Foreign VAT Recovery
VAT is levied on invoices from foreign suppliers for services such as trade shows, training or seminars. VAT is always levied on employees’ expenses when travelling abroad.
According to European Directives, businesses have the right to reclaim such VAT from the tax administration of the country in which it was paid. Such recovery is currently possible in more than 35 countries across Europe and worldwide.
Since January 1st, 2010, EU companies have the possibility to submit their foreign VAT refund reclaims from their own country’s authorities’ website. Despite this apparent simplification of the procedure, the EU claims still have to fulfill each Member State’s requirements and have to be followed up directly with the foreign administration.
Furthermore, non-EU claims must be submitted directly to the foreign administration.
Due to the barrier of foreign languages and different national VAT legislations, the recovery process can be complicated.
VAT Systems’ close relationship with the competent tax authorities gives us valuable insight into the recovery requirements in each individual country.
VAT Systems performs a technical analysis of all invoices in accordance with the requirements of the respective VAT legislation and has a controlled procedure of invoice correction for accounts payable and employee expenses.
VAT Systems provides online reporting for groups and individual companies, with a detailed overview of all claimed and refunded VAT amounts, as well as access to a downloadable listing of processed invoices.
Our fees for tax recovery services are a percentage of the savings we have achieved for our clients on a no-win-no-pay basis.
- Audit of accounts and retrieval of original invoices
- Analysis of the expenses and restyling of non-compliant invoices
- Preparation and filing of VAT refund claims
- Follow-up of claims
- Refund of VAT
- Indirect Tax Compliance
- VAT Optimization
- VAT Audits
- Tax Recovery
- Other Services