Global trading is now commonplace. Whether divisions, branches, subsidiaries or customers, it has never been so easy to do business in other countries. Incurring VAT costs across the world is also commonplace. VAT is levied by 166 countries in the free world. VAT rates can be as high as 27%, and, treated incorrectly, result in a direct reduction in profits. The OECD (Organization for Economic Development and Cooperation) conducted a global survey and identified that the majority of businesses don’t recover all international VAT that they are entitled to. To read the survey visit OECD website at: https://www.oecd.org/tax/consumption/44560750.pdf
Our experience shows year after year that 87% of companies don’t recover all the VAT/GST that they are entitled to.