Find the eu countries list that follow vat
If you wish to import goods or services from EU States or countries then you should first get the eu countries list that follow the system of vat or value added tax. This will help you to remain within the same taxation system,
Vatvalidation.com
go in for vat refunds plus be beneficial if you are planning to re-export something back into those EU countries.
In case your trading company is based in the UK then it is very important to understand fellow EU countries which follow vat since this will continue uniformity in taxation and simplify your paperwork when you import items from such countries. You will of course have to pay customs duties, excise duties or import vat on your goods or services based on their classification as deemed by the UK revenue and customs department or hmrc vat department.
If you have already paid vat in most of the eu countries which are mentioned from the list you’ll be able to go in for vat reclaim once you sell the goods in the local market at prevailing vat rates. However, before you start selling your goods and charging vat on the same you will need to be a vat registered trader. The hmrc vat department offers several vat online services and you could simply download the right vat form to finish the vat registration process, although you will have to submit documentary proof too. As soon as you get your unique vat no you may issue a vat invoice against each sale and charge the corresponding vat rate to the clients in the local market.
The hmrc website features the eu countries list that follows the system of vat. These countries are Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovak Republic, Slovenia, Spain, and Sweden. However, there are some specific territories within some countries that don’t follow vat. Each EU country has been assigned a particular code and follows a particular vat number format. Vat invoices are also prepared in each country in their own language. For example, Poland issues a faktura vat, which is their version of a vat invoice.
If you want to reclaim vat paid in another country then your best way forward would be to hire a vat agent that’s an expert in uk vat as well as eu vat rules. This will allow you to file your vat returns correctly and in the stipulated time frame while also doing the same when claiming vat refunds in the nation of origin. It is also imperative that you study various classifications in customs, excise and vat duties as well as find out about vat exempt items so your product cost is reduced in a legal manner. While duty rates might be different in these eu countries, the fact they all follow vat will surely reduce paperwork and help you with your cost calculations.
Most eu countries follow vat and this also factor should certainly be noted if you plan to import goods or services to the UK or in any other vat friendly EU country. The eu countries list already mentioned should allow you to identify countries that follow vat and permit you to import products while avoiding the problem of double taxation by permitting you to reclaim vat back.