June 30 Approaches: Have You Filed to Reclaim VAT?
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VAT recovery can save companies significant travel costs, but complex processes and constantly changing regulations deter many. For companies with international travel, using automated tools to integrate T&E data and connect with specialized VAT recovery providers may significantly improve recovery rates and directly…
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- SAP Concur BlogJune 30 Approaches: Have You Filed to Reclaim VAT?
A SAP Concur blog post reminds companies that travel and expense is the second largest annual budget item after payroll, and a significant portion may be recoverable through Value Added Tax (VAT) reclaims. VAT recovery is possible in more than 40 countries, but the process is complex and time-consuming. An OECD survey found that over 70% of businesses found reclaim procedures difficult to navigate, and 20% were unable to recover any VAT. The article recommends simplifying the process through integrated solutions in the SAP Concur App Center.