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Knowing about europa vat can help to save money in your business


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If you wish to import products or services to your own country that follows vat or value added tax system then being aware of europa vat can save money in your business Http://vatcheck.com. You’ll be able to accurately calculate the buying price of your imported products while also be able to charge the correct vat rate whenever you sell them in local markets.

Most countries within the EU have shifted to vat and this helps achieve uniformity in cross-country imports and exports . It has also allowed businesses to go in for vat refunds on imports where vat was already paid in the original country of export. If you too intend to import goods where vat has already been paid then you definitely too can make an application for vat reclaim in the country of origin with supporting documents that show your local sales along with the vat rates.

However, before you start issuing vat invoices to your clients, you will have to apply for vat registration in your own country. For instance, in the United Kingdom you will get vat registered when your taxable sale during the last Twelve months touches £70,000, which is called the vat threshold. You will need to contact the hmrc vat department and can even use their vat online services to fill up the vat form to get vat registration. Once your business gets the necessary registration you’ll be able to charge vat rates as prescribed by the department by way of a vat invoice that mentions your distinct vat number.

You may import services and goods from several europa vat countries including Sweden, UK, France, Germany, Greece, Spain, Italy, Poland, and many others. Although customs duties, excise duties and import vat might differ in each eu country, the basic principle of taxes remains the same. All vat friendly countries have a standard vat rate which is between 15-25%, a special low vat rate between 1-6% and vat exempt items or services where no vat is charged. The rates might differ so might the text in each vat invoice but the formula for calculating vat continues to be same in all these countries.

Since customs, excise and vat rules might be a bit complicated to decipher, you should enroll the expertise of an expert vat and import agent so that your goods and services are put within the appropriate classification as deemed fit by relevant tax authorities. Your agent should also be able to assist you in filing regular vat returns and getting vat refunds in the country of origin in order to return the doubly-charged tax amount back into your coffers.

In case you want to deal with other business in other europa countries that follow vat then you can also cross-check the validity of their vat numbers by using the internet. There are several websites that allow you to input the nation code along with the vat number before informing you if your vat number remains valid. This move can save you a lot of hassle and funds whilst keeping you safe from unscrupulous businesses and folks.

Conducting business with vat friendly eu countries will guarantee your paperwork proceeds in a seamless manner due to the common platform of vat. If you’re going to begin an enterprise in a EU country that has embraced vat then you definitely should first check the europa vat list before you begin importing products or services from such countries.