Let’s face it – VAT reclaim processes can often feel like a headache instead of a valuable revenue stream. That is if you’re tackling it alone, of course. As a business scales, so does the reclaim opportunity. But unfortunately, along with an increasing VAT reclaim scope comes increasing complexities and a demanding landscape – especially for teams with plenty on their plates. So, how can multinational retailers keep up with an expanding budget, exponential business growth, and VAT opportunities without depleting their resources? Cue streamlined, effortless, and significant VAT recovery.
But before we can dive into how retailers can maximize their VAT recovery yield, it’s important to understand why to prioritize VAT reclaim in the first place. Apart from the apparent benefits that additional revenue can give businesses, the retail industry can particularly elevate their finance by reclaiming VAT. By increasing the VAT yield, retailers can reduce the cost of inputs and improve their pricing structure and profitability in a competitive market. So, what’s the catch?
Reclaiming VAT can often feel burdensome and can take critical players from the playing field. Despite best efforts, the retail industry still falls victim to millions of euros in unclaimed VAT slipping through the cracks each year. Is your business missing out on VAT savings too? Yes. Is there something you can do about it? Definitely!
Here’s what you need to know.
Source: vatit.com
