Cosmopolit Group, indirect tax compliances in the European territories
GUIDE TO V.A.T. REFUNDS IN EUROPE BY COSMOPOLITE GROUP
All companies, whether European or not, can recover VAT paid on business expenses.
The Eight and Thirteenth Directives of the European Union (8th EC Directive dated 6 December 1979, 13th EC Directive dated 17 November 1986) authorize the refunding of V.A.T. (Value Added Tax) paid in Europe.
Claims must be submitted according to the tax legislation of the country in which expenses are incurred.
WHY AN INTERMEDIARY?
It is very difficult for companies to recover the VAT themselves, the main reasons being:
- The paperwork involved (combing through invoices and check their format, review expense reports)
- Excessive administration – each tax authority has to be contacted individually, which means 29 different countries with different languages and 29 ever changing legislations.
Cosmopolite Group maintains constant contact with all EU tax authorities and applies fiscal legislation updates immediately. With just one intermediary, companies can easily obtain their VAT refunds in 28 countries with no hassle.
SCOPE OF SERVICES OFFERED BY COSMOPOLITE GROUP
Cosmopolite Group processes and monitors claims every step of the way, from receipt of invoices up to settlement.
- SCREENING AND SELECTION of invoices and returning any invoices that are not eligible for refund
- SORTING invoices per country and filing them in chronological order
- INPUTTING invoice data into a special computer program and printing out a master list of items submitted for VAT refund
- SCANNING files for safekeeping
- SUBMISSION of the claim files to the tax authorities in each country
- PROVIDING INFORMATION to clients on the status of their claims
- RETURNING invoices stamped by the tax authorities to your Accounts Department
- KEEPING UP-TO-DATE with legislation changes in order to comply with the rules in each country
- INVOICING of our fees after receipt, by the client, of the repaid VAT.
Original invoices will be returned to the client, country per country in chronological order together with a printout list to avoid time consuming resorting.
Cosmopolite can also give advice and help clients set up their own internal procedures to facilitate tax recovery.
As a first step we always suggest evaluating, with you, the potential VAT refund, related to your organisation over a yearly period.
You can never lose on VAT refund: No risk, no upfront cost only benefits !
Zone Industrielle de la Petite Savate, 34 – 49 rue de L’Egalité,
59600 Maubeuge, France