If you want to import goods or services from EU States or countries then you should first have the eu countries list that follow the system of vat or value added tax. This should help you to remain within the same taxation system,
www.vatvalidation.com
go for vat refunds and also benefit you if you plan to re-export something back to those EU countries.
If your trading business is based in the UK then it’s very important to know about fellow EU countries which follow vat since this will continue uniformity in taxation and simplify your paperwork whenever you import items from such countries. You will of course need to pay customs duties, excise duties or import vat on your goods or services based on their classification as deemed by the UK revenue and customs department or hmrc vat department.
If you have already paid vat in most of the eu countries that are mentioned in the list you’ll be able to go in for vat reclaim as soon as you sell the goods in the local market at prevailing vat rates. However, before you start selling your goods and charging vat on the 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 appropriate vat form to complete 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 your 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 don’t follow vat. Each EU country has been assigned a particular code and follows a specific vat number format. Vat invoices may also be prepared in each country in their 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 in addition to eu vat rules. This will allow you to file your vat returns correctly and in the stipulated time period whilst doing the same when claiming vat refunds in the country of origin. It is also important to study various classifications in customs, excise and vat duties and also find out about vat exempt items so that your product costs are reduced in a legal manner. While duty rates might be different in these eu countries, the fact each of them follow vat will certainly reduce paperwork and help you with your cost calculations.
Most eu countries follow vat and this factor ought to be noted if you plan to import services or goods to the UK or perhaps some other vat friendly EU country. The eu countries list mentioned above should allow you to identify countries that follow vat and permit you to import products while avoiding the problem of double taxation by allowing you to definitely reclaim vat back.