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| How to ensure tax refunding (VAT) on business related purchases of goods and services abroad |
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WHAT YOU HAVE TO DO :
1. Make sure that you meet the basic requirements entitling you to international VAT refunding.
2. Send us (also possible by fax) a copy of the registration certificate, etc. issued by the respective customs, tax and / or commercial business authorities in your home country.
The VAT refunding tax and customs authorities in many countries generally accepts this also being in English language.
If however your local authorities should not be willing / able to provide a English version then you can send us their official certificate / writing / letter and we will have our certified translation bureau perform an authorised translation.
We will in advance inform you of the related costs.
3. Sign, stamp and return in original our customer contract (by post) for VAT refunding which you can download here.
4. Sign, stamp and return in original (by post) the Power(s) of Attorney for each of the countries in which you want us to handle your VAT refunds.
By doing so you empower us - on your behalf - to apply for VAT refunds and - again on your behalf - to also receive the refunded VAT amounts back from the foreign customs authorities.
Please use a coloured pen (blue, red, green, etc.) to sign - never a black one as the POA would then by the authorities be deemed to be a copy!
5. Inform us whether you want us to send your VAT refunds to a bank account / postal cheque account of your choice (if so, please provide details) or make out a cheque in your company's name and send it to you.
6. Inform us if you want us to apply for your VAT refunds every 3rd or 6th month or when a calendar year has passed. Otherwise we will by default apply for VAT refunds when the respective minimum amount(s) for a quarter has been reached.
7. Preferably always see to that the original vouchers (invoices, etc.) for business-related purchases and costs abroad are made out to your company (not only to your own name or the name of a colleague or an employee) as some countries are very critical about refunding VAT on vouchers made out only on the name of a person even if this should be the CEO or a member of the Board, etc.
8. Always take good care of the original vouchers as they are important / valuable.
9. Send the above mentioned original vouchers to our address in Denmark ... :
NIKOSAX A/S
Lejrvej 8
DK-6330 Padborg
...and may we suggest that you - if things should not already be handled like this in your company - that you consider keeping copies of the vouchers in your book keeping department with a note stating that the original on the (date) has been sent to Nikosax A/S in DK-6330 Padborg in order to be used to apply for international tax (VAT) refunding.
WHAT WE DO FOR YOU :
1. Nikosax sorts all your vouchers and returns those of the vouchers that are not valid for VAT refunding incl. an explanation for the rejection, fills in the application(s), and sends these as well as the valid, original vouchers by courier services (DHL) to the respective foreign authorities for the handling of the VAT refunds.
2. Nikosax takes care of the needed communication with the respective authorities during the application period.
3. Nikosax receives your VAT refunds back from the authorities and then deducts a percentage commission of the refunded amount plus a handling fee for each VAT repayment.
4. Every quarter we send you a detailed specification showing what we - on your behalf - have applied for in which countries and include a short reminder to keep you sending your original vouchers.
5. Nikosax transfers your VAT refunds to a bank account / postal cheque account of your choice or makes out a cheque in your company's name.
6. Nikosax returns the original vouchers to your address by post as soon as they have been returned to us by the foreign authorities. This takes place simultaneously with the above-mentioned refund.
ONLY ONE VAT AGENCY ALLOWED :
EU legislation only allows you to co-operate with one VAT agency at a time. If at present your company should already have a co-operation with another VAT agency, you are under obligation to terminate the present co-operation before initiating the new co-operation with us.
PLEASE NOTE
We will always be there to guide you so the start up as well as our future co-operation never turns out to be too complicated ! |
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