Knowing about europa vat can help to save money for your business
If you want to import goods and services to your own country that follows vat or value added tax system then knowing about europa vat can save money for your business Http://www.vatcheck.com. You will be able to accurately calculate the buying price of your imported products whilst be able to charge the appropriate vat rate whenever you sell them in local markets.
Most countries within the EU have shifted to vat which has helped achieve uniformity in cross-country imports and exports. It’s also allowed businesses to go in for vat refunds on imports where vat was already paid in the original country of export. In case you too plan to import goods where vat was already paid then you definitely can also apply for vat reclaim in the country of origin with supporting documents that show your local sales along with the vat rates.
However, before you begin issuing vat invoices to your clients, you will have to make an application for vat registration in your own country. For instance, in the United Kingdom you will get vat registered once your taxable sale during the last 12 months touches £70,000, which is known as the vat threshold. You will need to contact the hmrc vat department and may even use their vat online services to fill the vat form to apply for vat registration. When your business gets the necessary registration you’ll be able to charge vat rates as prescribed by the department through a vat invoice that mentions your unique vat number.
You can import services and goods from several europa vat countries including Sweden, UK, France, Germany, Greece, Spain, Italy, Poland, and many others. Although customs duties, excise duties and import vat might differ in each eu country, the essential principle of taxes continues to be same. All vat friendly countries have a very standard vat rate which is between 15-25%, a particular low vat rate between 1-6% and vat exempt items or services where no vat is charged. The rates might differ so might the text in each vat invoice however the formula for calculating vat continues to be same in all these countries.
Since customs, excise and vat rules can be a bit complicated to decipher, you need to enroll the services of a professional vat and import agent so your goods and services are placed within the appropriate classification as deemed fit by relevant tax authorities. Your agent must also have the ability to help you in filing regular vat returns and getting vat refunds in the country of origin in order to return the doubly-charged tax amount back to your coffers.
In case you want to deal with other business in other europa countries that follow vat then you can also cross-check the validity of their vat numbers by using the internet. There are many websites that allow you to input the nation code along with the vat number before informing you if your vat number is still valid. This move can help you save a lot of hassle and funds whilst keeping you safe from unscrupulous businesses and individuals.
Conducting business with vat friendly eu countries will guarantee that your paperwork proceeds in a seamless manner thanks to the common platform of vat. If you’re going to start an enterprise in a EU country that has embraced vat then you should first check the europa vat list before you begin importing services or products from such countries.