Knowing the particular set of eu countries that follow vat can help save money

Starting an organization that needs to import goods or services into the UK can be difficult in these competitive times but knowing the number of eu countries that follow vat can help save money. You will definitely be able to track tax systems which are a lot like your while claiming vat refunds for previously paid vat in other countries.

There are many countries from the eu that also adhere to the system of value-added tax. Even though the language used in the vat invoice might differ in addition to vat rates, the system followed is almost exactly the same. This list of countries in the European Union 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 http://vatvalidation.com set of eu countries have however opted to stay out of the vat gambit. You can go to the hmrc vat or hm revenue and customs web site to read 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 file for a vat reclaim. This procedure can be handled by an expert vat agent that has offices in the UK as well as in other countries from where your imports take place. Moreover, should you have attended trade events inside a eu country and have paid vat for the very same then such vat amounts can also be recovered back. This vat refund can surely help shore up your business bottom line while suitably cutting your product costs.

Should 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 within the stipulated time period. Vat rates in the UK range between 17.5% for standard vat rates to 5% for reduced vat rates to zero vat rates for specific products and services. There are also specific services and products which are vat exempt. The hmrc website offers the detailed set of such services and products that 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 several 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 bank account. Additionally, there are different time limits within eu countries for filing for a vat reclaim and therefore having an in-depth knowledge of eu vat and uk vat rules will certainly provide a distinct advantage to you and your business.

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