Requesting a foreign VAT refund is fraught with challenges. It begins with making sure that all the employees in your company have entered the VAT information for their expenses into your expense software correctly. Additionally, there’s no standard formatting for foreign VAT receipts, so you’ll have to put in time and energy working out exactly how much VAT was paid and what it was paid for, so that you can verify that all the VAT was paid correctly. On top of that, all too many VAT receipts are likely to be torn, stained, crumpled, or all the above – making deciphering them a challenge in and of itself.
But just to make VAT reclaim even harder, foreign VAT rates don’t stay the same forever. If your company’s employees are involved in a lot of business travel, it’s very likely that a number of VAT rates have changed just during the past financial year. It’s vital for you to keep on top of all changes to both standard and reduced foreign VAT rates, so that you can make sure that your VAT refund requests are always correct.
Source: way2vat.com
Latest Posts in "China"
- China Releases Draft VAT Implementation Regulations for Public Consultation Ahead of 2026 Law Launch
- Shell Companies Exploit Agricultural Tax Benefits, Issue Fraudulent Invoices Worth 30 Billion Yuan
- Chengdu Tax Bureau Investigates Sichuan Logistics Firm for VAT Fraud and Tax Evasion
- Pingtan Tax Bureau Cracks Down on Agricultural Tax Fraud and Fake VAT Invoice Scheme
- China’s New VAT Refund Policy for Taxpayers Begins September 2025
