Companies that do business in the European Union are often entitled to recover the value-added tax (VAT) paid on certain types of business expenses and purchases of goods or services. However, every year, large amounts in recoverable foreign VAT are left unclaimed.
KPMG has developed a new market leading approach, based on a combination of data analysis technology and a process designed to minimize manual invoice collection.
Using proprietary technology, a company’s credit card and/or expenses system data can be analyzed and a VAT Opportunity Report created. The report identifies potential VAT recovery amounts and targeted invoices.