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

Starting a business that needs 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 definitely be in a position to track tax systems which are a lot like your while also claiming vat refunds for previously paid vat in other countries.There are many countries in the eu which adhere to the system of vat. Even though the language used in the vat invoice might differ www.vatnumbers.com along with vat rates, the system followed is almost the same. The 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 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 find out about such territories.

One major advantage that you have when importing goods from such eu countries is any vat that you might have paid in a particular country may be refunded to you by that country when you file for a vat reclaim. This procedure can be handled by an expert vat agent who has offices in the UK along with other countries from which your imports take place. In addition, should you have attended trade shows 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 net profit while suitably cutting your product costs.

If you hire an expert vat, customs duties, and excise duties agent then that agent can also help calculate sales vat rates and also file your vat returns within 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 products and services. There are also specific services and products that are vat exempt. The hmrc website offers the detailed set of such services and products which are split up into 14,000 classifications.

In order 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 several countries might pose a problem, a vat agent well versed in several vat systems must be able to recover your hard earned money back to your bank account. Additionally, there are different time limits in different eu countries for filing for a vat reclaim and thus having an in-depth knowledge of eu vat and uk vat rules will certainly provide a distinct benefit to 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 save money as well as offer ease of operation as the system for paying and collecting vat would be the same in most these countries.