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

Starting an organization that needs to import goods or services to the UK can be tough in these competitive times but understanding the range of eu countries that follow vat can help save money Www.vatcontrol.com/vat/. You may definitely be able to track tax systems that are a lot like your while also claiming vat refunds for previously paid vat in other countries.

There are several countries from the eu which adhere to the system of vat. Even though the language employed in the vat invoice might differ in addition to vat rates, the system followed is almost the same https://vatcontrol.com/vat/. This list of countries within the European Union 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 set of eu countries have however opted to remain out of the vat gambit. You can visit the hmrc vat or hm revenue and customs web site to read 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 a particular country may be refunded to your account by that country once you file for a vat reclaim. This process can be handled by an expert vat agent that has offices in the UK as well as in other countries from where your imports come about . Moreover, should 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 bottom line while suitably cutting your product costs.

If you hire a specialist 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 United Kingdom range between 17.5% for standard vat rates to 5% for reduced vat rates to zero vat rates for specific services and products. There are also specific services and products that are vat exempt. The hmrc website offers the detailed set of such products and services which are put into 14,000 classifications.

In order 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 several countries might pose problems, a vat agent amply trained in several vat systems must be able to recover your hard earned cash back to your account. There are also different deadlines in different eu countries for filing for a vat reclaim and therefore having an in-depth knowledge of eu vat and uk vat rules will certainly provide a distinct benefit to both you and your business.

If you want to import services or goods into 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 and also offer ease of operation as the system for paying and collecting vat would be the same in most these countries.