Many businesses have significant VAT potential, bringing
with it a wealth of opportunities and advantages. However, due to the seemingly
complex nature of the VAT refund process, many
businesses find themselves sitting on the sidelines, watching their competitors
take the lead.
Fortunately, that doesn't have to be the case for your
business. With our VAT expert by your side helping you with the winning
strategy, your business can master VAT recovery without draining your
resources. Here’s what’s in store for your business as it maximizes its VAT
potential.
Can your business claim VAT?
If the benefits of VAT are so significant, why are millions
in savings still slipping through the cracks each year? Well, one of the major
reasons isn’t that VAT recovery is too complex, but rather that many businesses
aren’t aware of their VAT potential or the plethora of hidden VAT recovery
opportunities. With that said, before diving into the benefits, it’s imperative
that each business discover their unique VAT potential within the domestic and
foreign recovery space. This can feel
especially tricky to navigate within the international VAT reclaim space.
However, with the help of our VAT IT foreign recovery experts, businesses can
effortlessly administer and maximize their foreign VAT reclaim opportunities.
Improved cash flow
Successful VAT claims can have a significant positive impact
on a company’s cash flow. By recovering the VAT portion incurred on eligible
business expenses, a business can drastically reduce its cost base. The
much-needed boost in liquidity that VAT refunds give, allows businesses to
effectively allocate resources more effectively and alleviates any financial
strain due to cash flow problems, effectively accelerating growth and business.
Boost business travel
Successful VAT refunds can encourage business travel and
tourism. This is possible not only as a result of the cash flow injection, but
because of the recovery opportunity within travel and entertainment expenses.
Many countries have special foreign VAT recovery schemes, allowing non-resident
businesses to reclaim VAT on certain expenses related to their T & E.
Fiscal transparency and accountability
As businesses start optimizing their VAT processes, refund
mechanisms start to improve. With this comes greater financial transparency and
accountability. In other words, VAT recovery processes and well documented
refunds can encourage greater financial visibility, allowing greater
inter-departmental alignment and insights from a leadership level.
Reap VAT benefits with VAT IT
Now, although the benefits of successful (and easy) VAT
refunds may have a significant impact on your business, where do you start?
We’ve got your (re)covered. Yes - VAT feels like a full-time job, but that
doesn’t mean it has to be yours. At VAT IT, we help businesses reclaim their
VAT, time, and resources in one fell swoop with one centralized solution for
all your VAT needs. If you’re ready to start reaping the benefits of VAT
refunds without the risk, our starter-kit business guide on Claiming VAT goes through the fundamental
basics of optimizing your VAT processes and maximizing your refund yield.
Alternatively, get in touch with us - we’d love to hear from you and discuss
how we can help you tap into a well of revenue through VAT recovery.
