VAT Refunds

Expediting the VAT Refund process

Recovering Value-Added Tax (VAT) is a crucial part of an effective indirect tax strategy. VAT recovery by businesses is sometimes difficult or even where refunds apply, long delays are common. Taxpayers must not only know the cases when they have the right to demand tax refund but they also need to understand how they can get prepared to obtain the requested tax refunds within a short timeframe.

If not, the problems which may arise during VAT Refund processes might adversely affect the financial management of the business. To expedite the VAT Refund process, the tax refund file must be prepared completely along with the all other procedures. Although there are several mechanisms for VAT recovery, it may be difficult for businesses to fulfil the requirements in practice. Besides, tax authorities apply strict criteria before they authorise a repayment.

Barriers to recovering VAT include a lack of understanding of the detailed indirect tax rules, difficult administrative procedures and insufficient or incorrect documentation as well as missed deadlines for a reply to the Federal Tax Authority. Unclaimed tax credits and missed or delayed refunds commonly cause negative cash flow and tax leakage that increase business costs and reduce profitability.

MBG Corporate Services is a Registered Tax Agency with the Federal Tax Authority, comprising of professionals dedicated to client satisfaction and high-quality services. We have an extensive network of Tax Agents & VAT professionals with in-depth understanding and experience in tax refund procedures. Our experts can assist your business to develop or improve related business processes to reduce the time and administrative costs associated with making claims and increase your chances of success.

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