Starting a business that is going to import services or goods into the UK can be difficult in these competitive times but knowing the number of eu countries that follow vat can help save money. You will definitely be able to track tax systems that are a lot like your own while also claiming vat refunds for previously paid vat in other countries.

There are many countries in the eu which adhere to the system of value-added tax. Although the language employed in the vat invoice might differ along with vat rates, the system followed is almost exactly the same. This 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 stay out of the vat gambit. You can go to the hmrc vat or hm revenue and customs website 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 a particular country can be refunded to you by that country when you apply 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 come about. Moreover, should you have attended trade events in an 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 up your business net profit while suitably cutting 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 and also file your vat returns in the stipulated time period. 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 products and services that are vat exempt. The hmrc website offers a detailed set of such services and products which are put into 14,000 classifications.

In order to claim a vat refund you will have to preserve and submit all original vat documents including your vat certificate too. While procedures and language in several countries might pose problems, a vat agent amply trained in several vat systems must be able to recover your hard earned cash back to your account. Additionally, there are 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 certainly provide a distinct advantage to both you and your business.

If you want to import services or goods into the UK then choosing eu countries that follow vat would offer several distinct advantages. Having the listing of eu countries that follow vat will help reduce costs as well as offer simplicity of operation as the system for paying and collecting vat would be the same in all these countries.

If you want to know more about vies then visit us at: checkvatnumber.com.


Sponsored Links

About Author

Author:

This author has published 37 articles so far. More info about the author is coming soon.