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Reclaiming VAT on your overseas travel

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A new Campus Travel partnership with VAT IT, will help universities and their travellers recover the VAT paid on goods and services overseas. With global academic travel increasing each year, the ability to reclaim this tax can potentially put thousands of dollars back into your university’s travel budget.

What is VAT?
VAT is a Value Added Tax that is included in the cost of goods and services in a number of countries – including the United Kingdom, European Union countries and New Zealand. VAT is calculated at a  pre-set percentage, which is automatically included in the purchase price.

How can I claim a refund?
When academic travellers incur VAT on business related expenses overseas – such as hotel accommodation and car rental - the university paying for the travel can claim a refund. For example, VAT in the UK is 20% - so on a $2,500 hotel bill you could be eligible for a refund of $500.

But first organisations must pay the full, VAT-inclusive price, before applying for a refund. This is where the process can get complicated with the need for original supplier invoices, refund documents and official, country-specific paperwork. The onus is on individual universities to manage the collection and supply of invoices to redeem their VAT tax.

Who is VAT IT?
VAT IT is a global leader in cross border VAT and tax recovery. They have partnered with Campus Travel to offer university clients a professional solution to maximise traveller tax recovery. VAT IT can help universities to recover VAT spent on business travel expenses in Europe, Australasia, Canada and Japan. VAT IT is experienced with the forms and procedures involved and they have established working relationships with overseas authorities to help expedite and maximise claims.

VAT IT’s advanced technology solutions can tap into your university’s travel expense management system - such as Serko or Concur – to streamline the sourcing of data required to reconcile VAT related expenses. Alternatively they can advise you on the best payment options to ensure you receive valid VAT invoices. VAT IT recover the funds on behalf of your university and charge a service fee on successful claims.
Campus Travel can help to facilitate education on VAT and how your university can work directly with VAT IT to recoup the funds spent on this overseas tax.

Countries where VAT can be recovered on business travel expenses:

Europe
New Zealand
South Korea
Japan
Taiwan

Engaging VAT IT will help you to:

  • secure the maximum refund you are entitled to
  • put money back into your university travel budget
  • manage all your paperwork and reconciliation
  • take the burden off your travellers
  • ensure you are compliant with tax office requirements
  • expedite VAT refund times
  • keep up-to-date with country VAT and legislation changes.

 

For more information on VAT and engaging VAT IT please contact your Campus Travel Account Manager or speak to an academic travel specialist today.

Contact

Talk to an academic travel specialist today.

1300 882 021