If you wish to import goods or services from EU States or countries then you certainly should first have the eu countries list that follow the system of vat or value added tax vatnumbersearch-com. This will help you to stay within the same taxation system, go in for vat refunds plus be beneficial if you plan to re-export something back to those EU countries.
If your trading company is based in the UK then it is very important to understand fellow EU countries which follow vat simply because this will continue uniformity in taxation and simplify your paperwork when you import items from such countries. You will of course need to pay customs duties, excise duties or import vat on your services or goods according to 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 in the list then you can go in for vat reclaim once 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 become a vat registered trader. The hmrc vat department offers several vat online services and you can simply download the right vat form to complete the vat registration process, even though you will need to submit documentary proof too. Once you get the unique vat no then you can issue a vat invoice against each sale and charge the corresponding vat rate to the 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 particular vat number format. Vat invoices are also prepared in each country in their own language. For instance, Poland issues a faktura vat, that is their version of a vat invoice.
If you wish to reclaim vat paid in another country then your simplest way forward would be to hire a vat agent that’s a professional in uk vat in addition to eu vat rules. This will likely enable 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. Additionally it is imperative that you study various classifications in customs, excise and vat duties and also learn more about vat exempt items so that your product costs are reduced in a legal manner. While duty rates might be different within these eu countries, the fact that each of them follow vat will surely 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 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 import products while avoiding the issue of double taxation by permitting you to definitely reclaim vat back.