Introduction to VAT Recovery
VAT (Value Added Tax), is a tax that is charged on most business transactions in the European Union. Businesses add VAT to the price they charge when they provide goods and services to both business customers and final consumers. Business customers are entitled to recover the VAT they pay on their purchases in most cases. VAT sticks as a tax when charged to final consumers, in a similar way that sales tax is payable by consumers in the USA.
Generally speaking if VAT charged to a domestic business is recoverable, it is also recoverable when paid by a business based in a foreign country.
VAT has different names depending on the language of the country in which the business is based, but it is the same tax. There are many rates of VAT imposed on different goods and services by all the countries that charge VAT.
There are also some goods and services that are either exempt from VAT, for example the export of goods, or outside the scope of VAT.
In many countries VAT raises a high proportion of a government’s revenue.
The main items of expenditure on which VAT is recoverable by foreign businesses are indicated on our VAT Guidelines. You may download a copy of the Guidelines by clicking on the appropriate link.
To reclaim your VAT for you we will need the original invoices (these can be returned to you following processing) and a simple application form. If you are outside the EU, we will also need a form from your local taxing authority showing you are a business. Quipsound will handle all the paperwork for you; deal with questions raised by the tax authorities and get your refund to you in the shortest possible time. We are confident enough in our abilities to provide our services on a contingency fee basis.