If you want to import services or goods 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 https://vatnumbersearch.com. This should help you to stay in the same taxation system, go in for vat refunds and also be beneficial if you are planning to re-export something back to those EU countries.
In case your trading business is located in the UK then it’s extremely important to know about fellow EU countries which follow vat simply because this will continue uniformity in taxation and simplify your paperwork whenever you import items from such countries. You will obviously have 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 most of the eu countries that are mentioned in the list then you can go for vat reclaim once you sell the 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 need to be a vat registered trader. The hmrc vat department offers several vat online services and you could simply download the right vat form to complete the vat registration process, although you will have to submit documentary proof too. Once you get your unique vat no then you can issue a vat invoice against each sale and charge the related 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 do not follow vat. Each EU country is assigned a specific code and follows a specific vat number format. Vat invoices are also 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 your simplest way forward would be to hire a vat agent that is a professional in uk vat in addition to eu vat rules. This will enable you to file your vat returns correctly and in the stipulated time frame while also doing the same when claiming vat refunds in the nation of origin. Additionally it is imperative that you study various classifications in customs, excise and vat duties and also find out about vat exempt items so your product costs are reduced in a legal manner. While duty rates could be different in these eu countries, the fact that each of them follow vat will surely reduce paperwork and assist you with your cost calculations.
Most eu countries follow vat and this factor ought to be noted if you’re going to import services or goods into the UK or in some other vat friendly EU country. The eu countries list mentioned above should help you to identify countries that follow vat and allow you to import products while avoiding the problem of double taxation by allowing you to definitely reclaim vat back.