When it comes to striving for “high performance,” optimising your VAT position can make a substantial contribution to your operating result. Deloitte VAT specialists will be pleased to show you where improvements can be made.

Ease the burden of VAT
To ease the VAT burden, we begin by identifying the costs on which VAT is charged. The next question is whether this calculation is justified. You can assume that you are currently paying too much VAT. However, there are factors in the purchasing process that influence the VAT burden. Dutch VAT, for instance, may be payable on services purchased abroad without VAT, which might include outsourcing administrative processes or services of an intellectual nature. Experience has shown that your internal operating processes can be designed in a way that eases the VAT burden.

Opportunities for saving on VAT
It is not enough simply to chart your purchasing activities. To make proper savings on VAT it is also important, for instance, to assess the exempt turnover flows to countries outside the EU. Moreover, unfamiliarity with VAT regulations and European legal precedents mean that the tax allowances claimed are often too small. Following such an exercise, and in consultation with the Tax Administration, there is often room to obtain a refund of VAT paid in the past.

Commodities and derivates
The VAT specialists in our FSI team are also involved in the field of ‘energy banking’, including trade in commodities and derivatives by financial institutions. Mapping the VAT payable and, at least as importantly, optimising cash flow positions play a major part in this.

Further information
If you would like to know more, contact Roelof Vos, Partner VAT FSI, telephone: +31 (0)20 582 57 78 or by email: rovos@deloitte.nl