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Being aware of the particular list of eu countries that follow vat can help cut costs


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

There are several countries from the eu which follow the system of value-added tax. Although the language used in the vat invoice might differ in addition to vat rates, the system followed is almost exactly 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 read about such territories search vat number.

One major advantage you have when importing goods from such eu countries is any vat that you might have paid in the particular country can be refunded to you by that country once you file for a vat reclaim. This procedure can be handled by an expert vat agent who has offices in the United Kingdom along with other countries from where your imports come about. In addition, 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.

If you hire an expert vat, customs duties, and excise duties agent then that agent can also help calculate sales vat rates as well as file your vat returns within 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 services and products. There are also specific services and products which are vat exempt. The hmrc website provides a detailed list 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 together with your vat certificate too. While procedures and language in several countries might pose problems, a vat agent well versed in various vat systems should be able to recover your hard earned money back to your account. There are also different deadlines within eu countries for submitting a vat reclaim and thus having an in-depth knowledge of eu vat and uk vat rules will certainly provide a distinct advantage to both you and your business vies.

If you wish to import goods or services into the UK then choosing eu countries that follow vat would offer several distinct advantages. Knowing the listing of eu countries that follow vat can certainly help save money as well as offer simplicity of operation because the system for paying and collecting vat will be the same in all these countries.