Being aware of the list of eu countries that follow vat can help save money

Starting an organization that is going to import goods or services into the UK can be difficult in these competitive times but understanding the number of eu countries that follow vat may help save money. You will easily be in a position to track tax systems which are a lot like your own 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. Even though the language employed in the vat invoice might differ in addition to vat rates, the system followed is almost the same. 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 particular list of eu countries have however opted to remain out from the vat gambit. You can go to the hmrc vat or hm revenue and customs website to read about such territories search vat number.

One major advantage you have when importing goods from such eu countries is that any vat which you may have paid in a particular country may be refunded to your account by that country once you file for a vat reclaim. This procedure can be handled by an expert vat agent that has offices in the United Kingdom along with other countries from which your imports come about. Moreover, if you have attended trade events in a eu country and also have paid vat for the very same then such vat amounts may 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 within 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 products and services. There are also specific products and services which are vat exempt. The hmrc website provides the detailed set of such products and services that 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 including your vat certificate too. While procedures and language in various countries might pose a problem, a vat agent amply trained in various vat systems must be able to recover your hard earned cash back to your account. There are also different time limits in different eu countries for submitting a vat reclaim and therefore having an in-depth understanding of eu vat and uk vat rules will certainly provide a distinct advantage to you and your business vat check.

If you wish to import goods or services to the UK then opting for eu countries that follow vat would offer several distinct advantages. Knowing the list of eu countries that follow vat will help save money as well as offer ease of operation because the system for paying and collecting vat would be the same in most these countries.