VAT on AP Invoices can represent 25% of your project costs – start reclaiming it today.
7th November 2019: Did you know average 70 of supplier invoices are charged VAT incorrectly. [Free Webinar]
The VAT on AP (Accounts Payable) invoices can represent up to 25% of the costs of your projects abroad. So, when you hear that on average 70% of those supplier invoices are charging VAT incorrectly – alarm bells should start ringing!
Not only are these invoices at risk of being charged incorrectly, but with cross-border VAT transactions requiring detailed knowledge of local VAT, rules & deadlines constantly changing and reclaiming this VAT being so time-consuming – you can easily see why VAT on AP invoices is complex.
Stop paying incorrectly charged VAT on foreign AP invoices.
Thanks to Taxback International VATConnect™ and SAP Concur, we can make reclaiming VAT on AP invoices simple. Taxback International integrates directly with Concur Invoice, through VATConnect Invoice which sits in the SAP Concur App Centre.
VATConnect Invoice is a complete solution that includes:
- AP Planning: Consultancy on the correct way to handle foreign VAT on projects abroad considering the full place of supply roadmap for each project
- AP Screening: Check all invoices to identify incorrectly charged VAT, resulting in cash-flow optimisation by not paying VAT where it is not due
- VAT Reclaim: Correctly charged VAT is recovered via tax office application. The incorrectly charged VAT is recovered from suppliers.
Taxback International and SAP Concur save your team time, drives smarter savings and improves visibility.
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VAT rate changes 2020.
24 January 2020: Canary Island, Germany, Czech Republic, Ireland and Italy are some of the countries to be impacted by VAT changes in 2020.
Italy: VAT group update for non-resident companies.
24th January 2020: Non-resident Italian entities with non-taxable activities can be part of a VAT group.
Explore Seattle with Taxback International: SAP Concur Ignite 2020
20th January 2020: Take a look at what Seattle has to offer!