If you are a vat registered dealer or manufacturer in the UK or other EU country then you must ensure to satisfy all conditions while claiming vat back. Your claim may help offset any expenses proportional to your business or help reduce costs on products imported from another country in which you have previously paid VAT.
VAT or value added tax is a system of collecting taxes which has been implemented in several countries all over the world including the European Union. It helps to avoid double taxation on products and if you're a vat registered trader within the EU having a official vat number you'll be able to surely claim back any VAT that has recently been checkvatnumber paid while importing goods imported to your own country. However, you have to fulfill all terms and conditions imposed by the customs and excise customs vat department throughout your home country before you can reclaim vat successfully from the country of origin.
If you're not conversant with vat rules imposed in your own country then you should hire a vat consultant or tax consultant that is well versed with all the latest amendments in vat tax, vat rates, and in addition knows the appropriate vat refund procedures to be followed while applying for a vat refund. There are numerous factors that can qualify you for a vat reclaim. If you have imported services or goods from another EU country where vat has been paid you'll be able to reclaim that vat amount provided you do not own a home or business in the country, aren't vat registered in that country, and do not supply to that country. However, it is advisable to fully comprehend each rule in great detail before claiming vat back since there are other sub-sections in each rule that should be fulfilled too.
You'll be able to reclaim vat on import vat if there's been vat paid overseas by utilizing vat online services to register yourself first. If you are in the United Kingdom then when you register with hmrc vat online services you will then be in a position to post your request for your vat reclaim either directly or using 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 nation or countries in which the vat amounts have originally been paid.
There is also a time frame of nine months after the end of the calendar year within that you will have to apply for a vat claim in UK although the time limit will change in other European countries. You will also need to be careful while filling out your vat claim since most EU countries do much more than frown on incorrect or fraudulent claims. You could be penalized for a wrong claim or may also be denied any refunds.
A vat claim will help lower your vat burden provided you meet all the required criteria applicable throughout your home country as well as the country in which you might 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.