With Brexit will come major changes to European VAT processes

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Taxback International is tracking the possible issues with EU VAT processes that may arise in the wake of Brexit.

Of course there will be many changes and new regulations will have to be taken into account but it’s nothing we can’t handle. This is what we do at Taxback International. We tailor solutions to meet the exact needs of our clients and manage the entire process from start to finish.

It’s a new year and with it comes the day that has been at the heart of news cycles for months on end: Brexit. The UK is set to leave the European Union on 31 January 2020 and it will undoubtedly bring with it all manner of changes. For companies that do business internationally the main concern is knowing which changes to expect and how to manage them. Business conducted between enterprises in the UK and EU will certainly be affected but how? Drawing on its years of experience in VAT solutions, Taxback International has been monitoring the Brexit situation and taking note of the issues that are likely to come up.

Processing VAT reclaims, an already heavily time consuming endeavour, will only become more so between the UK and EU. Adding to the complexity, the UK will no longer be covered by the EU VAT Refund Mechanism, scanned receipts probably won’t be acceptable and there is no guarantee that rates of VAT and thresholds for registration in the UK won’t vary wildly from those in the EU. An already complex process is set to become even more complicated. Companies need not panic in the face of the coming changes. They can prepare for the impact of Brexit. Taxback International Senior VAT Manager, Lisa Dowling says:

“Of course there will be many changes and new regulations will have to be taken into account but it’s nothing we can’t handle. This is what we do at Taxback International. We tailor solutions to meet the exact needs of our clients and manage the entire process from start to finish.”

Taxback International combines innovative technology, deep industry expertise and value added partnerships to deliver comprehensive VAT solutions that maximise your VAT reclaim and minimise your risks, so you can focus on growing your business.

Taxback International is a member of The Taxback Group, a collection of global companies that deliver focus driven, digitalised solutions to simplify the complexity of global business.
The entrepreneurial spirit which characterized its inception in Ireland has continued to shape the products and services which they create. Taxback International recognises that one size doesn’t fit all and strive to create bespoke services that exactly meet the needs of a diverse client base.

VAT is complex. Taxback International makes it simple.
Get in touch with our Taxback International team of VAT experts for more information on how VAT may be impacted after Brexit.

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Lydia A Holt
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