NIKOSAX A/S has from August 2018, launched a new Tax- ervice product: “Due Date Excise Duty Refund (DER)”. Under this service, NIKOSAX prefinances excise duty refunds so that customers receive their money shortly after the fulfilment of all requirements without waiting for tax authorities to make disbursements, which can take several months or even years in some cases.
DER is an enhanced service option of NIKOSAX’ Excise Duty product which applies to any diesel obtained within Belgium, France, Italy, Slovenia, Hungary or Spain.
Choosing DER means opting for a 30-day processing time which begins after timely receipt of all requisite documents and provided that the contractual minimum refund amounts per member state of refund (MSR) have been achieved. The alternative is Normal Excise Duty Refund (NER) which depends on how fast tax authorities make disbursements and so consequently results in longer processing times - up to 3 years.
The short processing time of DER translates to optimized cash flow and effective planning for customers.
The chart below explains the DER Refund process in more detail.