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


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Starting an organization that needs to import services or goods to the UK can be tough during these competitive times but understanding the number of eu countries that observe vat can help reduce costs. You may definitely be in a position to track tax systems that are similar to your own while also claiming vat refunds for previously paid vat abroad.

There are several countries in 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 virtually vatcheck.com the same. The list of countries in the European Union 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 remain 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 that any vat which you may have paid in the particular country can be refunded to your account by that country when you file for a vat reclaim. This procedure can be handled by a professional vat agent who has offices in the United Kingdom as well as in other countries from which your imports come about. Moreover, if you have attended trade events inside a eu country and have paid vat for the same then such vat amounts can also be recovered back. This vat refund can surely help shore up your business net profit while suitably lowering 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 in the stipulated time frame. Vat rates in the UK range between 17.5% for standard vat rates to 5% for reduced vat rates to zero vat rates for specific products and services. There’s also specific products and services that are vat exempt. The hmrc website provides a detailed list of such products and services which are put 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 a problem, a vat agent well versed in several vat systems should be able to recover your hard earned cash back into your account. There are also different deadlines within eu countries for filing for a vat reclaim and therefore having an in-depth knowledge of eu vat and uk vat rules will definitely provide a distinct advantage to you and your business.

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