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 http://vatnumbersearch.com. This should help you to remain in the same taxation system, go for vat refunds plus benefit you if you are planning to re-export something back into 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 whenever you import items from such countries. You will obviously need 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.
For those who have already paid vat in any of the eu countries that are mentioned in the list you’ll be able to go for vat reclaim as soon as you sell goods in the local market at prevailing vat rates. However, before you start selling your goods and charging vat on the 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, even though you will have 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 don’t follow vat. Each EU country has been assigned a particular 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 a vat invoice.
If you want 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 in addition to eu vat rules. This will likely allow you to file your vat returns correctly and within the stipulated time frame whilst doing the same when claiming vat refunds in the country of origin. It is also imperative that you 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 could be different within these eu countries, the fact that they all 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 to the UK or in some 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 definitely reclaim vat back.