Understanding europa vat can help to save money in your business

If you wish to import goods and services into your own country that follows vat or value added tax system then knowing about europa vat will save money in your business http://vatcheck.com. You’ll be able to accurately calculate the cost of your imported products while also have the ability to charge the appropriate vat rate when you sell them in local markets.

Most countries within the EU have shifted over to vat which has helped achieve uniformity in cross-country imports and exports. It has also allowed businesses to go in for vat refunds on imports where vat has already been paid in the original country of export. If you too plan to import goods where vat was already paid then you too can apply for vat reclaim in the country of origin with supporting documents that show your local sales along with the vat rates.

However, before you start issuing vat invoices to your clients, you will need to make an application for vat registration in your own country. For instance, in the United Kingdom you will get vat registered once your taxable sale in the last Twelve months touches £70,000, which is known as the vat threshold. You will need to contact the hmrc vat department and can even use their vat online services to fill the vat form to get vat registration. Once your business gets the necessary registration you’ll be able to charge vat rates as prescribed by the department through a vat invoice that mentions your distinct vat number.

You may import services and goods from many europa vat countries including Sweden, UK, France, Germany, Greece, Spain, Italy, Poland, and many others. Although customs duties, excise duties and import vat might differ in each eu country, the essential principle of taxes remains the same. All vat friendly countries have a very standard vat rate that is between 15-25%, a special low vat rate between 1-6% and vat exempt items or services where no vat is charged. The rates might differ so might the text in each vat invoice however the formula for calculating vat continues to be same in all these countries.

Since customs, excise and vat rules can be a bit complicated to decipher, you should enroll the expertise of a professional vat and import agent so that your goods and services are placed within the appropriate classification as deemed fit by relevant tax authorities. Your agent must also be able to assist you in filing regular vat returns and applying for vat refunds in the nation of origin so as to return the doubly-charged tax amount back into your coffers.

In case you want to handle other business in other europa countries that follow vat then you could also cross-check the validity of the vat numbers by utilizing the internet. There are several websites that permit you to input the nation code and the vat number before informing you if your vat number remains to be valid. This move can save you a lot of hassle and money while also protecting you from unscrupulous businesses and folks.

Conducting business with vat friendly eu countries will guarantee your paperwork proceeds in a seamless manner thanks to the common platform of vat. If you’re going to start a business in any EU country which has embraced vat then you should first look into the europa vat list before you begin importing products or services from such countries.