Simplifying VAT Reclaim for T&E Program Resilience
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For multinational companies, VAT reclaim is a significant source of hard savings in travel expenses. Process complexity and non-compliant invoices lead to substantial unclaimed VAT; automation can help improve recovery rates.
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- SAP Concur BlogSimplifying VAT Reclaim for T&E Program Resilience
SAP Concur and Deloitte Tax co-authored an article explaining how VAT impacts employee expenses and planning for recovery. It notes an average of 44% of potential VAT revenue is left on the table each year from travel expenses. VAT is levied in more than 160 countries, with the U.S. being the largest economy that does not levy VAT. 42% of employee expense transactions fail to meet VAT reclaim requirements due to incorrect or missing data. Michelin recovered $3.9 million in three years with VAT technology.