Knowing the particular list of eu countries that follow vat can help cut costs

Starting a business that needs to import services or goods into the UK can be difficult during 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 claiming vat refunds for previously paid vat abroad.

There are several countries from the eu that also follow the system of vat. Even though the language employed in the vat invoice might differ in addition to vat rates, the system followed is almost exactly 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 vatnumbersearch.com list of eu countries have however opted to stay out of the vat gambit. You can visit 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 any vat which you may have paid in the particular country may be refunded to your account by that country when you apply for a vat reclaim. This process can be handled by a professional vat agent who has offices in the United Kingdom along with other countries from where your imports take place. Moreover, should you have attended trade events in a eu country and also have paid vat for the very same then such vat amounts may also be recovered back. This vat refund can surely help shore up your business bottom line while suitably lowering your product costs.

Should you hire a specialist 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 period. 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 services and products. There’s also specific services and products which are vat exempt. The hmrc website offers the detailed set of such products and services that are split up into 14,000 classifications.

To be able 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 money back to your bank account. Additionally, there are different time limits within eu countries for submitting 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 wish to import services or goods into the UK then opting for eu countries that follow vat would offer several distinct advantages. Having the listing of eu countries that follow vat can certainly help reduce costs as well as offer ease of operation as the system for paying and collecting vat would be the same in all these countries.