Top Tips for Improving VAT Compliance

The global market potential for Value-Added Tax (VAT) reclaim is nearly £57.1 billion1, but constant change in country-specific tax regulations and demands for digitisation of tax reporting have made reclaiming VAT increasingly complex and difficult to manage. It’s no wonder that 42% of employee expense transactions do not meet requirements for VAT reclaim due to incorrect information or missing data.

Errors, such as late submission of VAT, incorrect VAT charges, or invalid claim documentation, may lead to penalties. There are steps you can take, however, to protect your organisation against audits and fines, so you can put more money in the bank. Here are our top 10 tips.