Every exhibit and event manager wants to increase their budget to achieve marketing goals and objectives. Many American companies are missing an opportunity to increase the annual budget by reclaiming Value Added Tax (VAT) or GST (Goods Services Tax) taxes paid on overseas shows.
A Value Added Tax (VAT) is a transaction tax on goods and services charged around the world. The name varies in different countries; you’ll see it listed at VAT, GST, MWST and Consumption Tax.
When ordering show services or signing contracts with trade show display suppliers, the total amount may be shown + VAT tax. This is a sales tax that ranges from 16 to 40%. VAT tax adds to the cost of exhibiting but can be reclaimed if the exhibiting company applies for the refund. You must submit original invoices, emailed or PDF invoices will not be accepted.
Foreign tax laws and refund claims can be confusing. VAT tax laws vary from country to country in the European Union as well as filing dates. While one country will allow VAT reclamation on a car rental, others won’t.
It is critical that your shipping company prepare tradeshow display documents correctly. Exhibit materials should be documented on a Temporary Import Bond or Carnet so the exhibiting company is not subject to VAT tax on the value of the shipment.
The most common refundable expenses:
• Tradeshow booth rental
• Exhibit construction/assembly costs
• Marketing/advertising costs
• Travel expenses (hotels, meals)
• Shipping costs
• Show services (electric, audio-visual)
• Booth services (catering, temporary and contract help)
There are experienced VAT reclamation companies that will file the claim for your company. You can maximize VAT refunds by letting the experts handle the claim.
Stop leaving money behind and use VAT refunds to build your budget.
For more information about VAT reclamation qualifications, visit:http://www.ttminternational.com