20 Billion is left unclaimed in Foreign VAT every year - Time for change.

VAT-IT.png

You Have Millions of Euros to Spare, Right?

If someone told you that your company has thousands or even millions of Euros to spare, you’d probably call them nuts. What if we told you that they would be right? Or, at least, right in most cases.

Twenty BILLION euros is the amount of money that is left on the table when you consider unclaimed foreign VAT for travel and foreign services every single year.

Let’s put that into perspective. The Republic of Croatia is planning to spend 14 billion Euros in 2016 – in total! That means building roads, schools, hospital, and more and paying out monthly pensions to more than one million retired people.

Companies around the world leave roughly half that amount in other people’s pockets every year. Now, are we all really that rich? Of course not!

That is why we are proud to announce that Xpenditure is entering into a partnership with VAT IT – a company that is an international leader in domestic and foreign VAT and tax recovery.

VAT IT has years of experience in maximizing tax recovery end-to-end thanks to their cutting-edge, proprietary technology that ensures full compliance with every imaginable international rule and regulation.

Why leave anything to chance when you can work with the best?

That’s what we thought, so we joined forces with VAT IT and became one of their 8,000 clients in over 100 countries of the world. By extension, every Xpenditure user gets to reap the benefits of this cooperation!

What this means for you as an Xpenditure user:

  • Easier reclamation of VAT on both foreign and domestic travel expenses
  • Easier reclamation of VAT on services from foreign suppliers

VAT IT has helped thousands of companies, ranging from SMBs to multi-national corporations, reclaim their VAT and claim back their money.

Companies who grapple with it alone are fully aware of how messy the entire process can get– did you know that a hot sandwich has a different tax rate when compared with a cold sandwich? And that is in the UK alone!

The foreign VAT reclamation process is complex and multifaceted, especially when you add in the amount of back and forth administration and VAT office queries – most of the time in several different languages! Often, it doesn’t really seem worth it. Not to mention the VAT when selling digital products and services.

But it is worth it! Xpenditure’s partnership with VAT IT will enable businesses to reclaim VAT associated with travel and foreign services easily and efficiently.

This can potentially significantly reduce your operating costs, especially if you and your employees travel abroad a lot, visiting conferences, seminars, and attending meetings.

 

XPD-VAT-Infographic

For more information about how much this partnership can benefit you, please contact us. Ask for Delphine – she will get you up to speed in no time!

 

 

Delphine Callens

Posted by Delphine Callens

In 2012 Delphine started her career at Deloitte Belgium, where she worked as an accounting consultant. In August 2014 she joined the Xpediture sales team as US Country Manager and right now she's our Business Development Manager.

Curated content in your email every month

Newer posts