Mwst erhoehung | Umrechnungsfaktor Mwst | EEC VAT Reclaim and Recovery. What is VAT?

BRVAT provides details of reclaiming VAT. VAT advice and planning services are available to businesses throughout the U.K., Europe and for non EEC companies. EEC VAT Reclaim and Recovery

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What is VAT? VAT is also known as MwSt, TVA, IVA, GST, BTW, Moms, VSK and AVL

Definition

VAT (Value Added Tax) is a general tax, imposed on consumption of goods and services in all European countries as well as numerous countries worldwide. In other European countries it is also know as MwSt (Mehrwertsteuer) in Germany, Austria and Switzerland, TVA (Taxe sur la Valeur Ajoutée) in France, Belgium and Luxembourg, IVA (Impuesto sobre el Valor Añadido / Imposta sul Valore Aggiunto / Imposto sobre o Valor Acrescentado) in Spain, Italy and Portugal, GST (Goods and Services Tax) in Canada, BTW (Belasting op de Toegevoegde Waarde / Belasting over de Toegevoegde Waarde) in The Netherlands and Belgium, Moms (Mervärdesskatt / Merverdiavgift / Mervœrdiafgift) in Sweden, Norway and Denmark, VSK (Virðisaukaskatts) in Greece and AVL (Arvonlisäveron) in Finland.

VAT is, generally, a deductable or refundable tax.

Why VAT is recoverable

To encourage international trade, legislation was adopted by the European Union (8th Directive in 1979 and 13th Directive in 1986) which provides an opportunity for foreign entities to reclaim VAT on certain European business expense.

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Canada implemented a similar scheme in 1996 to allow foreign business to reclaim GST paid on hotel and, in certain instances, on organising of business events. Some other countries around the world are also contemplating introduction of similar schemes.

Why should I reclaim VAT?

Employees travel expenses are the third largest controllable corporate expense. With VAT rates of up to 25% recovery can potentially run into thousands of pounds for many companies. Unfortunately, VAT often is left unclaimed, as many companies write VAT expenses off as costs, leaving you unaware of your real VAT reclaim potential.

Each member state within the EU, and some outside, have passed their own tax laws relating to VAT reclaim. These vary depending on the country and can be confusing, especially with different languages and complex legal interpretations to consider. BR VAT Reclaim will do the work on your behalf minimising the burden on your internal resources and leaving you to concentrate on the core of your business.