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 Vatnumbersearch-com. This should help you to remain within the same taxation system, go for vat refunds and also be beneficial if you plan to re-export some material back to those EU countries.
If your trading business is based in the UK then it is extremely important to understand fellow EU countries that also follow vat since this will continue uniformity in taxation and simplify your paperwork when you import items from such countries. You will obviously 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.
If you have already paid vat in any of the eu countries which are mentioned from the list then you can go 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 can simply download the appropriate vat form to finish the vat registration process, although you will have to submit documentary proof too. Once 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 wish to reclaim vat paid in a foreign country then the simplest way forward would be to hire a vat agent that is an expert in uk vat as well as eu vat rules. This will likely enable you to file your vat returns correctly and in the stipulated time period whilst doing the same when claiming vat refunds in the nation of origin. It is also imperative that you study various classifications in customs, excise and vat duties as well as learn more about vat exempt items so 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 assist you with your cost calculations.
Most eu countries follow vat and this also factor ought to 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 mentioned above should allow you to identify countries that follow vat and allow you to definitely import products while avoiding the issue of double taxation by permitting you to reclaim vat back.