VAT Consultancy
Taxback International’s experienced VAT Consultants provide practical VAT advice and training on a multitude of issues specific to your business needs.
We offer a wide range of VAT services.
Taxback International’s experienced VAT Consultants provide practical VAT advice and training on a multitude of issues specific to your business needs.
68% of businesses have errors in supplier invoices leaving them open to risk and fraud.
Taxback International create and perform a range of tailored end to end, forensic audits and compliance services to identify process gaps and recover overpaid VAT to minimise the risk of regulatory issues and penalties for your business. We then work with clients to understand how the errors occurred to minimise the risk of future errors.
AP invoices from foreign suppliers attract significant foreign VAT charges, which is often refundable. However, the reclaim process is complex, leading many businesses to miss VAT refunds.
Consistent receipt auditing safeguards your business in the event of a tax audit, and helps to ensure that employees are adhering to expense policies. Research shows that as much as 10% of total expense spend is lost due to errors and a further 10% can be lost to exaggerated expense claims. Our receipt auditing services help you manage the risk associated with travel and expense transactions while maximizing VAT reclaim.
Storage management with Taxback International delivers guaranteed compliance and full visibility into all your transactions in storage.
Our storage and archiving services provide an audit trail back to your expense management and accounting systems, with easy traceability based on 12 data parameters in each transaction.
Benefit in kind is any non-cash benefit that you provide for your employees. If your employees earn over a specific threshold, taxes must be paid on any additional benefits such as gifts, cash bonuses, winnings from contests, etc.
Our VATConnect platform helps you maintain compliance by automatically analyzing all data for transactions subject to Benefit in Kind, setting allowances and delivering a Benefit in Kind compliant report in advance of the monthly reporting deadlines.
If you’re a Not for Profit organization or Higher Education institution and you’re paying Sales & Use Tax, we can help recover this tax going back up to 4 years. VATConnect Integrations automatically reviews all data from your expense management systems to determine your potential savings in each state and gain visibility into where recovery can be maximized.
The United States Tax Cuts and Jobs Act (TCJA) updated the rules for deductions on expenses related to meals and entertainment, making it more complex to understand which expenses are deductible. With meals and entertainment contributing up to 22% of a company’s total travel budget, this can add up to huge headaches and significant potential for either savings or penalties.
VATConnect automatically isolates all meals and entertainment expenses and provides an itemized, transaction-based report of all transactions that are tax deductible- keeping you compliant and ensuring you get the full benefit of your deductions.