lients lose millions in taxation

Event planners are throwing away millions of pounds a year in VAT payments within the EU, delegates learned today. Speaking at a seminar at this year’s C&IT Corporate Forum, Tax Back International commercial director Niamh Murray told representatives: “According to EU figures, 80% of UK companies do not reclaim any VAT from business payments made on the continent, whereas, depending on which country you’re dealing in, up to 25% can be re-claimed.” Murray added that the events industry was better than most sectors because it was more used to operating overseas. However, when the audience of event managers from the financial, pharmaceutical, charity, motoring and utilities sectors was asked what their companies reclaimed, none knew how much, if any, VAT was being claimed back for everyday costs such rooms and entertainment. “A lot of corporate clients are being double-taxed – paying VAT in the UK and in the country where the event is being held. We have even come across cases where unscrupulous DMCs are claiming back money on their client’s behalf and keeping it for themselves,” Murray added. One delegate who did not want to be named told C&IT: “We have offices all over Europe and it would make sense to use those offices to book events, but we don’t and I’m pretty certain we’re not claiming back the money we should be.”

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