Manufacturers often rely on various multinational processes and suppliers. However, as their business expands, successfully recovering local and international value-added tax on their expenses often becomes significantly more challenging. However, as the challenges increase, so does the refund potential.
Manufacturers, particularly, are challenged with intricate and niche contractual and financial obligations regarding tooling, supply and install, transport, and logistic costs. However, understanding how VAT impacts high-value processes and how to reclaim it successfully can help manufacturers maximize their savings, free up their resources, and inject finances into the business, allowing them to leverage a financial advantage over their competitors.
However, due to the industry’s complex global supply chains and ever-changing VAT legislation, maximizing your VAT recovery can be resource-intensive and exhausting.
But there’s a reason why we have a proven track record as the leading VAT reclaim partner in the electronic and metal manufacturing industry, having reclaimed more than €40 million in foreign VAT. Here’s how.
Source: vatit.com
