NEW YORK, May 22, 2019 /PRNewswire/ -- Global
VaTax officially launches a partnership with Expensify, the
world's leading application for expense management in business
travel.
Research suggests companies worldwide are losing out on billions
of dollars per annum on Value Added Tax (VAT), which in reality, is
a tax that can be recovered. Most companies aren't familiar with
the concept, or the intricacies surrounding the tax reclaim
opportunity. Of the companies surveyed by the Organization for
Economic Co-Operation and Development, 72% found reclaim procedures
difficult to navigate. 20% were unable to recover any VAT expenses
at all. It is extremely difficult to steer through the red tape,
language barriers and other complications and requirements unique
to each country and its specific Tax Authority, in an effort to
reclaim tax spent in that country.
The partnership between Global VaTax and Expensify addresses
these challenges and provides American businesses with a seamless
solution to clawing back VAT and reducing travel expenses.
Expensify enables its clients to manage expenses through
its real-time data and reporting processes. Expense management
processes are automated and savings are generated. For example,
business travelers will take a picture of their receipts as they
arise and the Expensify software will process the information with
no further effort required. Paperwork will no longer get lost or
expenses misallocated. All expenses and their accompanying
paperwork are readily accessible and sorted appropriately.
With just a few clicks, Global VaTax extracts VAT related
data and converts it into cash. Utilizing the VaTax
Cloud Software, Global VaTax analyses data and allocates it
systematically into claimable and non-claimable expenses. The
entire process is managed with very little time, effort or expense
from the client. Global VaTax prepares the claim on its clients'
behalf, ensures its timely submission and communicates directly
with the foreign tax authorities who are responsible for the refund
– up until the point when the refund is received.
All complications are removed from the tax reclaim process.
"When companies learn about VAT reclaim, they're motivated to
participate - without exception! Enthusiasm often abates, however,
when clients are required to allocate resources to sift through
invoices, prepare claims in various languages and communicate with
international tax offices. Our relationship with Expensify
eliminates all the time and effort, previously required of the
client. This makes our product a no-brainer," says David
Zulberg, CEO of Global VaTax.
Contact us today to start your international business VAT
reclaim before the deadlines at
https://globalvatax.com/contact.
Media Contact:
Maxine Tantij
Phone: 212 464 7524
Email: maxine@globalvatax.com
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SOURCE Global VaTax