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

Starting an organization that needs to import goods or services to the UK can be tough in these competitive times but understanding the number of eu countries which follow vat can help reduce costs Http://www.vatcontrol.com/vat/. You will easily be in a position to track tax systems which are similar to your while also claiming vat refunds for previously paid vat in other countries.

There are several countries in the eu that also adhere to the system of vat. Even though the language employed in the vat invoice might differ along with vat rates, the system followed is almost exactly the same Vatcontrol.com/vat/. The list of countries in 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 set of eu countries have however opted to stay out of the vat gambit. You can visit the hmrc vat or hm revenue and customs website to read 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 can be refunded to you by that country once you file for a vat reclaim. This process can be handled by an expert vat agent that has offices in the UK as well as in other countries from where your imports come about . Moreover, if you have attended trade events inside a eu country and also 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 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 within the stipulated time frame. 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 products and services. There are also specific services and products that are vat exempt. The hmrc website offers a detailed set of such services and products which are put into 14,000 classifications.

In order 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 various vat systems should be able to recover your hard earned cash back into your account. Additionally, there are different time limits in different eu countries for filing for a vat reclaim and thus having an in-depth knowledge of eu vat and uk vat rules will definitely offer a distinct advantage to you and your business.

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