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 Vatnumbersearch.com. This will help you to remain in the same taxation system, go in for vat refunds and also be beneficial if you plan to re-export something back into those EU countries.
In case your trading company is based in the UK then it is extremely important to know about fellow EU countries which follow vat since this will continue uniformity in taxation and simplify your paperwork whenever you import items from such countries. You will of course need to pay customs duties, excise duties or import vat for 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 that are mentioned from the list you’ll be able to go for vat reclaim as soon as you sell the goods in the local market at prevailing vat rates. However, before you start selling your goods and charging vat on the same you will have to become a vat registered trader. The hmrc vat department offers several vat online services and you could simply download the right vat form to finish the vat registration process, although you will need to submit documentary proof too. As soon as you get the unique vat no you may 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 some specific territories within some countries that don’t follow vat. Each EU country is assigned a specific code and follows a specific vat number format. Vat invoices are also 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 want to reclaim vat paid in another country then the best way forward would be to hire a vat agent that’s an expert in uk vat as well as eu vat rules. This will allow you to file your vat returns correctly and in the stipulated time period whilst doing exactly the same when claiming vat refunds in the nation of origin. Additionally it is important to study various classifications in customs, excise and vat duties and also find out about vat exempt items so that your product costs are reduced in a legal manner. While duty rates could be different within these eu countries, the fact that each of them follow vat will certainly reduce paperwork and assist you with your cost calculations.
Most eu countries follow vat and this factor ought to be noted if you plan to import services or goods into the UK or in some other vat friendly EU country. The eu countries list mentioned above should allow you to identify countries that follow vat and allow you to import products while avoiding the problem of double taxation by permitting you to definitely reclaim vat back.