New EU VAT refund process

Smaller businesses which have not previously been able to recover VAT borne in the EU will benefit from a change to commence on 1 January 2010.

As part of an EU simplification measure, the process for reclaiming VAT incurred in other member states will be significantly streamlined, with claims made electronically, rather than on paper, and submitted to the home tax authority – in the UK this is HMRC.

So the convoluted process applying before under which many small businesses gave up the unequal effort to recover input tax borne abroad comes to an end.

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Comments
abelljms's picture

wow

abelljms | | Permalink

at last HMRC/Bruxelles do something to seriously help small businesses do international business.

it will be interesting to see how the reality pans out of course..............