Knowing about europa vat can save money for your business

If you want to import products or services to your own country that follows vat or value added tax system then being aware of europa vat will save money in your business. You will be able to accurately calculate the buying price of your imported products while also be able to charge the appropriate vat rate whenever you sell them in local markets.

Most countries within the EU have shifted over to vat which helps 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. In case you too plan to import goods where vat was already paid then you can also 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 need to apply for vat registration in your own country. For example, in the UK you can get vat registered when your taxable sale during the last 12 months touches £70,000, which is called vatverification.com the vat threshold. You will need to contact the hmrc vat department and may use their vat online services to fill up the vat form to get vat registration. When your business gets the necessary registration then you can charge vat rates as prescribed by the department by way of a vat invoice that mentions your distinct vat number.

You may import services and goods from several 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 basic principle of taxes remains the same. All vat friendly countries have a standard vat rate which 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 but the formula for calculating vat remains the same in all these countries.

Since customs, excise and vat rules might be a bit complicated to decipher, you need to enroll the services of an expert vat and import agent so your products or services are put in the appropriate classification as deemed fit by relevant tax authorities. Your agent must also have the ability to assist you in filing regular vat returns and applying for vat refunds in the nation of origin in order to return the doubly-charged tax amount back to 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 their vat numbers by utilizing the internet. There are many websites that allow you to input the country code along with the vat number before informing you if your vat number remains valid. This move can save you lots of hassle and funds whilst keeping you safe from unscrupulous businesses and individuals.

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