autoVAT
We use autoVAT technology to provide high end
VAT recovery services to our clients. The following autoVAT features are unique in the VAT recovery industry:
- Generate quarterly Invoice Collection Reports
autoVAT identifies recoverable VAT transactions in corporate expense data and then directs document collection efforts to the most valuable invoices. For most corporations, more than 90% of recoverable VAT resides in less than 50% of the candidate invoices.
- Request missing invoices from vendors
autoVAT can identify when paper documentation has not been located for VAT present in expense data. This allows us to contact vendors and request that they reissue high-value VAT invoices.
- Generate VAT refund applications
Once the document collection effort is completed, autoVAT automatically generates electronic VAT reclamation application forms. Incorporated into each application is the approved government application form, the list of invoices included in the application, and an equation to show how the requested VAT refund was calculated for each line item. The end result is a highly accurate application for VAT refund.
- Track refunds through quarterly reporting
autoVAT provides quarterly reporting that contains detailed application tracking information, including: date filed, application amount, refund amount, date refunded, autoVAT fees, and net refund to client. As well,
autoVAT provides tracking of invoices by expense category, document source, and cost center.
- Improve VAT Recovery
autoVAT can analyze the gap between VAT incurred and VAT recovered and suggest methods to improve overall VAT recovery.
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