If you want to import goods and services into your own country that follows vat or value added tax system then being aware of europa vat can save money for your business http://vatcheck.com. You will be able to accurately calculate the cost of your imported products while also have the ability to charge the appropriate vat rate when you sell them in local markets.
Most countries within the EU have shifted over to vat which 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 has already been paid in the original country of export. In case you too intend to import goods where vat has already been paid then you can also apply for vat reclaim in the country of origin with supporting documents that show your local sales along with the vat rates.
However, before you start issuing vat invoices to your clients, you will need to apply for vat registration in your own country. For example, in the UK you can get vat registered when your taxable sale during the last 12 months touches £70,000, which is known as the vat threshold. You will need to contact the hmrc vat department and may use their vat online services to fill the vat form to get vat registration. When 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 can import goods and services from several 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 essential principle of taxes remains the same. All vat friendly countries have a very standard vat rate that is between 15-25%, a special 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 continues to be same in all these countries.
Since customs, excise and vat rules can be a bit complicated to decipher, you should enroll the services of an expert vat and import agent so that your goods and services are put within the appropriate classification as deemed fit by relevant tax authorities. Your agent must also be able to help you in filing regular vat returns and applying for 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 deal with other business in other europa countries that follow vat then you could also cross-check the validity of the vat numbers by using the internet. There are several websites that allow you to input the nation code and the vat number before informing you if the vat number is still valid. This move can help you save lots of hassle and money while also protecting you from unscrupulous businesses and individuals.
Conducting business with vat friendly eu countries will ensure that your paperwork proceeds in a seamless manner thanks to the common platform of vat. If you plan to start a business in a EU country which has embraced vat then you should first check the europa vat list before you begin importing services or products from such countries.