Understanding europa vat can save money in your business

If you wish to import products or services to your own country that follows vat or value added tax system then knowing about europa vat will save money for your business Www.vatcheck.com. You will be able to accurately calculate the cost of your imported products whilst be able to charge the appropriate vat rate whenever you sell them in local markets.

Most countries in the EU have shifted over to vat and this 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 was already 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 begin issuing vat invoices to your clients, you will have to make an application for vat registration in your own country. For instance, in the United Kingdom you can get vat registered when your taxable sale in the last Twelve months touches £70,000, which is known as the vat threshold. You will have to contact the hmrc vat department and may 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 by way of a vat invoice that mentions your distinct vat number.

You can import services and goods from many europa vat countries including Sweden, UK, France, Germany, Greece, Spain, Italy, Poland, and many more. Although customs duties, excise duties and import vat might differ in each eu country, the basic principle of taxes remains the same. All vat friendly countries have a standard vat rate that is between 15-25%, a particular low vat rate between 1-6% and vat exempt items or services where no vat is charged. The rates might differ so might the language in each vat invoice but 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 need to enroll the expertise of an expert vat and import agent so that your products or services are put within the appropriate classification as deemed fit by relevant tax authorities. Your agent must also have the ability to help you in filing regular vat returns and getting vat refunds in the nation of origin in order 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 can also cross-check the validity of the vat numbers by using the internet. There are many websites that permit you to input the nation code and the vat number before informing you if your vat number is still valid. This move can help you save lots of hassle and funds whilst protecting you from unscrupulous businesses and folks.

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