TravelPerk has launched a new tool designed to help
companies "radically simplify" the value added tax reclamation
process for corporate travel. The solution combines invoice collection and
delivery with a VAT calculator, along with an increased inventory of VAT
reclaimable booking options for flights, hotels, train and car rental
throughout Europe, TravelPerk said.
The VAT reclamation service is available as of today at no
additional charge under TravelPerk's Premium and Pro plans—and the
Barcelona-based corporate travel booking and expense management provider is
touting potential savings of up to 20 percent of a company's annual travel
spend delivered through the tool.
With many companies suffering financial strain in the midst
of the ongoing Covid-19 pandemic, many are stepping
up VAT reclamation efforts to strengthen their balance sheets.
Along with the reclaimed VAT itself, TravelPerk’s solution
increases the efficiency of the VAT recovery process, saving companies
additional time and money, the company said. It does so by handling the
tracking and invoicing of VAT-reclaimable bookings, with TravelPerk either issuing
the VAT invoice on behalf of the supplier, or, where that method is not
feasible, collecting the VAT invoices from the underlying travel supplier and
providing them to the customer. TravelPerk also has added VAT specialists to
its staff to support the service, the company said.
Launch of the VAT reclaim tool follows TravelPerk's late
October rollout
of its standalone Covid-19 tracking and data service and a new open-API based
platform the company unveiled
in September.