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 Goods Services Tax (GST) taxes that are paid on overseas events. VAT is a transaction tax on goods and services charged around the world. The tax may be listed as VAT, GST, MWST or consumption tax and can be refunded from Western Europe, Canada, Taiwan, and South Korea.
When signing contracts with exhibit builders or ordering show services, the total amount may be shown + VAT tax. This is a sales tax that can range from 16 to 40%. VAT tax adds to the cost of the show but it can be reclaimed if the exhibiting company applies for the refund. Original invoices must be submitted, emailed or PDF invoices are not accepted.
Foreign tax laws and refund claims can be confusing. VAT tax laws vary between countries as well as the filing deadlines. While one country may refund VAT on a rental car, another may not. 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:
• Trade show booth rental
• Exhibit construction and assembly costs
• Marketing/advertising costs
• Travel expenses (hotels, meals)
• Shipping costs
• Show services (electric, audio-visual)
• Booth services (temporary staff, catering)
You can maximize VAT refunds by letting the experts file the claim and registering for VAT claims where required. For more information about VAT reclaims, visit https://www.ttminternational.com/
Stop leaving money behind and use VAT refunds to boost your budget.
Need help planning your next trade show or event? For assistance contact info@globalexhibitmanagement.com or call us at 817-370-1400.