Companies operating within the Oil and Gas sector face significant tax liabilities given the size and scope of their operations.
The scope of oil and gas services are vast. From drilling services, leasing of ships, pipeline installation/maintenance, to warehousing services, spend within the industry can be astronomical. But corporations are now beginning to realise the true value VAT reclaim can add to their bottom line.
‘Upstream’ exploration and production activities, and ‘downstream’ marketing activities all incur a huge volume of travel and expense spend including travel, hotels, meals, fuel and transport.
Taxback International use our integrated VAT reclaim software to automatically review every single travel expense – so our clients don’t have to. Our robust expense reporting provides visibility into total travel spend and VAT potential, providing insights to ensure VAT compliance for future travel.
At Taxback International, we have a dedicated international VAT research team, ensuring our knowledge of EU and non-EU VAT laws and regulations is second-to-none. As leaders in the VAT market, Taxback International are able to assess spend data for companies operating within the oil and gas sector, ensuring that all eligible VAT is reclaimed.
Kuwait Petroleum Corporation.
Taxback International can help
- Rules and regulations are always changing- we are experts in the field of VAT.
- We organize, audit, submit, and keep a file of all your invoices – saving you time and resources.
- If you are not submitting now- the tax offices are keeping your refund.
Contact Johanna Waara for more information today.
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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