New Bahrain firm eyes European VAT reclaim business
Manama, July 21, 2014
A new company in Bahrain that specialises in reclaiming value added tax (VAT) imposed by some European countries is looking to capitalise on its first mover advantage.
According to Gulf Tax Refund's (GTR) chief executive Mohammed Alkhan under the European 13th Directive VAT legislation, many foreign companies are entitled to recover tax incurred on their business travel expenses, but unfortunately many of them choose not to, as they don't have the time or the sufficient capacity to resource this activity.
"This can be due to the hassle, language barriers and confusing tax rules and regulations," he said.
GTR seeks to enable travellers to the UK, Germany, Switzerland, Austria, Holland, etc to claim all taxes they pay for hotel, accommodation, restaurants, conferences, exhibitions and training, said a report in the Gulf Daily News (GDN), our sister publication.
"We would handle and process the application for the refund on behalf of companies and individuals in Bahrain and the Gulf, and follow it up until collection of the amount," he said.
GTR does not charge anything in advance for the service.
"We are confident that with our wealth of expertise and experience, GTR will keep everything as simple as possible and will also help travellers to maximise their EU tax refund," Alkhan said. - TradeArabia News Service