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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 services or goods into the UK can be tough in these competitive times but knowing the number of eu countries that follow vat can help save money vatcontrol-com/vat/. You may definitely be in a position to track tax systems that are a lot like your while also claiming vat refunds for previously paid vat abroad.

There are several countries in the eu which adhere to the system of value-added tax. Even though the language employed in the vat invoice might differ along with vat rates, the system followed is almost the same www.vatcontrol.com/vat/. The list of countries in the EU 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 list of eu countries have however opted to remain 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 you have when importing goods from such eu countries is any vat which you may 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 a professional vat agent who has offices in the UK along with other countries from where your imports take place . Moreover, if you have attended trade events in a eu country and also have paid vat for the same then such vat amounts may also be recovered back. This vat refund can surely help shore increase business net profit while suitably lowering your product costs.

If 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 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 which are vat exempt. The hmrc website offers a detailed list of such products and services which are split up into 14,000 classifications.

To be able to claim a vat refund you will need to preserve and submit all original vat documents including your vat certificate too. While procedures and language in various countries might pose problems, a vat agent amply trained in various vat systems should be able to recover your hard earned cash back to your account. Additionally, there are different deadlines in different eu countries for filing for a vat reclaim and therefore having an in-depth understanding of eu vat and uk vat rules will certainly offer a distinct benefit to you and your business.

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