Automated EU VAT reclaim solution Receive your money faster with no hassle! vattax.com +45 3115 8886 sales@vattax.com
vattax Reclaim succes 100% 90% Is your company reclaiming EU VAT from business trips? If yes, then you will know that the EU VAT reclaim process is time-consuming and complicated. Each EU country has its own complex local VAT rules on what can be reclaimed. Expenses: 20 The administrative burden in obtaining the EU VAT reclaim usually outweighs the benefits and most companies end up not reclaiming the EU VAT amounts over time, this adds up to a lot of money. Up to 20% of your travel expenses in EU is VAT and it is estimated, that up to 80% of the EU VAT amounts in Europe are not reclaimed. vattax has, in cooperation with PwC, developed a real-time solution that takes the hassle out of reclaiming EU VAT. Vattax integrates your corporate payment card with a mobile app allowing you to complete your travel expense report quickly and at the same time helps collect the required data for the EU VAT reclaim application. Expenses from business trips like hotel accommodation, restaurants, taxis and car rentals include EU VAT. vattax helps you reclaim the EU VAT faster up to 20 % of your travel expenses can be reclaimed!
Get started fast! Order your corporate credit card Download and install the app Corporate credit card and app is already connected When you travel: Use your credit card to pay for expenses during your business trip Take a photo of the expense receipt Answer a few easy questions in the app Submit the expense for approval You re done! It is as easy as 1..2..3... Pay by card, use the app and you re done with both your expense report and the EU VAT reclaim! This is a real-time solution. As soon as the payment is processed, the transaction is received in both the mobile app and the administration system. Data quality is extremely high and always up to date, as the user can respond immediately following the payment. vattax saves you a considerable amount of time and effort. No more lost receipts or spreadsheets to be completed and as all data is collected on the go, you are ready to reclaim EU VAT.
How it works for the finance department: Your finance department has access to all transactions in real-time. If there is a need to create expenses for EU VAT refunds, this can also be done manually by the finance department. The real-time overview means, that you get no surprises caused by overdue or unsubmitted travel expense reports! The finance department approves the application for EU VAT refund when it is ready. vattax, in cooperation with PwC, handles the rest. vattax collects all your approved transactions and sorts the data in the format that the local tax authorities demand. Through modern robot technology, vattax and PwC electronically deliver all data to the relevant IT systems. No manual processes fewer data errors and malfunctions. Through its global network of branches, PwC provides all the necessary knowledge about the legislation in each country. This ensures that everything is correct and that the refund can be paid as soon as possible.
vattax is part of a product suite vattax is unique because everything works together. The corporate credit card, the app, the travel expense and card management solution, the company accounting system and the EU VAT refund. We have ensured the integration and data will automatically move from one system to the next. Data is only entered once, and validation between systems is not necessary any more. When the user completes the travel expense reporting in the mobile app, the TEM solution (online administration system) makes it possible to handle the end-to-end expense approval process and allows for direct integration with your ERP system. vattax requires no complicated installations - everything runs safely in the cloud. The company saves money and the employee saves time. Contact Carsten Petry for more information: +45 42765627 cp@vattax.com The solution is delivered in cooperation with selected card issuers. For refund Open Approved Submited vattax.com +45 3115 8886 sales@vattax.com
Prices & Terms How much does it cost? How will you receive your money? The yearly subscription fee per company is EUR 150. vattax will charge a fee of 20% of the VAT refund. The fee will be reduced to 15% for any VAT refund in excess of EUR 15.000 on an annual basis. All prices are excl. VAT. For more information, please contact: Carsten Petry +45 42 76 56 27 cp@vattax.com vattax applies to the local tax authorities for the reimbursement per company per EU country. The local tax authorities in each EU country reimburse the VAT reclaimed per company to your account at vattax. Every quarter, vattax calculates the total payment to the company for all countries that EU VAT have been received from. vattax reclaims DKK 220.000 VAT for your company Your company receives DKK 181.000 in total 20.000 100.000 85% 102.000 100.000 80% 79.000 Terms & conditions An agreement is made regarding the use and payment of payment cards directly with the card issuer. To use vattax an agreement is made with vattax. This agreement includes the client giving vattax and PwC access to relevant tools at the local tax authorities on behalf of the company to enable uploading and submission of EU VAT reclaims. It also states that the company gives vattax power of attorney to apply for EU VAT reclaims in every EU country on the company ś behalf and it entitles vattax to have the reclaimed EU VAT paid to the client s account at Vattax.
How much can be refunded? Example: We have done some calculations. Four employees are on a business trip with three nights in respectively England, Germany, Norway, Sweden, Holland and Belgium. Below are the experiential costs in selected areas, and we have made a total calculation of the VAT refunded in each country. In these cases, up to 20% of these travel expenses will be refunded. Potentially accounting for a lot of money. Number of employees... 4 Number of overnigth stays... 3 Number of meals... 24 *All figures are in EURO Type of purchase Amount in EUR GB DE NO SE NL BE Accomodation 1600 EUR 20% / 320 7% / 112 10% / 160 12% / 192 6% / 96 6% / 96 Car Rental 675 EUR 20% / 135 19% / 128 25% / 169 25% / 169 21% / 142 21% / 142 Restaurant 975 EUR 20% / 195 19% / 185 15% / 146 12% / 117 6% / 59 3% / 29 Taxi 200 EUR 20% / 40 7% / 14 10% / 20 6% / 12 6% / 12 6% / 12 Fuel 125 EUR 20% / 25 19% / 24 25% / 31 25% / 31 21% / 26 21% / 26 Parking 80 EUR 20% / 16 19% / 15 25% / 20 25% / 20 21% / 17 21% / 17 Road Toll 15 EUR 0% / 0 0% / 0 0% / 0 25% / 4 0% / 0 21% / 3 Conference and Fairs 150 EUR 20% / 30 19% / 30 25% / 38 25% / 38 21% / 32 21% / 32 VAT return in EUR 761 508 584 582 383 357 vattax.com +45 3115 8886 sales@vattax.com