Within the accountancy industry, there is very little room for error. Every cent is accounted for, and financial visibility is a key priority. However, even within a sector that is tapped into the intricacies of value-added tax and its impact on a business, there is still a significant portion of recoverable VAT that slips through the cracks.
Accounting firms, auditing firms, and even tax advisory firms all have a good grip on the VAT reclaim processes. However, that doesn’t exempt them from the burdensome, time-consuming, and resource-intensive processes that often come paired with VAT reclaim.
Ultimately, managing your clients’ funds and taxes might be second nature. However, maximizing the niche VAT recovery opportunities in the accounting industry is a whole other ball game – especially when the rules keep changing.
So, how can accountancy firms successfully reclaim significant VAT without compromising critical time, money, or resources? Here’s the deal.
Source: vatit.com
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