If you wish to import goods or services 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 in the same taxation system, go in for vat refunds plus be beneficial if you plan to re-export something back into those EU countries.
If your trading company is based in the UK then it is very important to understand fellow EU countries that also follow vat since this will continue uniformity in taxation and simplify your paperwork whenever you import items from such countries. You will obviously need to pay customs duties, excise duties or import vat for 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 that are mentioned from the list then you can go in for vat reclaim as soon as you sell goods in the local market at prevailing vat rates. However, before you begin selling your goods and charging vat on the very same you will have to be a vat registered trader. The hmrc vat department offers several vat online services and you could simply download the appropriate vat form to finish the vat registration process, even though you will need to submit documentary proof too. Once you get your unique vat no you may 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 some specific territories within some countries that don’t follow vat. Each EU country is assigned a particular code and follows a specific vat number format. Vat invoices are also prepared in each country in its own language. For example, Poland issues a faktura vat, which is their version of the vat invoice.
If you wish to reclaim vat paid in a foreign country then your simplest way forward would be to hire a vat agent that’s a professional in uk vat as well as eu vat rules. This will likely allow you to file your vat returns correctly and within the stipulated time period whilst doing exactly the same when claiming vat refunds in the nation of origin. It is also important to study various classifications in customs, excise and vat duties as well as find out about vat exempt items so your product cost is reduced in a legal manner. While duty rates might be different within these eu countries, the fact they all follow vat will surely reduce paperwork and help you with your cost calculations.
Most eu countries follow vat and this factor should certainly be noted if you plan to import services or goods to the UK or in any other vat friendly EU country. The eu countries list already mentioned should help you to identify countries that follow vat and permit you to import products while avoiding the problem of double taxation by allowing you to reclaim vat back.