Multiservice payment system: Service for the VAT refund paid abroad

2019: Pilot start of service of the VAT refund paid in abroad travels

On June 11, 2019 it became known that the Multiservice Payment System company provided the unknown for the Russian market the service allowing the companies to perform VAT refund paid in abroad travels.

The pilot version of the project allows to issue VAT refund in 20 countries among which – the most part of the countries of the European Union, Japan, Australia, New Zealand, etc. At the same time, return is performed on more than 15 expense types, including the most popular traveling costs: on placement, transport, a power supply and conference services.

To use service, the companies will need to provide originals of checks on the corresponding expenses which together with the document package requested by the specific country will be directed in tax body of that country which performs return. After processing and consideration of the request money will arrive on the checking account of the company in Russian rubles. It is expected that shortly need for originals of documents will disappear and there will be enough copies, and all information exchange will be performed in the automatic mode.

At a stage of the pilot the acting clients of "Multiservice payment system" will be able to use service.

As a rule, the VAT is included in the cost of the most part of expenses in business trips, but the companies seldom use the right to perform return. It is connected with a set of factors, but first of all is the difficult bureaucratic process of compensation excellent for each certain country, and need of in-depth examination of the legislation of the third countries on the matter. Therefore "the Multiservice payment system" started service for value added tax refund at payment of services in business trips abroad. For June, 2019 service works in the test mode, told Alexander Shkoda, the head of department of work with banks