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

Starting an organization that is going to import goods or services to the UK can be difficult in these competitive times but knowing the range of eu countries that observe vat may help save money. You may easily be in a position to track tax systems that are similar to your while claiming vat refunds for previously paid vat in other countries.

There are several countries from the eu that also follow the system of value-added tax. Even though the language employed in the vat invoice might differ along with vat rates, the system followed is almost the same. This 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 particular vatvalidation list of eu countries have however opted to remain out from the vat gambit. You can visit the hmrc vat or hm revenue and customs web site to find out about such territories.

One major advantage you have when importing goods from such eu countries is any vat which you may have paid in a particular country may be refunded to you by that country once you file for a vat reclaim. This procedure can be handled by a professional vat agent who has offices in the United Kingdom along with other countries from which your imports take place. In addition, should you have attended trade shows in 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 increase business bottom line while suitably cutting 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 and also file your vat returns in 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 which are vat exempt. The hmrc website provides the detailed list of such services and products which are split up into 14,000 classifications.

To be able to claim a vat refund you will need to preserve and submit all original vat documents including your vat certificate too. While procedures and language in several countries might pose problems, a vat agent well versed in various vat systems must be able to recover your hard earned cash back to your bank account. Additionally, there are different deadlines in different eu countries for filing for a vat reclaim and therefore having an in-depth understanding of eu vat and uk vat rules will definitely offer a distinct benefit to you and your business.

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