Understanding europa vat can help to save money for your business

If you wish to import goods and services to your own country that follows vat or value added tax system then being aware of europa vat will save money in your business Www.vatcheck.com. You’ll be able to accurately calculate the buying price of your imported products while also be able to charge the appropriate vat rate whenever you sell them in local markets.

Most countries in the EU have shifted to vat and this helps achieve uniformity in cross-country imports and exports. It’s also allowed businesses to go in for vat refunds on imports where vat was already paid in the original country of export. In case you too intend 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 called the vat threshold. You will have to contact the hmrc vat department and may use their vat online services to fill 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 through a vat invoice that mentions your unique vat number.

You may import goods and services from many europa vat countries including Sweden, UK, France, Germany, Greece, Spain, Italy, Poland, and many others. 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 standard vat rate that 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 so might the language in each vat invoice but the formula for calculating vat remains the same in all these countries.

Since customs, excise and vat rules might be a bit complicated to decipher, you need to enroll the services of an expert vat and import agent so your products or services are put in the appropriate classification as deemed fit by relevant tax authorities. Your agent should also be able to help you in filing regular vat returns and getting vat refunds in the country of origin in order to return the doubly-charged tax amount back into 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 using the internet. There are several websites that permit you to input the country code and the vat number before informing you if your vat number remains valid. This move can help you save a lot of hassle and money whilst keeping you safe from unscrupulous businesses and individuals.

Conducting business with vat friendly eu countries will ensure that your paperwork proceeds in a seamless manner due to the common platform of vat. If you plan to start an enterprise in a EU country that has embraced vat then you should first check the europa vat list before you start importing services or products from such countries.