VAT registrations are often regarded as a must for companies that provide taxable supplies within a country. But what if your business doesn’t necessarily make any sales in a country? How does the registration process apply to you, and what happens to all the GST (goods and services tax) incurred on business-related expenses? To better understand registration requirements and how it relates to your business, it’s essential to first look at GST and how it influences your business.
In this piece, we’re looking at how foreign GST registration in New Zealand can benefit non-resident businesses that aren’t necessarily making any sales in New Zealand. This includes deep diving into unique GST reclaim potential, challenges, best practices, and how VAT IT can streamline the process to help you to efficiently navigate the administrative process while maximizing refunds and staying compliant.
Source: vatit.com
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