By Bev Fearis, published 11/11/20
TravelPerk has launched a solution to allow organisations to more easily reclaim VAT on their business trips.
It claims it will provide companies with savings of up to 20% on their annual spend on flights, trains, hotels and car rental.
Avi Meir, CEO and co-founder of TravelPerk, said: “Businesses of all kinds are feeling the strain right now and are trying to find ways to save money. Lots are unaware of the savings they can achieve thanks to VAT.
“At TravelPerk, we’ve completely simplified the VAT recovery process for our customers so that now they can reclaim their VAT back on business travel. It’s a big step in our mission to make business travel as painless as possible and also to put money back in businesses’ pockets that would otherwise be lost.”
TravelPerk said the solution is a three-step process.
Firstly, it provides customers with the necessary VAT invoices for hotel stays, car rental, flights and train bookings. TravelPerk will either issue the VAT invoice on behalf of the supplier, or where this is not feasible, collect the VAT invoices from the underlying travel supplier and provide them to the customer.
Secondly, TravelPerk has increased its inventory on which VAT is reclaimable across all verticals and in European countries.
Finally, the VAT Solution includes a proprietary VAT calculator which TravelPerk customers can use to find out how much they can save by booking their travel through the TravelPerk platform.
The TravelPerk VAT solution will be included in Premium and Pro plans for all existing TravelPerk customers and is available now.