Understanding europa vat can help to save money for your business

If you wish to import goods and services into your own country that follows vat or value added tax system then being aware of europa vat can save money in your business Http://vatcheck.com. You will be able to accurately calculate the cost of your imported products whilst have the ability to charge the correct vat rate when you sell them in local markets.

Most countries within the EU have shifted to vat which helps achieve uniformity in cross-country imports and exports . It has 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 has already been paid then you too can apply for vat reclaim in the country of origin with supporting documents that show the local sales along with the vat rates.

However, before you start 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 can 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 use their vat online services to fill up the vat form to apply for vat registration. Once your business has the necessary registration you’ll be able to 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 many europa vat countries including Sweden, UK, France, Germany, Greece, Spain, Italy, Poland, and many more. Although customs duties, excise duties and import vat might differ in each eu country, the basic principle of taxes remains the same. All vat friendly countries have a very standard vat rate which 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 and so might the text 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 products or services are put in the appropriate classification as deemed fit by relevant tax authorities. Your agent should also have the ability to help you in filing regular vat returns and applying for vat refunds in the nation 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 could also cross-check the validity of the vat numbers by utilizing the internet. There are many websites that permit you to input the country code and the vat number before informing you if the vat number remains valid. This move can help you save lots of hassle and funds whilst protecting you 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 plan to begin a business in any EU country that has embraced vat then you definitely should first check the europa vat list before you begin importing products or services from such countries.