We’re well aware that the VAT landscape doesn’t always look pretty. For the beauty industry especially, juggling industry-specific expenses and their VAT processes can be daunting. So much so that many organizations within the beauty industry rarely maximize their VAT potential. Considering the industry’s complex global supply chains and ever-changing VAT legislation, ensuring compliant and maximum VAT recovery is resource-intensive and exhausting.
So, how can businesses in the beauty industry increase their VAT potential without draining their resources? Here’s a look at pretty neat VAT reclaim hacks for businesses in the beauty industry.
1. Doubledown on expenses
2. Consider your internal structure
3. Partner up
Source: blog.vatit.com
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