Benchmark Your VAT Processes

Against 100 Companies

T H E R E S P O N D E N T S

VAT R E C O V E R Y

T H E G O A L S A N D P R I O R I T I E S O FT O D AY ’ S TA X P R O F E S S I O N A L

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12%

49%

28%

7%4%

Tax Manager/ Director

Indirect Tax Director/ Manager

Other

VAT Manager/ Director

Finance/Shared Services Director

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This research examines:What are the main goals and challenges of VAT professionals today and in the next 12 months What visibility VAT managers have globally of spend and insight into how to optimize VAT recovery

42%

have revenues of more than €10bn.50%

have more than 50 VAT registrations in the EU.53%

82% of respondents support morethan 10 subsidiaries in Europe.

The most important goals for 2017:

VATBox is the only technology company that focuses on simplifying the laborious VAT recovery process through intelligent knowledge-based automation.• Get an inside look how to break through the VAT maze.• Watch our movie.• For more information: www.vatbox.com

VAT professionals value compliance over cost savings.Tax professionals care mainly about the efficiency and effectiveness of their departments, ensuring compliance over cost savings.

There is significant opportunity to recover more VAT. Only about 1/3 of respondents have full visibility of the common areas to recover VAT such as cross border transactions and T&E.

Visibility of reporting and communication are essential. Poor visibility and low levels of automation mean that it is likely money is being ‘left on the table’ as VAT recovery isn’t optimised. Good processes and technology will help you recover more VAT.

85% say ensuring tax compliance on a global level is how theymake a difference for the company

We have a fully automated system with full global visibility

We have a mixed/ manual process

We only estimate this

We outsource this

Tax professionals need to be agile and innovative and need to bring new ideas to the table to ensure compliance and add value to the company.

Do you have full visibility of the amount spent through cross border transactions?

Only 32% have full visibility.

Cross-border transactions

Improving tax compliance and risk management

Deploying centralized and automated processes

Maintaining and supporting business and supply chain cases

Optimizing VAT recovery

The top 4 responses

How do you add value to your company?(tick all that apply)

Ensure compliance on a global level

Bring in and implement innovative solutions

Deploy centralized and automated processes

Improve headquarter’s visibilty and control

Increase the bottom line of the company

85%

58%

56%

48%

39%

83%

13%4%

I try to bring innovative ideas, but it is not a priority

I don’t see innovation as a part of my role

I often bring new, innovativeideas to the table

What role does innovation play in how you bring value?

Do you have a fully automated Foreign, cross-border VAT recovery solution, with full global visibility into Foreign VAT Spend, Foreign VAT Recovered and Foreign VAT lost?

3 Key Areas for VAT Recovery

27%

43%

26%

4%

3

1

1

2

3

24%

15%

14%

10%

38% 32%

30%

Don’t know how much was spent through these channels

Full visibility

High level estimation

How do you manage P-Card Spend?

22% manage manually.

Procurement Cards(P-Cards)

Do you have visibility of how much VAT was spent on T&E?

T&E

Only 33% have full visibility.

20%

33%

47%

No visibilityFull visibility

Partial visibility

22%

78%

Manage through ERP or dedicated tools

Manage manually

2 3

REQUEST A DEMO

UnitedKingdom

34%6%19%

6%

4%

3%

2% 2%

1%

1%

1%

1%1%

2%

5%

12%

TheNetherlands

Belgium

Denmark

Ireland

Switzerland

Poland

Germany

France Hungary

Sweden

CzechRepublic

Greece

Liechtenstein

Norway

Spain

Location of respondents

are from companies with €1bn to €10bn revenue.