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

Starting an organization that needs to import services or goods into the UK can be tough in these competitive times but knowing the range of eu countries that follow vat may help save money. You may definitely be in a position to track tax systems that are a lot like your while claiming vat refunds for previously paid vat in other countries.

There are several countries from the eu that also adhere to the system of value-added tax. Although the language employed in the vat invoice might differ along with vat rates, the system followed is virtually 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 vatnumbersearch.com 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 web site to read about such territories.

One major advantage that you have when importing goods from such eu countries is any vat that you might have paid in a particular country can be refunded to your account by that country when you file for a vat reclaim. This procedure can be handled by a professional vat agent that has offices in the United Kingdom along with other countries from which your imports take place. Moreover, should you have attended trade shows 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 will also help calculate sales vat rates as well as 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 set of such services and products which are split up into 14,000 classifications.

In order 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 various countries might pose a problem, a vat agent amply trained in several vat systems must be able to recover your hard earned cash back into your account. There are also different deadlines in different eu countries for submitting a vat reclaim and therefore having an in-depth understanding of eu vat and uk vat rules will definitely offer a distinct benefit to both you and your business.

If you want to import goods or services to the UK then opting for eu countries that follow vat would offer several distinct advantages. Knowing the listing of eu countries that follow vat will help save money and also offer simplicity of operation because the system for paying and collecting vat would be the same in all these countries.