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

Starting a business that needs to import services or goods to the UK can be difficult during these competitive times but understanding the range of eu countries which observe vat can help save money. You may definitely be in a position to track tax systems that are a lot like your own while also claiming vat refunds for previously paid vat in other countries.

There are many countries from the eu which adhere to the system of value-added tax. Even though the language used in the vat invoice might differ along with vat rates, the system followed is almost www.vatcheck.com the same. This list of countries within the EU that 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 stay out from the vat gambit. You can visit the hmrc vat or hm revenue and customs web site to read about such territories.

One major advantage you have when importing goods from such eu countries is any vat which you may have paid in the particular country may be refunded to your account by that country once you file for a vat reclaim. This procedure can be handled by an expert vat agent that has offices in the UK along with other countries from which your imports come about. In addition, if you have attended trade events inside a eu country and also have paid vat for the very same then such vat amounts can also be recovered back. This vat refund can surely help shore increase business net profit while suitably lowering your product costs.

If you hire an expert vat, customs duties, and excise duties agent then that agent will also help calculate sales vat rates and also file your vat returns in the stipulated time period. 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 are also specific products and services that are vat exempt. The hmrc website provides a detailed list of such products and services which are split up into 14,000 classifications.

In order to claim a vat refund you will need to preserve and submit all original vat documents together with your vat certificate too. While procedures and language in various countries might pose problems, a vat agent amply trained in several vat systems must be able to recover your hard earned money back to your account. Additionally, there are different deadlines within eu countries for submitting a vat reclaim and therefore having an in-depth knowledge of eu vat and uk vat rules will definitely provide a distinct advantage to you and your business.

If you want to import services or goods into the UK then choosing eu countries that follow vat would offer several distinct advantages. Having the listing of eu countries that follow vat will help save money and also offer ease of operation as the system for paying and collecting vat will be the same in all these countries.