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


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Starting an organization that is going to import goods or services into the UK can be tough in these competitive times but knowing the range of eu countries that observe vat can help reduce costs. You will 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 that also follow the system of vat. Although the language employed in the vat invoice might differ in addition to vat rates, the system followed is almost exactly the same. The list of countries checkvatnumber 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 particular set of eu countries have however opted to stay out of the vat gambit. You can visit 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 any vat that you might have paid in the particular country may be refunded to your account by that country once you apply for a vat reclaim. This procedure can be handled by a professional vat agent who has offices in the UK as well as in other countries from which your imports come about. In addition, should you have attended trade events in 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 lowering your product costs.

Should you hire a specialist vat, customs duties, and excise duties agent then that agent can also help calculate sales vat rates and also file your vat returns in the stipulated time frame. 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 a detailed set of such products and services which are put into 14,000 classifications.

In order to claim a vat refund you will have to preserve and submit all original vat documents together with your vat certificate too. While procedures and language in various countries might pose a problem, a vat agent well versed in various vat systems must be able to recover your hard earned money back into your bank account. There are also different time limits 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 both 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 and also offer simplicity of operation because the system for paying and collecting vat will be the same in all these countries.