As VAT (value-added tax) regulations constantly change, reclaiming VAT on travel expenses can be complex and time intensive for any company, particularly when global travel is involved. In fact, 70-80% of VAT goes unclaimed by companies across Europe and the U.S. With VAT rates as high as 27%, that can translate into a significant return to a company’s bottom line with the right technology. New technology that addresses these concerns has arrived in the Concur App Center.
Taxback International, a Concur App Center partner, recently launched VATConnect – 1Click, which streamlines connectivity from Concur Expense to Taxback International’s VATConnect platform in one simple step. This pre-built integration eliminates the need to set up user admin accounts, assign permissions, or send unsecured e-mails. One click is all it takes to begin utilizing SAP Concur’s intelligent data combined with Taxback International’s proprietary software and VAT experience, to save time, drive smarter savings, and improve visibility into AP invoicing.
VATConnect – 1Click provides clients with a free no-obligation VAT analysis report in a matter of hours. The analysis includes details around global T&E spend and/or invoice spend broken down by country and expense types, helping identify total potential eligible and ineligible VAT. Taxback International can also manage full VAT refund claims from any country in the world.
To experience the impact of VATConnect – 1Click on your business, visit the Taxback International App Center listing.
Launched in 2013, the Concur App Center makes it easy for travelers to find and connect to apps that integrate with SAP Concur and provide additional value for individuals and businesses. With more than 160 pre-built integrations and popular connections, the App Center extends the value of SAP Concur by helping customers implement SAP Concur rapidly, gain insight into spend, and simplify expense reporting.