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TIPS AND TRICKS: All you need to know about foreign VAT Refund

What do I need to do to get my VAT back? 

Just get in touch with a FastVAT representative and you will find out how to get your money back: already paid VAT/other taxes.

What does Net Invoicing mean?   

Net invoicing is a method of payment of your purchases without VAT/Excise duty and/or other taxes included. This method is well known as a pre-financed refund. Net amount on an invoice is the cost of products or services before sales tax or any other fees like a discount or outstanding balance.

What is pre-financed VAT Refund? 

It means that you receive your money back before the foreign tax authoirites refund it.

Can I reocover the VAT in the EU if I have a company out of the EU?   

Road hauliers established outside of the European Union can recover VAT in a certain number of European Union countries as well as Switzerland and Norway. This is governed by the 13th DIR CEE, which determines the refund conditions.

What is the deadline to claim the VAT?

The applications can be sent until the 30th of September of the next year of the period applied. For example, all the invoices from 2020 can be sent until 30 September 2021. If you forget to send your invoices on this date, there is no refund possible. 

The period for which tax refund is performed, is a calendar quarter and/or calendar year (One company can submit five requests per refund per year maximum – four for the four calendar quarters and one for the calendar year).

Which are the periods I can claim a VAT refund?

The minimum period to apply the VAT refund, conforming to DIR 2008/9/EC, is a calendar quarter and the maximum is a calendar year. Certain tax administrations agree to process half-year applications.

However, if you choose quarterly, monthly or weekly pre-financing service, FastVAT eliminates this problem by financing from the first invoice of the quarter. Contact us to receive more information about.

Who can receive the refund of the VAT paid abroad?

i) VAT may be refunded from EU if you are a company registered under the VAT Act in EU country

ii) You have invoices issued from EU companies, where VAT has been calculated.

iii) VAT is refunded for purchased goods and/or services for which your company would have had the right of tax credit if such goods and/or services had been purchased in your country.

What are the documents required for apply a VAT refund claim?

FastVAT needs the authorization to take action on your behalf with your origin country tax administration, and an authorization for each country where we will apply the VAT claim

These documents also allow us to represent you with the tax administration in order to manage applications, monitoring and possible disputes/appeals

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