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Important Tips To Remember On Eu Vat Recovery For Business Travel

You'll find many goods and services assessed as "value-added tax," or VAT when visiting Europe. It's a consumption tax and ranges from 15 to 25 per cent. If you pay this tax while shopping overseas, you can get your money back after returning home. Travellers are entitled to a refund for the VAT portion of charges for goods.
Here are few tips you must know about claiming for EU vat recovery for business travel:
Refunds only from Goods
Countries generally exclude exports from VAT. So when you buy merchandise, what you take home is deemed an export. And, you are entitled to a refund for the VAT portion of the price.
Meanwhile, when you eat a restaurant meal or stay in a hotel, those services are consumed locally rather than exported. Hence, tourists are not entitled to VAT refunds on those purchases.
VAT can Be Big
EU (most of Western Europe) rules demand that member countries impose a VAT of at least 15 per cent. Many countries exempt some purchases altogether or apply reduced percentages on "essential" purchases.
VAT rates in Europe non-EU countries are 8 per ...
... cent in Switzerland, 25.5 per cent in Iceland, 8 per cent in Turkey and 25 per cent in Norway, with some exempted rates.
VAT is included in the Cost
Merchandise charges you see in stores always include VAT. The thumb rule is that: what you see is what you pay. Online travel agencies post hotel prices inclusive of VAT— so please don't always forget to check the fine print.
Moreover, some localities inflict the equivalent of sales taxes on hotel accommodations, but they do not include these in the posted price. Hence these additional taxes are usually relatively low.
Buy at Tax-Free Airport Stores
You can avoid paying VAT by buying in a "tax-free" airport store, usually placed after the departure formalities at international airports.
Store prices at most airports are just a little below the local high street prices. Those fat margins help fund the airport.
Where to Buy
Buy from stores that can handle VAT-refund paperwork. Street vendors and many small-town stores generally don't provide this service.
When you buy, let the merchant produce the necessary paperwork, and finish the paperwork before you leave the store.
When you leave the EU, take the merchandise and the paperwork to the border station and get the documents stamped by a local customs agent. Please remember that you won't get the refund without the stamp.
Your Goods Must Leave the Country
Most European countries enable you to recover VAT when you "export" an item. But for that, you must prove that the goods had left the taxing authority before collecting your refund. If you are flying, you are required to show the goods after you pass through the customs formalities. To qualify for the VAT refund, the goods must be unused and new.
Do you also want to take up international vat recovery services? There are many trusted platforms online that make it simple for you to receive VAT reclaims for any business-related activity expense.
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