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

Starting an organization that needs to import services or goods to the UK can be difficult in these competitive times but understanding the number of eu countries which observe vat can help reduce costs. You will easily be able to track tax systems that are similar to your own while claiming vat refunds for previously paid vat abroad.

There are many countries in the eu that also adhere to the system of vat. Although the language used in the vat invoice might differ in addition to vat rates, the system followed is almost vat check exactly the same. The list of countries within the EU 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 list of eu countries have however opted to remain out of the vat gambit. You can go to the hmrc vat or hm revenue and customs web site to read about such territories.

One major advantage that you have when importing goods from such eu countries is any vat which you may have paid in a particular country can be refunded to your account by that country once you file for a vat reclaim. This procedure can be handled by an expert vat agent who has offices in the UK along with other countries from where your imports come about. In addition, if you have attended trade events inside a eu country and have paid vat for the same then such vat amounts may also be recovered back. This vat refund can surely help shore up your business bottom line while suitably lowering your product costs.

Should you hire an expert vat, customs duties, and excise duties agent then that agent can also help calculate sales vat rates as well as file your vat returns within the stipulated time period. Vat rates in the United Kingdom 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 services and products that are vat exempt. The hmrc website provides a detailed list of such products and services that are put 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 problems, a vat agent amply trained in several vat systems should be able to recover your hard earned cash back to your bank account. There are also different time limits in different eu countries for submitting a vat reclaim and thus having an in-depth knowledge of eu vat and uk vat rules will certainly offer a distinct advantage to both you and your business.

If you want to import services or goods into the UK then opting for eu countries that follow vat would offer several distinct advantages. Having the listing of eu countries that follow vat will help reduce costs as well as offer simplicity of operation because the system for paying and collecting vat would be the same in most these countries.