EU VAT Refunds

Many businesses incur VAT in the EU and most are aware that VAT can be recovered.

But in Europe’s austerity environment, where tax authorities are keen to hold onto revenue, and can penalise where claims are made incorrectly, it is vital to understand the nature of VAT transactions if refunds are to be obtained.

International businesses may be incurring a large amount of EU VAT in a number of areas, including:

  • Domestic supplies of goods where they are unable to obtain a local VAT number because of how the extended reverse charge applies
  • Land related services
  • Tooling charges
  • Events, conferences and exhibitions
  • Travel and expenses

Reforms to the EU refund system introduced in 2010 were intended to make some of the administrative aspects of recovering VAT less onerous. But, at the same time, responsibility for claim accuracy on the part of businesses was greatly increased. Tax authorities managing austerity budgets will critically review larger Accounts Payable claims, leading to situations where companies have been denied millions of euros of VAT for what might seem inconsequential errors.

Accordance: Claim Security through Analysis

Where VAT has been charged incorrectly throughout the supply chain of their business, companies run the risk of tax authorities rejecting their claims. Therefore, it is important that businesses make sure VAT has been charged correctly in the first place.

Accordance VAT Recovery services include:

  • Consultant supervised procedures
  • Invoice reviews
  • Full VAT claim processing and submission service
  • Post submission support