Keep a record of all transactions. Sales turnover is the amount the business earns before deducting business expenses including receipts of any kind for goods sold or work done such as commission, tips, payments in kind, fees and insurance proceeds. Sales of fixed assets are excluded from sales turnover as are Business Start up grants [...]

Reclaiming foreign vat is not a problem, generally, it seems that most companies either don’t think it is worth while or don’t know that they can. It has been estimated that around 80% of foreign VAT remains unclaimed. that is a huge amount going to revenue services throughout the European Union that should not. Does [...]

In Europe on the doors of many shops is possible to see a badge “tax-free for tourists”. It means that having done shopping in such a shop, you can essentially save money. The system of “tax-free shopping ” (TFS) is based on that in the European Union exist established rule: if you constantly live outside [...]

If you or your company does business in Europe, you should be aware that you are entitled to reclaim the VAT charged on certain services you incur. These services include employee travel and relocation costs, vendor expenses like inter company charges, exhibition and marketing costs, telephone and communication charges, and the costs involved in running [...]

Vat or goods and services tax (GST), is tax on exchanges. It is levied on the added value that results from each exchange. It differs from a sales tax because a sales tax is levied on the total value of the exchange. For this reason, a VAT is neutral with respect to the number of [...]