VAT (Value Added Tax) Refunds / Reclaim for Europe, Japan, South Korea & Australia

A New Direction

TTM will oversee all the details that could consume the time and attention of your financial management personnel. We provide turnkey services that maximize returns and reduce your time investment.

In addition to comprehensive oversight and personal service, we provide our clients with some of the most flexible pricing options in the industry. With our services, you'll claim more and keep more of your refunds.

Flexible Thinking Creates Opportunities

Opportunities often come from taking a new look at old ideas . . . ideas such as the inevitability of taxes. In today's fast paced and changing environment, you should examine all expenses that affect profitability. There are more options for controlling taxes today than ever before. Value Added Tax refunding is one important area in which savvy business people are taking a closer look.

TTM can assist in:

Maximizing refunds by considering the opportunities for the whole organization, including subsidiaries
Lowering your cost by designing and streamlining procedures for maximum refunds
Maximizing your cash flow on recoveries
Meeting your goals and objectives through long term planning and short term performance measurement

The Essence of VAT

Value Added Tax (VAT) is a tax on goods and services. Currently, there are VAT systems in place all around the world. The United States, however, is one of the few industrialized nations not using a value added tax system.

Under a VAT system, every business must collect tax from each customer and remit it to the government. This applies to both wholesale and retail sales. Each business collects VAT funds on sales and pays VAT on purchases.

The business must remit to the tax administration only the VAT collected in excess of the VAT paid. By receiving credit for VAT paid, the business bears no economic burden for VAT on its purchases. The amount of VAT a business remits to the tax administration approximates the value they have added in the production chain.

The foreign business, however, is at a disadvantage in this process. The business pays VAT on its purchases but, unlike a domestic competitor, it cannot credit this against VAT collected on sales. As a result, the VAT is discriminatory to the foreign business.

As the European Union (EU) has progressed in its mission to develop a single internal market, harmonization of VAT has been important to allowing free and unrestricted flow of goods and services. To alleviate the discriminatory effects of the VAT, the EU has adopted a series of directives on VAT which mandate certain refunds. Each EU member state is gradually adopting internal laws which allow for some VAT refunds.

Since VAT refunds became available to non-European companies in 1988, other countries have also made VAT refunds available. Canada, Japan and South Korea recently initiated refund schemes in order to meet the reciprocity requirements of the European Union.

VAT Refund Opportunities

Each country determines which VATs will be refundable. There are a variety of restrictions, specific to each country, which limit the VAT refunds. Some countries may allow VAT refunds on all expenses. Others may allow refund of VATs only on expenditures incurred in connection with trade shows. There are language barriers, critical filing deadlines and rules that are constantly changing.

At TTM International, we help our clients plan the refund process by examining their expense patterns. We look at the complete corporate structure including a subsidiaries, divisions and industry sectors. This assures that resources used in the recovery process are effective in the pursuit of all potential benefits. TTM understands the many facets of VAT refunds and has the skills to help you succeed in getting those that are rightfully yours.

Qualifying international business expenses may include:

Employee travel
Marketing expenses
Marketing research
Legal fees
Consulting services
Employee training
Local representation
Support services

Let Us Guide You Through The VAT Refund Maze

TTM is totally committed to saving you money. Our approach is simple, but thorough. You get the benefit of our extensive experience in international taxation, travel management and law. Our expertise is in helping companies like yours achieve greater control, better cash flow and enhanced profitability.

Our clients include companies in:

Health care products and services
Finance and insurance
Industrial products manufacturing and distribution
Science and high technology services

Our clients have chosen our services over in-house preparation because they want prompt, effective service and consistently economical rates. Some have come to TTM from other refund services; others on the recommendations of colleagues, travel agents and friends.

With TTM you can expect a long term relationship of quality, commitment and service. It takes specific talents and a caring, professional attitude to keep clients. We understand that and we do what it takes to enhance our value to you.

Results . . . Our Pledge to You!

Our pledge is to work on your behalf to maximize your VAT refunds. We can assist in every phase of your recovery program.

Here are some of the benefits you get in working with TTM:

Knowledge of the Value Added Tax systems and solutions that work
Qualified people, with the resources, skills and discipline to get the job done
Proven approaches and methodologies
Sophisticated computer support to ensure that our analyses and refund claims are thorough and accurate
Practical short term solutions and long term recommendations

We'd like the opportunity to tell you more about how we can identify valuable tax savings.

Call us today to discover a world of savings.

TTM International, LLC
PO Box 130337
Saint Paul, Minnesota 55113
Telephone (800) 624-9383
Telephone (651) 600-3077
Fax (651) 788-9230