Reclaiming foreign VAT
Many business costs can be claimed back for tax purposes, such as fuel costs, parking fees and meeting venue hire. However, many companies do not know that foreign payments also qualify for VAT refunds. Just like the VAT on transactions within Germany, claiming back foreign VAT can be an unwieldy and time-consuming process. But when you pay using your XXImo Mobility Card, that, too, is a thing of the past. After all, all transactions on the card are automatically classified as business expenses. Moreover, XXImo uses a comprehensive information system which means that almost anything can be automated. Making it a whole lot easier to claim back your foreign VAT. Ideal, isn't it?
Claiming back foreign VAT – how does it work?
In partnership with VAT specialist VATit, XXImo offers the ‘Foreign VAT reclaim’ service for claiming back VAT paid abroad. For example, VAT can be reclaimed on refuelling, travel and accommodation costs incurred abroad. Reclaiming the foreign VAT is a laborious process because there are differences in the minimum amounts and regulations which apply to VAT refunds from one country to another. VATit has incorporated these rules into its information system, which calculates from which point in time a customer can reclaim a particular amount of VAT. By linking this system to the XXImo cardholder’s details, the process can be largely automated. VATit can also rely on an extensive European network, increasing the chances of successfully reclaiming VAT paid abroad.
Less paperwork, fewer worries
Reclaiming VAT paid abroad remains a headache for many entrepreneurs. For this reason, XXImo offers this service to companies with employees who regularly perform transactions abroad. With the convenience of XXImo and the no cure, no pay VAT reclaim service from VATit, maximum savings are achieved in the most efficient way possible. What’s more, it saves you a lot of time. Your business therefore reduces its net costs. As the administrator, you can request this service for your company from XXImo.
Paying abroad with XXImo – the advantages
- Foreign VAT reclaim is almost fully automated thanks to our comprehensive system
- Complex regulations in every country have already been catalogued and incorporated into its system by VATit
- You benefit from VATit’s extensive network and are therefore more likely to get a refund
- You benefit from VATit’s no cure, no pay guarantee
- Saves your company a lot of paperwork, worries and money