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

Starting a business that needs to import goods or services to the UK can be tough during these competitive times but knowing the range of eu countries that observe vat may help reduce costs. You will easily be in a position to track tax systems which are a lot like your while claiming vat refunds for previously paid vat in other countries.

There are several countries in the eu that also follow the system of vat. Although the language employed in the vat invoice might differ along with vat rates, the system followed is almost exactly the same. This list of countries checkvatnumber 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 particular list of eu countries have however opted to stay out from the vat gambit. You can go to the hmrc vat or hm revenue and customs website to read about such territories.

One major advantage that you have when importing goods from such eu countries is that any vat which you may have paid in the particular country may be refunded to your account by that country once you apply for a vat reclaim. This procedure can be handled by an expert vat agent who has offices in the United Kingdom along with other countries from where your imports come about. Moreover, if you have attended trade shows inside 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 increase business net profit while suitably cutting your product costs.

If you hire a specialist vat, customs duties, and excise duties agent then that agent will also help calculate sales vat rates as well as file your vat returns in the stipulated time frame. 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 are also specific products and services which are vat exempt. The hmrc website provides a detailed list of such services and products 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 together with your vat certificate too. While procedures and language in several countries might pose a problem, a vat agent well versed in various vat systems must be able to recover your hard earned money back to your account. There are also different time limits within eu countries for submitting a vat reclaim and thus having an in-depth understanding of eu vat and uk vat rules will definitely provide a distinct advantage to you and your business.

If you want to import goods or services to the UK then choosing eu countries that follow vat would offer several distinct advantages. Knowing the list of eu countries that follow vat can certainly help save money as well as offer ease of operation because the system for paying and collecting vat would be the same in most these countries.