Unlocking hidden opportunities with VAT reclaim
It’s more important than ever that companies take a strategic approach to managing resources. Focusing on revenue-generating activities and tightening budget is always possible. The good news is that sometimes a forced re-focus brings opportunities to discover hidden savings.
Value Added Tax: Receive money back into your company’s bottom line
A majority of companies are unaware of how much money they can reclaim from travel expenses and company invoices. The difficulty of applying for a refund means that many companies are missing out on money they are entitled to. Travel expenses represent a significant part of a company’s budget, usually up to 20%. With VAT rates of up to 27% thus offer a large repayment potential.
Thanks to our partnership with SAP Concur, we can quickly and easily reclaim your VAT and boost your bottom line. As the leader in digital solutions for travel, expense and invoice, SAP Concur automates the entire spend management process, eliminating manual efforts and giving you full visibility into company spend. Together with our automated solutions for VAT recovery, we can increase your cash flow while maintaining full compliance.
How it works
Through our innovative VATConnect™ platform which integrates seamlessly with SAP Concur, Taxback International can access your spend data and images. Using this information we calculate your VAT reclaim potential and then automate the entire VAT reclaim process so you can avail of your VAT refunds immediately on all past and present spend.
We can also reclaim VAT on all your historic domestic travel and entertainment expenses- in some cases recovering up to 5 years’ worth of VAT with very little effort on your part. The backdated figures for the Nordics is as follows: Sweden 5 years, Denmark 3 years, Finland 3 years, Norway 3 years and Iceland 6 years.