SOURCE: Euro VAT Refund, Inc.

Euro VAT Refund, Inc.

September 09, 2009 09:30 ET

Euro VAT Refund, Inc. Offers New 2010 VAT Package Financial Services for U.S. Companies in Preparation of Changing European Rules

Advance VAT Registration Required by Many Countries for Companies to Claim VAT Refund

LOS ANGELES, CA--(Marketwire - September 9, 2009) - Euro VAT Refund®, Inc. (EuroVAT), the leading single-source U.S. provider of financial services for Value Added Tax (VAT) reclaims, management, and registrations, today announced its new 2010 VAT Package Financial Services offering to prepare U.S. companies for the significant changes in European (EU) VAT rules beginning in 2010. EuroVAT's new 2010 VAT Package Financial Service is designed to assist U.S. companies with analysis, accounting preparation, and advance VAT registration management to maximize their VAT refund potential. EuroVAT is currently preparing its existing clients for the changes in the new rules, and offers new companies a free initial evaluation of how the 2010 VAT Package rules will affect them.

The primary changes that will occur with the 2010 VAT Package rules will be to levy VAT on services at the actual place where the customer is located. This change can result in U.S. companies receiving significantly greater VAT savings compared to previous years. However, many individual EU countries will require advance VAT registration before business transactions take place in order to receive any VAT refund or savings.

"The 2010 VAT Package changes will provide a significant business savings for many of our U.S. clients," said Britta Eriksson, founder and CEO of Euro VAT Refund, Inc. "However, while the new rules were meant to simplify the VAT system, in reality they actually make it more complicated. It is more important than ever that U.S. companies receive proper advice and guidance before they start European commercial activities in 2010. EuroVAT is already assisting its customers with all of the new registration requirements and helping adjust their internal business, accounting, and logistics processes for optimum efficiency."

2010 VAT Package Overview

The 2010 VAT Package is a new European law taking effect in 2010 which makes significant changes regarding the rules on place of supply of services to businesses (B2B) and consumers (B2C), regulations for cross-border VAT refunds, the administrative cooperation, and the exchange of information between EU Member States. These new rules will affect U.S. companies that sell or purchase services in Europe, and can result in tremendous savings in their business expenses over previous years. Individual EU countries are able to interpret and apply the new rules differently regarding how some services performed are treated from a VAT point-of-view in their respective countries.

To date, the Netherlands, the United Kingdom, Sweden, and several other countries have publicly stated how the new 2010 VAT Package for services performed will be applied. Additional countries will be announcing their changes under the plan in the upcoming weeks and months. EuroVAT is actively working with its business and governmental contacts in all EU countries to receive and apply their respective rules as they become available.

Service Industries Most Benefited by 2010 VAT Package

--  Computer Services              --  Entertainment
--  Shipping                       --  Event Management & Trade Shows
--  Warranty Services              --  IT Consulting
--  Installation                   --  Outsourced Call Centers
--  Maintenance                    --  Clinical Research in Life Sciences
--  Equipment Rental               --  Repair Services

About Euro VAT Refund, Inc.

Euro VAT Refund, Inc. is a Los Angeles-based financial services firm, specializing in assisting North American companies in managing Value Added Tax (VAT) reclaims and registrations worldwide. EuroVAT long-standing customers include global Fortune 1000 companies and industry leaders in the travel industry, entertainment industry, manufacturing, semiconductors, event management, and others. As a single-source service HUB for U.S. companies, EuroVAT goes beyond the traditional level of travel VAT reclaim knowledge and adds a comprehensive and successful VAT management program involving most of the Value Added Tax categories that exist worldwide. For more information, visit: http://www.eurovat.com, call (310) 204-0805, or email: vat@eurovat.com.

Euro VAT Refund is a Registered Trademark of Euro VAT Refund, Inc. All other product or service names are the property of their respective owners.

Contact Information

  • Company Contact:
    Goran Eriksson
    Euro VAT Refund, Inc.
    (310) 841-0481, x103
    Email Contact

    Media Contact:
    Joe Waldygo
    TopSpin Communications, Inc.
    480-632-5050
    Email Contact