculate the buying price of your imported products whilst have the ability to charge the correct vat rate whenever you sell them in local markets.

Most countries in the EU have shifted over to vat and this helps 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. If 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 United Kingdom you will get vat registered when your taxable sale in the last 12 months touches £70,000, which is called the vat threshold. You will need to contact the hmrc vat department and can even use their vat online services to fill the vat form to apply for vat registration. When your business gets the necessary registration then you can charge vat rates as prescribed by the department by way of a vat invoice that mentions your distinct vat number.

You can import services and goods from several 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 continues to be same. All vat friendly countries have a standard vat rate which is between 15-25%, a special 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 might be a bit complicated to decipher, you should enroll the expertise of a professional vat and import agent so your products or services are placed in 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 applying for vat refunds in the country of origin so as to return the doubly-charged tax amount back to your coffers.

In case you want to deal with other business in other europa countries that follow vat then you could also cross-check the validity of the vat numbers by using the internet. There are several websites that permit you to input the country code along with the vat number before informing you if your vat number remains to be valid. This move can help you save lots of hassle and money whilst keeping you safe from unscrupulous businesses and individuals.

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