Basically VAT refund services consists of; in case the input VAT amount which is calculated on purchase invoices and similar documents and is paid by taxpayers, who have transactions subject to exemption, is more than output VAT amount which is calculated on the transactions subject to VAT, refunding the VAT, which is paid for the transactions subject to exemption, in cash or by offsetting mechanism according to the principles determined by Ministry of Finance.
VAT Refund Consulting Services
- Analyses of the transactions that give VAT refund right and optimization of VAT refund status,
- Consulting on VAT refund legislation.
Documentation/ Preparation Services
- Preparation of the lists/templates and other documentation which are required for VAT refund Tax Office application (input VAT, incurred VAT lists etc.) based on the legislation,
- Review of the work papers and calculations to be done with regard to refundable VAT (VAT on COGS/COS and General Expenses),
- Uploading required lists via Internet Tax Office,
- Receiving the VAT refund missing point report and other tax office written requests from Tax Office, determining required data/documentation, organizing and obtaining it, preparing the answers in accordance with legislation, making the required corrections in the lists and uploading the revised lists via Internet Tax Office, submitting to answers to Tax Office,
- Managing all the relations with The Tax Authority.
- Visiting the Tax Office with Client and discuss with the authorities, to provide finalization of the VAT refund files.