Get the eu countries list that follow vat
If you wish to import services or goods from EU States or countries then you certainly should first get the eu countries list that follow the system of vat or value added tax www.vatnumbersearch.com. This should help you to stay in the same taxation system, go for vat refunds plus be beneficial if you plan to re-export something back into those EU countries.
If your trading company is located in the UK then it is very important to understand fellow EU countries that also follow vat since this will continue uniformity in taxation and simplify your paperwork whenever you import items from such countries. You will obviously have to pay customs duties, excise duties or import vat on your services or goods based on their classification as deemed by the UK revenue and customs department or hmrc vat department.
For those who have already paid vat in any of the eu countries which are mentioned from the list then you can go for vat reclaim once you sell goods in the local market at prevailing vat rates. However, before you begin selling your goods and charging vat on the same you will need to be a vat registered trader. The hmrc vat department offers several vat online services and you could simply download the appropriate vat form to finish the vat registration process, although you will have to submit documentary proof too. As soon as you get the unique vat no then you can issue a vat invoice against each sale and charge the corresponding vat rate to your clients in the local market.
The hmrc website features the eu countries list that follows the system of vat. These countries are Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovak Republic, Slovenia, Spain, and Sweden. However, there are some specific territories within some countries that do not follow vat. Each EU country has been assigned a particular code and follows a specific vat number format. Vat invoices may also be prepared in each country in their own language. For example, Poland issues a faktura vat, that is their version of the vat invoice.
If you wish to reclaim vat paid in another country then your best way forward would be to hire a vat agent that’s a professional in uk vat as well as eu vat rules. This will likely allow you to file your vat returns correctly and in the stipulated time frame whilst doing the same when claiming vat refunds in the country of origin. Additionally it is important to study various classifications in customs, excise and vat duties as well as learn more about vat exempt items so your product costs are reduced in a legal manner. While duty rates could be different within these eu countries, the fact that they all follow vat will surely reduce paperwork and assist you with your cost calculations.
Most eu countries follow vat and this factor should certainly be noted if you’re going to import services or goods to the UK or perhaps any other vat friendly EU country. The eu countries list already mentioned should allow you to identify countries that follow vat and allow you to import products while avoiding the problem of double taxation by allowing you to definitely reclaim vat back.
