Where in the world can businesses obtain a refund of VAT and GST, and how efficient is the process?
KPMG’s Global Indirect Tax Services new VAT/GST Refunds Survey 2014 answers these questions and more

As you enter new markets, buy or sell goods or services with consumers in different places around the world, or even send staff or executives on overseas business trips, you will likely incur Value Added Taxes (VAT) and Goods and Services Taxes (GST). The question of whether you can obtain a refund of the VAT or GST incurred on a timely basis and with a minimum of compliance costs, represent critical financial, tax and business efficiency issues.

KPMG’s Global Indirect Tax Services (GITS) practice examined and evaluated the ability to obtain refunds of VAT/GST in 65 countries and the results are now available in a new publication titled VAT/GST Refunds Survey 2014.

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Key findings:

  • 40 percent of countries process VAT/GST refunds efficiently for resident businesses, whereas 15 percent of countries generally do not allow VAT/GST refunds for resident businesses, or do so only in limited circumstances.
  • 34 percent of countries process VAT/GST refunds efficiently for non-resident businesses, whereas 29 percent of countries generally do not allow VAT/GST refunds for non-resident businesses, or do so only in limited circumstances.