Knowing about europa vat can save money in your business

If you want to import products or services into your own country that follows vat or value added tax system then being aware of europa vat can save money in your business. You'll be able to accurately calculate the cost of your imported products while also have the ability to charge the appropriate vat rate when you sell them in local markets.

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

However, before you begin issuing vat invoices to your clients, you will have to make an application for vat registration in your own country. For example, in the UK you can get vat registered once your taxable sale during the last Twelve months touches £70,000, which is known as http://vatverification.com the vat threshold. You will need to contact the hmrc vat department and may use their vat online services to fill the vat form to apply for vat registration. When your business has the necessary registration you'll be able to charge vat rates as prescribed by the department through a vat invoice that mentions your distinct vat number.

You can import goods and services 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 remains the same. All vat friendly countries have a very standard vat rate which 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 so might the language in each vat invoice but the formula for calculating vat continues to be same in all these countries.

Since customs, excise and vat rules can be a bit complicated to decipher, you need to enroll the expertise of an expert vat and import agent so your goods and services are placed within the appropriate classification as deemed fit by relevant tax authorities. Your agent must also be able to assist 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 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 their vat numbers by utilizing the internet. There are several websites that allow you to input the nation code along with the vat number before informing you if your vat number remains valid. This move can save you lots of hassle and money while also protecting you from unscrupulous businesses and individuals.

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