Knowing about europa vat can save money for your business

If you want to import goods and services into your own country that follows vat or value added tax system then knowing about europa vat will save money in your business vatcheck.com. You’ll be able to accurately calculate the buying price of your imported products whilst have the ability to charge the appropriate vat rate when you sell them in local markets.

Most countries in the EU have shifted to vat and this 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. If you too plan to import goods where vat was already paid then you too can make an application for vat reclaim in the country of origin with supporting documents that show the local sales together with the vat rates.

However, before you start issuing vat invoices to your clients, you will need to make an application for vat registration in your own country. For example, in the United Kingdom you will get vat registered once your taxable sale during the last 12 months touches £70,000, which is called the vat threshold. You will need to contact the hmrc vat department and may use their vat online services to fill the vat form to get vat registration. When your business has the necessary registration then you can charge vat rates as prescribed by the department by way of a vat invoice that mentions your distinct vat number.

You can import goods and services 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 basic principle of taxes continues to be same. All vat friendly countries have a standard vat rate that is between 15-25%, a special low vat rate between 1-6% and vat exempt items or services where no vat is charged. The rates might differ so might the language in each vat invoice but the formula for calculating vat continues to be same in all these countries.

Since customs, excise and vat rules might be a bit complicated to decipher, you should enroll the expertise of a professional vat and import agent so that your goods and services are placed within the appropriate classification as deemed fit by relevant tax authorities. Your agent must also be able to help you in filing regular vat returns and getting vat refunds in the country of origin so as 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 utilizing the internet. There are many websites that permit you to input the nation code along with the vat number before informing you if the vat number remains to be valid. This move can save you a lot of hassle and funds while also keeping you safe from unscrupulous businesses and folks.

Conducting business with vat friendly eu countries will ensure your paperwork proceeds in a seamless manner due to the common platform of vat. If you’re going to start an enterprise in any EU country that has embraced vat then you should first look into the europa vat list before you begin importing products or services from such countries.