Businesses operating in EU Member States can incur significant amounts of value added tax (VAT) on certain costs including travel and entertainment expenses, purchase of goods for lease or resale, and attendance at conferences and tradeshows among other items. VAT refunds may be available, provided the businesses file VAT refund claims by the deadline of 30 September 2017.
Notwithstanding that Irish businesses may not be established or VAT registered in other EU Member States, they may be entitled to recover the foreign VAT incurred via a special EU-wide VAT refund procedure. The VAT rules across the various EU Member States may differ from Ireland and there can be greater scope for recovery of VAT on certain foreign costs than under equivalent Irish rules (e.g., VAT on travel and entertainment costs).
The deadline for filing EU VAT refunds for the calendar year 2016 is 30 September 2017. This is a fixed deadline. If missed, the opportunity to recover any foreign VAT incurred will be lost.
Read an August 2017 report prepared by the KPMG member firm in Ireland
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