Shipping high value, lT equipment to foreign countries and territories can be costly. This is as a result of a number of extra costs incurred such as freight, customs fees, licenses and permits, and most of all, foreign taxes. In most countries, global businesses pay a huge amount of money just on import VAT – absorbing much- needed cashflow.

Yet, by partnering with a strategic foreign tax expert like TecEx, your business can recover almost all import tax costs – saving your business time and money. TecEx will seamlessly recover foreign tax on your behalf, allowing you to focus on doing what you do best. Through our global network, we are able to reclaim a variety for different types of VAT/ GST taxes in over 40 countries worldwide, for example:

  • Import VAT / GST when shipping electronic equipment into foreign countries.
  • VAT / GST for the purchase of equipment in country.
  • VAT / GST charged by the datacenter on the colocation charges.

What is Import VAT?

This is VAT that is charged on foreign goods upon their arrival in customs. Import VAT is charged on the commercial value of the goods being imported.

Is Import VAT recoverable?

Yes, it is. TecEx specialises in recovering import VAT on the deployment of IT equipment.

What are Duties? Are they recoverable?

Duties are specific levies charged on foreign goods upon their arrival in customs. Duties however, are not recoverable.

Why choose TecEx for your foreign tax refund?

Efficient tax recovery is in our blood: TecEx is a division of VATIT, the largest cross-border VAT reclaim company in the world. We have strong global relationships with tax authorities and understand the intricacies of their requirements for successful foreign tax reclaims. Our team has the knowledge and expertise to provide you with the most hassle-free service – enabling you to reduce your import costs. Through our global network and team of tax specialists, TecEx will seamlessly recover your foreign taxes, while you focus on doing what you do best.

Why should I not use my normal accounting firm to aid my business in reclaiming Import VAT?

Many firms do not have the expertise and knowledge on claiming back import VAT. Reclaiming Import VAT is a challenge in each country and the requirements are vastly different – there is no one-size-fits-all approach. TecEx keeps up to date with the specific requirements for successful Import VAT reclaim in over 40 countries. We have the knowledge, expertise and long-lasting relationships that allow us to maximize Import VAT recovery success.

What else does TecEx do?

TecEx offers reliable IOR (Importer of Record) services to industry leaders in the technology space through our dedicated team of import compliance specialists. We have the expertise and global network to effectively manage the distribution of high value networking equipment into more than 200 countries and territories around the world. By partnering with us, we will import in a tax-efficient manner that will enable you to maximize your tax recovery where you stand to gain a potential saving between 18-24% of the value of your shipped equipment.

Do I have to be registered for VAT in a foreign country to claim back Import VAT?

No. TecEx specializes in recovering VAT for businesses through a cross-border / non-resident basis – meaning your company does not have to have a registration in the foreign country to get a VAT reclaim.

How do I know if my business is entitled to a refund?

If your company incurs expenses in any of the refund countries, you are entitled to a foreign tax refund if you:

  • Ship equipment internationally to a VAT refund country where you retain ownership of the equipment;
  • Store equipment in foreign data centers located in a VAT refund country;
  • Purchase equipment in a VAT refund country.

However, there may be other circumstances where you are eligible for a tax refund.
Please contact us with your query and we will gladly assist you.

TecEx’s expert team of strategic tax specialists can get instant cash back for you and your business through reclaiming foreign tax.