If you're a vat registered dealer or manufacturer in the United Kingdom or any other EU country then you must ensure to fulfill all conditions while claiming vat back. Your claim may help offset any expenses directly related to the business or help reduce costs on products imported from another country in which you have already paid VAT.
VAT or value added tax is a system of collecting taxes that has been implemented in several countries all over the world including the European Union. It assists to avoid double taxation on products and if you're a vat registered trader within the EU having a official vat number then you can surely reclaim any VAT that has recently been paid while importing goods imported checkvatnumber.com to your own country. However, you have to fulfill all conditions and terms imposed by the customs and excise customs vat department throughout your home country before you reclaim vat successfully from the country of origin.
If you're not conversant with vat rules imposed throughout your home country then you should hire a vat consultant or tax consultant that's amply trained with the latest amendments in vat tax, vat rates, and also knows the correct vat refund procedures to be followed while applying for a vat refund. There are several factors that can qualify you to get a vat reclaim. If you have imported goods or services from another EU country where vat has already been paid you'll be able to reclaim that vat amount provided you do not own a house or business in the country, aren't vat registered in the country, and do not supply to this country. However, it is advisable to fully comprehend each rule in great detail before claiming vat back as there are other sub-sections in each rule that need to be fulfilled too.
You can reclaim vat on import vat if there's been vat paid in another country by utilizing vat online services to sign up yourself first. If you're in the UK then once you register with hmrc vat online services you will then be in a position to post your obtain your vat reclaim either directly or through your vat agent. You need to send all related documents as proof for claiming vat back and you'll also need to be conversant with vat rules in the country or countries where the vat amounts have originally been paid.
There's also a time frame of nine months following end of the calendar year within that you would need to apply for a vat claim in UK even though time period will vary in other European countries. You'll need to be careful while completing your vat claim since most EU countries do much more than frown on incorrect or fraudulent claims. You may be penalized for a wrong claim or might also be denied any refunds.
A vat claim can help reduce your vat burden provided you meet all the criteria applicable in your own country as well as the country where you may have originally paid the vat amount. However, it is important to study each vat rule in great detail and understand its implications before claiming vat back directly or through your agent.