Starting a business that needs to import services or goods to the UK can be difficult in these competitive times but knowing the number of eu countries that follow vat may help reduce costs. You will easily be in a position to track tax systems which are similar to your own while also claiming vat refunds for previously paid vat abroad.

There are several countries from the eu which adhere to the system of vat. Even though the language used in the vat invoice might differ along with vat rates, the system followed is virtually the same. The list of countries in the European Union 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 stay out from the vat gambit. You can visit 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 that any vat that you might have paid in a particular country can be refunded to your account by that country once you file for a vat reclaim. This process can be handled by an expert vat agent who has offices in the United Kingdom along with other countries from which your imports take place. In addition, should you have attended trade events inside an 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 increase business bottom line while suitably cutting your product costs.

Should you hire an expert vat, customs duties, and excise duties agent then that agent will also help calculate sales vat rates as well as file your vat returns within the stipulated time frame. Vat rates in the UK range from 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 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.

To be able to claim a vat refund you will need to preserve and submit all original vat documents together with your vat certificate too. While procedures and language in several countries might pose a problem, a vat agent well versed in several vat systems should be able to recover your hard earned money back to your bank account. There are also different time limits in different eu countries for submitting a vat reclaim and thus having an in-depth understanding of eu vat and uk vat rules will certainly offer a distinct advantage to you and your business.

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

If you want to know more about vat number then visit us at: vatcheck.com.


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