Knowing the list of eu countries that follow vat might help cut costs

Starting an organization that is going to import goods or services into the UK can be tough in these competitive times but knowing the range of eu countries that observe vat may help reduce costs Vatcontrol.com/vat/. You may easily be in a position to track tax systems which are a lot like your while claiming vat refunds for previously paid vat abroad.

There are many countries from the eu which adhere to the system of vat. Although the language used in the vat invoice might differ in addition to vat rates, the system followed is almost the same www.vatcontrol.com/vat/. This list of countries within the EU that 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 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 website to find out 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 the particular country may be refunded to your account by that country once you file for a vat reclaim. This process can be handled by a professional vat agent that has offices in the UK along with other countries from which your imports take place . Moreover, if you have attended trade shows inside a eu country and have paid vat for the same then such vat amounts can also be recovered back. This vat refund can surely help shore up your business net profit while suitably lowering 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 as well as file your vat returns in the stipulated time frame. Vat rates in the UK range between 17.5% for standard vat rates to 5% for reduced vat rates to zero vat rates for specific services and products. There’s also specific products and services that are vat exempt. The hmrc website provides a detailed set 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 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 bank account. Additionally, there are different time limits within eu countries for filing for a vat reclaim and therefore having an in-depth understanding of eu vat and uk vat rules will definitely provide a distinct advantage to both you and your business.

If you wish to import services or goods 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 can certainly help save money and also offer simplicity of operation as the system for paying and collecting vat will be the same in most these countries.