Warning: Illegal string offset 'box_blank' in /home/webhotel/public_html/skriol.com/wp-content/plugins/seo-smart-links-business/seo-smart-links-business.php on line 634

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


Warning: Illegal string offset 'box_blank' in /home/webhotel/public_html/skriol.com/wp-content/plugins/seo-smart-links-business/seo-smart-links-business.php on line 634

Starting a business 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 which observe vat can help reduce costs. You will definitely be in a position to track tax systems which are a lot like your own while claiming vat refunds for previously paid vat in other countries.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 vatnumbers.com in addition to vat rates, the system followed is virtually the same. The list of countries within 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 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 find out 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 may be refunded to you by that country once you apply for a vat reclaim. This procedure can be handled by an expert vat agent who has offices in the United Kingdom as well as in other countries from which your imports take place. In addition, should you have attended trade events inside a eu country and also have paid vat for the very same then such vat amounts can also be recovered back. This vat refund can surely help shore increase business net profit while suitably lowering your product costs.

Should you hire an expert 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 period. 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 which are vat exempt. The hmrc website provides the detailed list of such products and services that 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 various countries might pose problems, a vat agent well versed in various vat systems should be able to recover your hard earned cash back into your bank account. Additionally, there are different time limits in different eu countries for filing for a vat reclaim and therefore having an in-depth knowledge of eu vat and uk vat rules will definitely offer a distinct advantage to you and your business.

If you want to import goods or services to 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 reduce costs and also offer simplicity of operation as the system for paying and collecting vat would be the same in all these countries.