Help at hand for VAT reclaim
VAT reclaim is a potential segment for businesses to improve cost efficiency. Clay Business Group explains how companies are saving on VAT paid abroad.
While companies collaborate with ideal partners to make arrangements for the travel, telecom and forex requirements of their employees, they overlook the potential to save on VAT paid abroad. Individuals pay approximately 10 per cent to 25 per cent VAT while buying goods and services abroad. This amount can be reclaimed by enterprises in accordance to the tax laws of the country of travel.
There are VAT experts working with Indian companies such as Clay Business Group that can make the entire process of reclaiming VAT easier for the enterprises. These experts verify the invoices that are eligible for VAT reclaim and initiate a VAT reclaim application on behalf of their clients.
“It is a huge opportunity for businesses to reclaim up to 100 per cent VAT on eligible invoices as per tax regulations of a particular country. We are enabling businesses to save their money not only by offering customised international SIM cards and attractive forex rates, but also by reclaiming VAT amount paid abroad,” says Gaurav Dhawan, Executive Director, Clay Business Group. An enterprise can reclaim within a year for the expenses borne by its employees in the countries such as the European Union, United Kingdom, Australia, Canada, Taiwan, South Korea and Japan. “We act as cost management consultants who provide assistance in saving money on overall international travel including telecom, forex and VAT for our partners”, says Aditya Joshi, Chief Operating Officer, Clay Business Group.
While businesses are looking for cost-saving measures in the volatile economy, they shouldn’t miss an opportunity to reclaim up to 100 per cent VAT paid (which is about 25 per cent of their total expenditure) on their international travel.
We are enabling businesses to save their money by reclaiming VAT amount paid abroad