Some may know, some may not – with just over a month to go, there is a claim deadline approaching on September 30th 2018. This is for 2008/09/EC claims, which was formerly known as 8th directive claims. It is an important date for your diary and there are a few things to bear in mind – if you miss the deadline late submissions are not accepted across the board. It is important not to leave submission of your claims till the last minute in the event any issues arise, VAT4U can help you with this process from start to finish, often at the click of a button…
Things to remember
Directive 2008/09/EC relates to foreign VAT recovery for EU companies from EU member states, this is often referred to as EU to EU. The process involves a taxable company established in one EU Member State attempting to reclaim VAT from the EU Member State of Refund through an electronic portal, this is provided by their own tax administration in the Member State of Establishment. There are a few things to bear in mind, as mentioned. What happens if you miss the deadline is simple, you cannot claim for the period in question, meaning you lose the potential gains from your VAT refund. Likewise, there are no extensions or corrections granted after the deadline upon submission. Don’t forget to check your data and invoices, as incorrect data can lead to penalties or rejections. Each country handles this process differently with some being more strict and thorough than others. Attachment of invoices are also required in some countries. Keep in mind the differing legislation – why not get in touch with us if you have a question, we will be happy to get you back on track!
How does it work with VAT4U?
The process of preparing, generating & sending your claims with VAT4U couldn’t be easier, it’s often as simple as 1, 2, 3, 4, 5! From data entry, to expense management, to processing and managing all of your VAT claims – our solution allows for all of this to done, fully automated! The process is simple:
1. REGISTER FOR FREE
VAT4U is free to sign up and trial, it takes just 3 minutes to get started and you won’t encounter any fees until you send a VAT refund claim!
2. EXPENSES FROM BUSINESS TRIPS
During the process throughout the year, you gather both travel and expense documents, as well as supplier invoices – this could be a huge amount of VAT.
3. ADD EXPENSES TO VAT4U
The next step is to add your expenses to VAT4U, you can do this manually, or our import/export connectors allow mass data. VAT4U then shows your refund potential.
4. PREPARE & SEND VAT REFUND CLAIMS
During this step VAT4U analyses your data for inaccuracies & compliance, after smart checks are complete you can submit your claim often at the click of a button.
5. GET YOUR VAT BACK
Once the relevant Tax Administration has approved your VAT refund claim, the money will be refunded to you with the VAT4U service fee deducted! Easy as 1, 2, 3, 4, 5!
How can VAT4U help? If you have problems with this process due to time constraints, why not shift your invoices to us. We even have different service levels (BASIC, SILVER & GOLD), ensuring you can manage your claims in a way that suits your organisation best. But be quick – and be realistic, with just over a month to go there are limitations to what can be processed!
VAT4U is the very first European platform that helps everyone automatically refund their VAT and manage their travel expenses. It offers the first automated online VAT refund platform, assisting companies to reclaim their value-added tax abroad…
Every year, more than 10 billion Euros are lost by companies internationally because they are not recovering Value Added Tax on their foreign expenses. VAT4U, Europe’s first & leading automated VAT refund platform, is the ultimate online solution that effectively manages and automates foreign VAT recovery. It changes the way people reclaim their VAT by transforming the complex process of VAT recovery into a cost-effective, user-friendly online solution. VAT4U continues to simplify every user’s travel expense management process and effectively automate their VAT recovery.
Want to learn more about how VAT4U can help you? Why not get in touch.