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

Starting an organization that needs to import services or goods into the UK can be tough in these competitive times but knowing the number of eu countries which observe vat may help save money http://www.vatcontrol.com/vat/. You may easily be in a position to track tax systems that are similar to your own while claiming vat refunds for previously paid vat in other countries.

There are several countries in the eu that also adhere to the system of value-added tax. Although the language used in the vat invoice might differ in addition to vat rates, the system followed is almost the same Www.vatcontrol.com/vat/. 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 list of eu countries have however opted to remain out of the vat gambit. You can go to the hmrc vat or hm revenue and customs website to read about such territories.

One major advantage that you have when importing goods from such eu countries is that any vat which you may have paid in the particular country can be refunded to you by that country when you apply for a vat reclaim. This procedure can be handled by a professional vat agent that has offices in the United Kingdom along with other countries from where your imports come about . In addition, should you have attended trade events in a eu country and have paid vat for the same then such vat amounts may also be recovered back. This vat refund can surely help shore increase business bottom line while suitably cutting your product costs.

Should you hire an expert 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 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 products and services that are vat exempt. The hmrc website offers the detailed list of such products and services that are split up into 14,000 classifications.

In order 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 should be able to recover your hard earned cash back to your account. There are also different deadlines within eu countries for submitting a vat reclaim and therefore having an in-depth understanding of eu vat and uk vat rules will definitely provide a distinct benefit to you and your business.

If you wish to import goods or services into the UK then choosing eu countries that follow vat would offer several distinct advantages. Knowing the listing of eu countries that follow vat can certainly help save money and also offer simplicity of operation because the system for paying and collecting vat would be the same in all these countries.