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Global Value Added Tax – European VAT Refund Opportunity Deadline Approaching

Nearly all countries outside the United States impose a Value Added Tax (VAT), also called Goods and Services Tax (GST) or Consumption Tax (CT). A physical presence in a VAT jurisdiction is generally not required to be liable for VAT. As such, for U.S. companies with international activities, understanding the basics of VAT is critical to minimize exposures and identify potential refund opportunities. For many European countries, the deadline for filing a refund claim covering VAT incurred in 2023 is June 30, 2024.

Source Andersen


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