Knowing about europa vat can save money for your business

If you want to import products or services into your own country that follows vat or value added tax system then knowing about europa vat will save money for your business www.vatcheck.com. You’ll be able to accurately calculate the cost of your imported products while also have the ability to charge the correct vat rate when you sell them in local markets.

Most countries within the EU have shifted over to vat which has helped achieve uniformity in cross-country imports and exports . It’s also allowed businesses to go in for vat refunds on imports where vat has already been paid in the original country of export. If you too plan to import goods where vat was already paid then you definitely too can 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 instance, in the United Kingdom you will get vat registered when your taxable sale during the last Twelve months touches £70,000, which is called the vat threshold. You will need to contact the hmrc vat department and may use their vat online services to fill the vat form to apply for vat registration. When your business gets the necessary registration then you can charge vat rates as prescribed by the department through 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 more. Although customs duties, excise duties and import vat might differ in each eu country, the basic principle of taxes continues to be same. All vat friendly countries have a very standard vat rate that is between 15-25%, a particular low vat rate between 1-6% and vat exempt items or services where no vat is charged. The rates might differ and so might the text in each vat invoice however 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 should enroll the expertise of an expert vat and import agent so that your goods and 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 country of origin in order to return the doubly-charged tax amount back into your coffers.

In case you want to handle other business in other europa countries that follow vat then you can also cross-check the validity of their vat numbers by using the internet. There are several websites that allow you to input the country code and the vat number before informing you if the vat number remains valid. This move can save you a lot of hassle and money while also keeping you safe from unscrupulous businesses and folks.

Conducting business with vat friendly eu countries will ensure that your paperwork proceeds in a seamless manner thanks to the common platform of vat. If you’re going to begin a business 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.