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September 2022, Virtual
September 29 2022, Virtual
IT company teams up with TBI
IT company Concur has teamed up with TBI to launch a VAT recovery service for its clients.
Concur, a major supplier of expense management systems, said it had chosen the T Ireland-based Vat recovery specialist because of its expertise in integrating into concur solutions.
It said the VAT recovery software would use high end data to tell Concur clients of any unclaimed VAT as well as helping them recover the money.
Concur said the reclaiming foreign VAT was a "complex and daunting process."
Research by the European Commission showed that 50% of companies do not re-claim it and that 80% of large companies which do run into difficulties.
Concur said that TBI, which has been operating since 1996, provided a "simple, straightforward and efficient recovery solution."
It has 6,000 clients in 107 countries.
Mark Law, Concur's director of business development EMEA, said: "Due to a lack of awareness and a complex VAT recovery process, companies fail to make reclaims and miss out on what can be substantial refunds.
"This solution builds on our existing services, makes it easy for companies to reclaim their foreign VAT, cut costs and makes their businesses more competitive."