15 Jul News and Updates | VATIT
The UAE have implemented a 5% VAT in their country as of 01/01/2018.
However, they are in the process of allowing companies to reclaim this VAT for business purposes.
The process is slow but we are keeping a close eye on it.
What’s New at VATIT?
- Click & Claim
- Concur users are able to request an evaluation of their potential VAT claims using the simple Click & Claim tool. It is free for anyone and there is no obligation to make use of the services. One call or e-mail and we’ll handle it for you.
- 2018 SAP Concur App of the Year Award
- SAP/Concur have awarded us their App of the Year for 2018. The VAT Cloud has been in use for over 3 years now and we have helped thousands of clients reclaim their VAT. The VAT Cloud is designed for Concur users but we do use it for other platforms like Chrome River, Coupa, etc.
- SkyClaim assists airline passengers to claim compensation for delayed, cancelled and over-booked flights under European and Israeli regulation for flights to and from the UK, Europe and Israel.
Did You Know?
We have over 40 offices worldwide – all of them staffed by local people. So we literally do speak your language!
- We have a legal department dedicated to helping us negotiate all the VAT rules
- We are ISO27000 compliant – the only company in this space worldwide! This will include the GDPR compliance as well.
- Each EU country has its own VAT rate and VAT reclaim rules. Luckily we know them all!
- Hungary has the highest VAT rate of 27% with Denmark a close second at 25%.
- Most EU countries have 2 VAT rates – the Standard and a reduced rate. Most of the reduced rates are applied on foodstuffs. Some countries have 4 rates!