Find the eu countries list that follow vat
If you want to import goods or services 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. This should help you to stay within the same taxation system, go for vat refunds and also be beneficial if you plan to re-export something back into those EU countries.
In case your trading business is based in the UK then it’s extremely important to know about fellow EU countries which follow vat simply because this will continue uniformity in taxation and simplify your paperwork whenever you import items from such countries www.vatregistrationnumber.com. You’ll obviously need to pay customs duties, excise duties or import vat on your goods or services based on their classification as deemed by the UK revenue and customs department or hmrc vat department.
If you have already paid vat in any of the eu countries which are mentioned in the list you’ll be able to go for vat reclaim as soon as you sell goods in the local market at prevailing vat rates. However, before you start selling your goods and charging vat on the very same you will have to be a vat registered trader. The hmrc vat department offers several vat online services and you can simply download the right vat form to finish the vat registration process, even though you will have to submit documentary proof too. Once you get your unique vat no then you can issue a vat invoice against each sale and charge the related 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 a few specific territories within some countries that do not follow vat. Each EU country is assigned a specific code and follows a particular vat number format. Vat invoices are also prepared in each country in its 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 a foreign country then the best way forward should be to hire a vat agent that is an expert in uk vat in addition to eu vat rules. This will allow you to file your vat returns correctly and in the stipulated time frame whilst doing exactly the same when claiming vat refunds in the nation of origin more helpful hints. Additionally it is imperative that you study various classifications in customs, excise and vat duties and also find out about vat exempt items so that your product cost is reduced in a legal manner. While duty rates might 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 plan to import goods or services to the UK or in some other vat friendly EU country. The eu countries list already mentioned should help you to identify countries that follow vat and permit you to definitely import products while avoiding the issue of double taxation by permitting you to definitely reclaim vat back.