Get the eu countries list that follow vat

If you want to import goods or services from EU States or countries then you certainly should first get the eu countries list that follow the system of vat or value added tax. This will help you to remain in the same taxation system,
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go in for vat refunds plus be beneficial if you plan to re-export something back to those EU countries.

If your trading company is based in the UK then it’s extremely important to understand fellow EU countries that also follow vat simply because this will continue uniformity in taxation and simplify your paperwork when you import items from such countries. You’ll of course need to pay customs duties, excise duties or import vat for your services or goods according to their classification as deemed by the UK revenue and customs department or hmrc vat department.

If you have already paid vat in any of the eu countries that are mentioned in the list you’ll be able to go for vat reclaim as soon as you sell the goods in the local market at prevailing vat rates. However, before you start selling your goods and charging vat on the very same you will have to become a vat registered trader. The hmrc vat department offers several vat online services and you could simply download the appropriate vat form to complete the vat registration process, even though you will need to submit documentary proof too. As soon as you get your unique vat no you may issue a vat invoice against each sale and charge the corresponding vat rate to your clients in the local market.

The hmrc website features the eu countries list that follows the system of vat. These countries are Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovak Republic, Slovenia, Spain, and Sweden. However, there are some specific territories within some countries that don’t follow vat. Each EU country has been assigned a specific code and follows a particular vat number format. Vat invoices may also be prepared in each country in their own language. For instance, Poland issues a faktura vat, that is their version of the vat invoice.

If you wish to reclaim vat paid in a foreign country then your best way forward should be to hire a vat agent that’s a professional in uk vat in addition to eu vat rules. This will allow you to file your vat returns correctly and in the stipulated time frame whilst doing exactly the same when claiming vat refunds in the country of origin. It is also important to study various classifications in customs, excise and vat duties as well as find out about vat exempt items so that your product costs are reduced in a legal manner. While duty rates might be different in these eu countries, the fact that they all follow vat will surely reduce paperwork and help you with your cost calculations.

Most eu countries follow vat and this factor should certainly be noted if you plan to import services or goods to the UK or in any other vat friendly EU country. The eu countries list already mentioned should help you to identify countries that follow vat and permit you to import products while avoiding the issue of double taxation by allowing you to definitely reclaim vat back.