Confirm all european vat rules before importing goods into an EU State

Starting a new business venture in a vat enabled European State or country will only bear fruit if you confirm all european vat rules before importing goods into that EU State. This move will help you to legally exploit all avenues to make sure that your cost is kept at the very least and therefore the problem of double taxation does not eat in your profits.

Several EU countries have embraced vat or vat over the past decade to ensure that trading between such countries proceeds on a common platform. Countries such as the UK, Spain, Greece, Italy, Germany, France, Poland, Netherlands, Sweden, and Hungary, among others have adapted vat and many countries in addition have moved to one common currency, i.e. the Euro. This move has facilitated smoother trading between these countries and if you would like to start a business in a EU country which has changed over to vat then appropriate comprehension of eu vat rules is required to keep a tight leash on your own costs search vat number.

Any goods or services that you import into your country will attract customs or excise duties or even import vat, dependant on its classification. In order to charge vat to your customers, you’ll need to turn into a vat registered dealer, which can be done once you cross the vat threshold in taxable sales. Now you can make a vat invoice in your country and charge the applicable vat rates to your customers. Additionally, you will need to file regular vat returns based on your sales and purchases.

However, if you’re located in any european country that follows vat system and also have imported goods into your country where vat has already been paid in the original country or have used services in a country where vat has been paid you’ll be able to reclaim the vat amount. You can claim vat amount on goods where vat was already paid by applying for your vat refund inside the original country. In case you or your employees have attended trade events or paid vat on any other services overseas, you’ll be able to still apply for a vat reclaim to recuperate the amount of vat paid.

The european vat rates various eu countries range between 15 to 25%, while special vat rates on certain goods and services vary from 1 to 6%. There are also certain products which are vat exempt. These rates can easily make a huge difference in the product costs and when you can recover any tax that has already been paid then this can make a positive influence on your enterprise bottom-line. An experienced and trusted vat agent can surely help you. Make sure you seek out a broker that only takes fees or commissions from vat amounts recovered rather than charging a flat fee search vat number.

Many countries in Europe have chose a uniform tax system on goods and services, which is good news if you intend to start a whole new business in that country. Your costing process will become simpler and you’ll surely be able to recover vat amounts that have been charged previously. However, you need to surely confirm all european vat rules before importing goods into an EU State in order to defend your fledgling business from any financial shocks.