You could be missing out on a huge cash saving!
Even when companies are aware that Import VAT is reclaimable, they are often unsure how to recover!
Bringing goods into a country usually attracts varying levels of customs, duties and taxes. All of which can be complex, detailed and involve a lot of time and work to get right. VAT expenses on importation are lost daily, as carriers often pass on these taxes directly to their clients, making them pay the burden. In many cases, clients are not aware of the correct paperwork or criteria required to reclaim this VAT.
In fact, where Import VAT is applied, it is generally recoverable with other VAT - up to 27%.
Import VAT is applicable on the value of the goods, not the shipping cost – so it can be as high as 27% on top of the items. Where no or few controls are in place, this VAT often becomes an unseen cost in many organisations.
Why Taxback International?
Taxback International works with you and your carriers to ensure paperwork is correct in order to reduce VAT costs and ensure optimised VAT recovery. With Taxback International, we ensure you receive:
- Expert advice on Import VAT reclaim,
- Advice on documentation to assist VAT reclaims,
- Review importation documentation,
- Import VAT savings,
- Satisfaction that all relevant follow-ups are completed,
- Import VAT refunds,
- Import VAT compliance checks.
Let Taxback International help you overcome VAT complexity - get in touch and we can start your reclaim.
We know that Indirect taxes such as VAT and GST can have a huge effect on your business. As VAT rates change sporadically keeping yourself informed can be difficult. Compliance is always crucial. That’s why our Indirect Tax Experts share their hand-picked news stories every day that you need to know. From breaking news to VAT changes and new EU legislation. We know that relevant information means better decision making. We aim to be your number 1 source for VAT and GST news.
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