If you want to import goods or services from EU States or countries then you certainly should first get 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, go for vat refunds plus benefit you vat check 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 which follow vat since this will continue uniformity in taxation and simplify your paperwork when you import items from such countries. You will of course have 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 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 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 finish the vat registration process, although you will need to submit documentary proof too. As soon as you get your unique vat no you may issue a vat invoice against each sale and charge the related 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 is 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 instance, Poland issues a faktura vat, that is their version of the vat invoice.
If you wish to reclaim vat paid in another country then your simplest way forward should be to hire a vat agent that is an expert in uk vat as well as eu vat rules. This will likely allow you to file your vat returns correctly and in the stipulated time period while also doing the same when claiming vat refunds in the country of origin. Additionally it is imperative that you study various classifications in customs, excise and vat duties as well as learn more 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 assist you with your cost calculations.
Most eu countries follow vat and this also factor should certainly be noted if you plan to import goods or services into the UK or in some other vat friendly EU country. The eu countries list already mentioned should allow 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.