User Login

VAT Rates Updated, Estimated Cost Savings

Monday, August 25, 2014

VAT rates for over 20 countries have been updated (mostly due to increases) to reflect the most current information available. We post these rates to help illustrate the cost savings of using an ATA Carnet.

For example, below is the savings using an ATA Carnet to clear customs with a $21,540 medical device in the U.K. The VAT rate is 20% and the estimated duty rate is 3%. Savings are approximately $4500 for a single use of the ATA Carnet to the U.K. If the carnet were to be used multiple times, the savings increase accordingly. While VAT refunds may be cost-effective in many cases (especially for services), the ATA Carnet can be a preferred option when shipping temporarily.

For more information about VAT refunds, contact the experts at Euro-VAT Refund, Inc. They are highly knowledgeable and can guide you through the process of Value-Added Tax management, registration and refund.

Temporary Export of a Medical Device to the U.K. - 20% VAT Rate - 3% Duty Rate