If you want to import services or goods 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 should help you to stay within the same taxation system, go in for vat refunds plus benefit you if you plan to re-export something back to those EU countries.
If your trading business is located in the UK then it’s very important to know about fellow EU countries that also 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 have 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 which are mentioned in the list you’ll be able to 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 same you will need to be a vat registered trader. The hmrc vat department offers several vat online services and you can simply download the appropriate 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 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 a few specific territories within some countries that do not follow vat. Each EU country has been assigned a specific code and follows a particular vat number format. Vat invoices may also be 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 want to reclaim vat paid in another country then the simplest way forward should be to hire a vat agent that is a professional in uk vat as well as eu vat rules. This will likely enable you to file your vat returns correctly and within the stipulated time frame while also doing 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 as well as find out about vat exempt items so your product costs are reduced in a legal manner. While duty rates could be different in these eu countries, the fact that they all follow vat will certainly reduce paperwork and assist you with your cost calculations.
Most eu countries follow vat and this also factor ought to be noted if you’re going to import goods or services to the UK or perhaps any other vat friendly EU country. The eu countries list mentioned above 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 reclaim vat back.