Being aware of the particular list of eu countries that follow vat might help cut costs

Starting a business that needs to import goods or services into the UK can be tough during these competitive times but knowing the range of eu countries that follow vat may help reduce costs. You will easily be able to track tax systems which are similar to your while also claiming vat refunds for previously paid vat in other countries.

There are several countries in the eu that also adhere to the system of vat. Even though the language used in the vat invoice might differ in addition to vat rates, the system followed is virtually the same. This list of countries within the European Union which 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 stay out of the vat gambit. You can visit the hmrc vat or hm revenue and customs web site to find out about such territories vat check.

One major advantage that you have when importing goods from such eu countries is that any vat that you might have paid in the particular country may be refunded to you by that country when you file for a vat reclaim. This process can be handled by an expert vat agent who has offices in the United Kingdom along with other countries from where your imports come about. Moreover, if you have attended trade shows inside a eu country and have paid vat for the very same then such vat amounts can also be recovered back. This vat refund can surely help shore increase business net profit while suitably lowering your product costs.

If you hire a specialist vat, customs duties, and excise duties agent then that agent will also help calculate sales vat rates and also file your vat returns in the stipulated time period. Vat rates in the UK range from 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 a detailed set of such products and services which are put into 14,000 classifications.

To be able to claim a vat refund you will have to preserve and submit all original vat documents including your vat certificate too. While procedures and language in various countries might pose problems, a vat agent amply trained in various vat systems must be able to recover your hard earned cash back to your account. Additionally, there are different time limits within eu countries for submitting a vat reclaim and therefore having an in-depth knowledge of eu vat and uk vat rules will certainly provide a distinct advantage to you and your business vat number.

If you wish to import goods or services to the UK then opting for eu countries that follow vat would offer several distinct advantages. Having the list of eu countries that follow vat can certainly help reduce costs as well as offer simplicity of operation as the system for paying and collecting vat will be the same in most these countries.