Companies Lose $20 Billion In Unrecovered VAT Globally

Companies are losing out on $20bn globally in unclaimed VAT, research by recovery experts, VAT IT reveals.

The figure is largely due to the complex and time consuming European rebate system, resulting in businesses not claiming back money that is rightfully theirs.

The company says the global figure is a result of more than one-fifth of companies who incur VAT in foreign countries claim they are unable to recover it, due to procedures being too complex and burdensome.

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