If you want 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 in your business Www.vatcheck.com. You’ll be able to accurately calculate the buying price of your imported products while also have the ability to charge the correct vat rate whenever you sell them in local markets.
Most countries within the EU have shifted over 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. If you too plan to import goods where vat was already paid then you can also make an application for vat reclaim in the country of origin with supporting documents that show your 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 example, in the UK you will get vat registered when your taxable sale in the last 12 months touches £70,000, which is known as the vat threshold. You will need to contact the hmrc vat department and can use their vat online services to fill the vat form to get vat registration. Once your business has 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 many 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 basic principle of taxes remains the same. All vat friendly countries have a very standard vat rate that is between 15-25%, a particular 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 but the formula for calculating vat remains the same in all these countries.
Since customs, excise and vat rules can be a bit complicated to decipher, you should enroll the expertise of an expert vat and import agent so that your products or services are placed 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 nation of origin in order to return the doubly-charged tax amount back into 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 using the internet. There are many websites that permit you to input the nation code along with the vat number before informing you if your vat number is still valid. This move can save you lots of hassle and money whilst protecting you 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’re going to start an enterprise in a EU country which has embraced vat then you definitely should first check the europa vat list before you begin importing services or products from such countries.