Quote:
Originally Posted by BigFurry
So you are exempt from paying VAT (below the annual limit) - but at the same time got a European VAT ID to be able to do B2B in the EU properly.
Yep, works similarly in some other EU countries too.
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Yep, and the irony none of accountants which i asked about it had a clue about it, including company which i used for dealing with papers and accountant which i use currently.
I think it's due fact how when dealing with EU companies it's not VAT deduction, but VAT auto-deduction, so if someone would charge me VAT on invoice i wouldn’t be able to deduct, unless it wasn’t been included in invoice at all, ie. auto-deducted.