momsPartner

Value Added Tax (VAT) refunds

Businesses have the opportunity to reclaim VAT on services and expenses incurred abroad. The rules have been stipulated by the EU and apply throughout the EEA Area. Businesses can also apply for VAT refunds from South Korea and Canada..

A prerequisite for having VAT refunded is that the business does not have to be registered, or is not already VAT registered, in the country and that the nature of the business's operations is subject to a duty to pay VAT in the country from which the business is applying.

The expenses that may entitle a business to a VAT refund vary slightly from country to country. MomsPartner helps you to keep track of these.


	All countries, except Canada, demand original vouchers as documentation of the VAT paid. These original vouchers must be taken from the business's accounting vouchers.

	The various vouchers must be allocated to each individual country and registered in accordance with the applicant country's documentation requirements.

	The individual country deals with the application in accordance with its VAT legislation. Original vouchers are returned together with the settlement.

	It takes an average of 8-10 months from the date when the application is submitted until the amount is paid into the applicant's account.