Small and medium enterprises (SMEs) across Middle East and South Asia can now turn their costs into a benefit by reclaiming Value Added Tax (VAT) on service expenses incurred in UK, Europe and Australia.
Through Mastercard, a leading technology company in the global payments industry, partnership with Dnata, one of the world’s largest air services providers. Who’ve teamed up to launch a VAT Reclaim Service for Mastercard Platinum BusinessCard and World Mastercard for Business cardholders. Allowing businesses in the region to reclaim the Value Added Tax they‘ve paid for more than 15 services in 18 countries across Europe, UK and Australia.
The SMEs operating from countries where they’re registered are provided the opportunity to save on travel expenses and turn their valueless invoices into a significant source of income at no extra cost.
The VAT paid for services including hotels, restaurants, telephone calls, transportation, training and exhibitions can be reclaimed by employees, whilst travelling on company business, provided the invoices are paid by registered companies in the countries that fall within the scheme’s domain.
Due to each year, businesses in the region spend millions in VAT on services supplied in the UK, Europe and Australia. It provides a simple, innovative solution for SMEs throughout the Middle East, North Africa and Pakistan. To manage their business-related travel expenses, helping eliminate the complexities typically associated with reclaiming VAT. With an entirely managed end-to-end process through Dnata.
Through a simple managed procedure, SMEs can claim back the VAT paid in France, Monaco, Ireland, Great Britain, Belgium, the Netherlands, Denmark, Iceland, Norway, Sweden, Finland, Spain, Luxembourg, Germany, Malta, Austria, Bosnia and Herzegovina, Montenegro and Australia.
The VAT Reclaim Service collects original invoices from businesses, follows up on reclaims and provides regular updates on the status of each claim. All while ensuring that maximum funds are reclaimed for customers.