Understanding europa vat can save money for your business

If you wish to import products or services to your own country that follows vat or value added tax system then being aware of europa vat will save money for your business www.vatcheck.com. You will be able to accurately calculate the buying price of your imported products whilst be able to charge the appropriate vat rate when you sell them in local markets.

Most countries within the EU have shifted over 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 has already been paid in the original country of export. In case you too plan 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 together with the vat rates.

However, before you begin issuing vat invoices to your clients, you will need to apply for vat registration in your own country. For instance, in the United Kingdom you will get vat registered when your taxable sale during the last 12 months touches £70,000, which is called the vat threshold. You will need to contact the hmrc vat department and may use their vat online services to fill up the vat form to apply for vat registration. When your business gets the necessary registration then you can 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 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 continues to be same. All vat friendly countries have a standard vat rate which 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 text 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 expertise of a professional vat and import agent so that your goods and services are put within the appropriate classification as deemed fit by relevant tax authorities. Your agent should also have the ability to assist you in filing regular vat returns and applying for vat refunds in the nation of origin in order to return the doubly-charged tax amount back to your coffers.

In case you want to deal with other business in other europa countries that follow vat then you can also cross-check the validity of their vat numbers by using the internet. There are several websites that allow you to input the nation code along with the vat number before informing you if the vat number remains to be valid. This move can save you lots of hassle and money whilst protecting you from unscrupulous businesses and folks.

Conducting business with vat friendly eu countries will guarantee that your paperwork proceeds in a seamless manner due to the common platform of vat. If you’re going to start a business in any EU country which has embraced vat then you definitely should first check the europa vat list before you begin importing products or services from such countries.