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SAP Concur Explains VAT Reclaim: 54% of VAT Goes Unclaimed

1reports1reporting sources2022-06-29Update

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VAT reclaim is an often-overlooked fund recovery opportunity in cross-border travel and procurement. For finance and travel managers, understanding the reclaim process and automation tools helps recover entitled funds and reduce compliance risk.

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6月29日
  1. SAP Concur Blog
    SAP Concur Explains VAT Reclaim: 54% of VAT Goes Unclaimed

    SAP Concur published an article explaining the Value Added Tax (VAT) reclaim process. It notes that due to complex and country-specific rules, companies often do not claim entitled VAT refunds, with 54% of VAT going unclaimed. The article recommends solutions that automatically identify eligible transactions, enrich transaction data, and confirm recoverable amounts, while warning that manual processes can lead to significant regulatory and financial penalties.