If you wish to import products or services into your own country that follows vat or value added tax system then being aware of europa vat will save money for your business Http://www.vatcheck.com. You’ll be able to accurately calculate the cost of your imported products while also be able to charge the appropriate vat rate when you sell them in local markets.
Most countries in the EU have shifted to vat and this has helped 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. In case you too intend to import goods where vat was already paid then you definitely can also apply for vat reclaim in the country of origin with supporting documents that show your local sales along with the vat rates.
However, before you start issuing vat invoices to your clients, you will have to apply for vat registration in your own country. For example, in the United Kingdom you can get vat registered when your taxable sale during the last 12 months touches £70,000, which is known as the vat threshold. You will have to contact the hmrc vat department and may even use their vat online services to fill the vat form to apply for vat registration. When your business has the necessary registration then you can charge vat rates as prescribed by the department by way of a vat invoice that mentions your unique vat number.
You may import services and goods from several 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 essential principle of taxes remains the same. All vat friendly countries have a very 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 and so might the language in each vat invoice however the formula for calculating vat continues to be same in all these countries.
Since customs, excise and vat rules can 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 must also have the ability to help you in filing regular vat returns and getting vat refunds in the country of origin so as to return the doubly-charged tax amount back to your coffers.
In case you want to handle other business in other europa countries that follow vat then you can also cross-check the validity of the vat numbers by utilizing the internet. There are several websites that allow you to input the nation 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 funds while also keeping you safe from unscrupulous businesses and folks.
Conducting business with vat friendly eu countries will ensure that your paperwork proceeds in a seamless manner thanks to the common platform of vat. If you plan to begin an enterprise in any EU country that has embraced vat then you should first look into the europa vat list before you start importing products or services from such countries.