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Value Added Talk: Episode 1
There is no such thing as free money but there is a commonly overlooked cash source that can give your company a very welcome ‘revenue’ boost.
Around four per cent of global travel spend offers reclaimable VAT but many companies don’t bother recovering the VAT they’ve incurred in the course of doing business abroad.
The VAT recovery process can be administration-heavy, but the time spent analysing the data in your systems and maybe even digging through a deep, dark basement to locate eligible receipts can be quite lucrative. How does a seven-figure cash injection sound?
Listen to the ‘free money’ episode of the Value Added Talk podcast below, where Jacek, Sylvia and Rob discuss the VAT recovery process and how much of a boost it can give to your bottom line.
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00:01 Intro 01:53 Topic of the day: ‘free’ money 03:18 VAT recovery or VAT reclaim – what is it and how much money can businesses claim back? 16:36 How to identify and find recoverable VAT 20:25 How to recover the VAT 22:57 Specific claim periods and deadlines 23:51 Potential obstacles 30:32 Key takeaways
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Get the lowdown on the key findings of the GBCI 2019 Accounting and Tax Report and how they affect regulations and processes globally.