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

Starting an organization that is going to import goods or services into the UK can be tough during these competitive times but understanding the range of eu countries which follow vat can help save money. You may definitely be in a position to track tax systems that are a lot like your own while also
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claiming vat refunds for previously paid vat abroad.

There are many countries in the eu which follow the system of vat. Although the language employed in the vat invoice might differ in addition to vat rates, the system followed is almost 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 particular 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 read about such territories.

One major advantage you have when importing goods from such eu countries is any vat that you might have paid in the particular country may be refunded to you by that country when you file for a vat reclaim. This procedure can be handled by a professional vat agent that has offices in the UK as well as in other countries from which your imports come about. In addition, should you have attended trade shows in a eu country and also have paid vat for the same then such vat amounts can also be recovered back. This vat refund can surely help shore increase business bottom line while suitably lowering 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 and also file your vat returns in the stipulated time frame. 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 services and products. There’s also specific products and services that are vat exempt. The hmrc website offers a 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 need to preserve and submit all original vat documents together with your vat certificate too. While procedures and language in various countries might pose a problem, a vat agent well versed in various vat systems should be able to recover your hard earned money back into your account. There are also different deadlines 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 provide a distinct advantage to both 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. Having the listing of eu countries that follow vat can certainly help reduce costs and also offer simplicity of operation because the system for paying and collecting vat would be the same in most these countries.