123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Business >> View Article

Important Tips To Remember On Eu Vat Recovery For Business Travel

Profile Picture
By Author: cbvat
Total Articles: 2
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

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.

Total Views: 122Word Count: 498See All articles From Author

Add Comment

Business Articles

1. Lucintel Forecasts The Global Wall-mounted Ac Ev Charger Market To Grow With A Cagr Of 22.4% From 2025 To 2031
Author: Lucintel LLC

2. Technology Landscape, Trends And Opportunities In Global 3d Printing Photopolymer Market
Author: Lucintel LLC

3. Lucintel Forecasts The Global Smart Home Market To Reach $372 Billion By 2030
Author: Lucintel LLC

4. Second Marriage Matrimonial – Verified Matches & Free Registration
Author: Truelymarry

5. Core: Leading The Way In Managed It Services For Businesses Across London
Author: IT Management

6. The Role And Function Of A Collection Agency
Author: Bennett Carter

7. Understanding Debt Collection Agencies: What They Do And How They Affect Consumers
Author: Bennett Carter

8. How To Use An Smm Panel Effectively For Fast Social Media Growth
Author: Smm Panel

9. Essential Tips For Beginners And The Power Of Professional Editing
Author: Sam

10. How To Improve Field Staff Efficiency With Geolocation Tools
Author: TrackHr App

11. Building An Effective Energy Management System
Author: Jane

12. Internal Auditor Training: The Key To Effective Risk Management And Compliance
Author: Sqccertification

13. Why Accurate Accounting In Property Management Is The Key To Higher Roi
Author: Harsh Vardhan

14. Kaal Sarp Puja In Trimbakeshwar – Benefits, Process & Trusted Pandit Contact
Author: Pandit Milind Guruji

15. Data Entry Vs. Data Processing: What’s The Difference And Why It Matters
Author: Allianze BPO

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: