MeridianVATassure
Maximising VAT recovery for global business
MeridianVATassure Maximises recovery of local VAT inputs from prior periods trough electronic audit of accounting system data.
Key Features
- Immediate cost savings
- Increased identification of recoverable input VAT
- Electronic audit process ensures 100% of vendor transactions included in review
- Retroactive recoveries (up to statutory limits)
- Maximising prior years
- Compliments 8th and 13th directive VAT recoveries
- Seamlessly integrates with other Meridian services
- Success-oriented fee structures
- Guidance with voluntary disclosures and retroactive filings
Why MeridianVATassure
Large multinational companies with high volumes of accounts payable (AP) transactions are placing an ever-increasing reliance on internal process and ERP system to identify and recover local and foreign VAT. While these internal process and systems correctly identify the majority of recoverable VAT, due to the unavoidable occurrence of exceptions, a small percentage of transactions fall outside the standard controls and checks. On high value AP expenditure this small percentage can lead to significant discrepancies.
The potential for discrepancies to arise are increased through:
• Shared Service Centres with a single location for processing invoices from multiple countries and the need to have a local VAT knowledge and languages in place.
• Increasing cross border purchases of goods and services.
• Cross-border VAT registrations and the complexities associated with configuring and managing this within an ERP system.
• Complexity of VAT accounts in ERP
- Standard rated VAT
- Reduced rated VAT
- Reverse Charge outputs
- Reverse Charge inputs
- 8th and 13th directive etc.
• migration of information on to new systems.
• changes in VAT legislation at local and EU levels.
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