Until now, most companies, especially SMEs, have not recovered foreign VAT on travel expenses that are recoverable (hotels, restaurants, car rentals, etc.). It is estimated that every year, nearly 6 billion euros of VAT are not recovered by companies with expenses in other European countries.
Why ?
- Invoices are not drawn up correctly
- Companies don't know if they can recover these costs, in which countries and how.
- Specific manual procedure, tedious and often fraught with pitfalls (requests for information from administrations, specific portals, etc.).
- Deadline and form of submission
- Language problems when communicating with the tax authorities in the country where the expenses were incurred
Vatecure has decided to tackle the problem and not only offer companies the chance to reclaim as much foreign VAT as possible, but also to offer immediate VAT refunds instead of waiting up to a year for the authorities to refund you.