Value Added Tax (VAT) is a consumption tax that is levied on goods and services. The tax is levied in many countries abroad. Some of the countries where the VAT is imposed are Australia, Japan, Canada, and Europe.
In this article, we will talk at length about the situations in which you can apply for an import VAT refund. You will also learn about the process of allying for a refund.
Applying for a VAT Refund
Foreign companies can qualify for a VAT refund. The rules regarding the refund vary in different countries. In some countries, you need to register your business with the local government authority before carrying out international trade. Corporate entities are entitled for the VAT refund on different services such as:
- Transportation
- Hotel
- Tradeshows
- Conferences
- TV and motion picture production
- Seminars
- Logistics products
- Installation contracts
- Marketing services
- R&D
In order to apply, you need to file with the local tax authority. You need to submit original invoices with the application for the claim. Also, you need to submit signed refund forms. The local tax authorities will grant the refund after processing your claim.
Keep in mind that companies that don’t register for the VAT will not be able to get a refund. You need to apply for a VAT number by applying with the local tax authority. After registering for the VAT, you may have to file the VAT returns on a regular basis to get the refund.
How to Apply for a VAT Refund
The rules regarding VAT vary and are complex. In the majority of cases, you need to apply using the local language. GCE Logistics can offer valuable advice in claiming the VAT refund. We can act as your single source service provider regarding different aspects of international trade. Our professionals will work with you in getting your goods cleared for importing and exporting.
We can communicate with the local authorities in the language that they can understand. We have experience in complying with the rules and requirements of the local tax authorities. By availing our services, you can better structure your company’s operational processes regarding on-going VAT refunds, registration, and management.
GCE Logistics provide IOR/EOR, warehousing and transportation, air freight, and many other services related to foreign trade. We have the necessary knowledge, procedures, and processes that can help expedite your claim for VAT refund. We can handle complex and sophisticated processes involved in foreign trade. For more information regarding our value-added services, you can contact us by clicking here.
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