Accounts Payable Invoices from foreign suppliers attract significant foreign VAT charges which is often refundable. Many businesses miss this VAT refund as the VAT recovery process can be complex. That’s where Taxback International can help.
Taxback International are experts in AP VAT Recovery! Did you know that $30 billion in VAT goes unclaimed each year? AP Invoices from many activities and purchases abroad often contain VAT, which is recoverable from the relevant tax offices.
We have in-depth knowledge of local VAT and supply VAT rules, which streamlines the refund process and eliminates missed opportunities.
Due to a lack of knowledge on cross border tax legislations, many suppliers often incorrectly charge VAT to their foreign clients. This incorrectly charged VAT is also recoverable directly from the supplier, however many companies do not have the inhouse expertise to identify these charges.
IT Service Providers / Telecoms companies
Manufacturing and Production companies
Retail / Consumer Goods companies
Industrial equipment / construction companies
Your company is eligible to recover VAT on Accounts Payable invoices in eight business spend categories:
VAT Recovery is available on fixtures, injection moulding gauges, cutting equipment and patterns. VAT on tooling can add up to 27% to production costs.
VAT Reclaim is available on installation of machinery, infrastructure, and pipelines.
VAT Recovery is available on premises rental, infrastructure expenses such as storage and data centres and technical support office.
VAT Recovery is available on services provided by Engineers, consultants, lawyers, real estate agencies etc and maintenance/management fees.
VAT Recovery is available on Venue hire for training or events, restaurant/catering costs and transport abroad in relation to training or events.
VAT Reclaim is available Meetings, incentives, conferences and events (MICE), these include packaged foreign travel expenses, accommodation, car hire and flights.
VAT Recovery is available on Mineral & oil tax for fuel costs, passenger aviation tax compliance costs, fuel invoice costs, corporate plane repairs or maintenance.
VAT Recovery is available on Warranty parts shipped overseas, goods purchased for manufacturing projects overseas, goods shipped overseas and DDP shipping (Delivery Duty Paid).