Based in India, with offices in London, Paris, Chicago, New York, New Jersey and Singapore, Associated Vat Recovery is a global organization aimed at providing assistance to companies wishing to recover VAT paid on business expenditure. “Many companies with employees travelling on business to Europe are not really aware that they are entitled to reclaim the VAT charged on many of the expenses incurred by them”, points out Mr. Mukherjee, who understands that those who have attempted to do so have found the exercise long and time consuming.

Talking to BUSINESS MAGAZINE, AVR’s General Manager explains that under the EU 13th Directive, VAT can be paid to companies whose staff have incurred business expenses in any EU country on conferences, exhibitions/trade fairs, training courses, inter company invoices and hotels and meals, to name a few. “Current legislation enables an applicant to claim VAT up to six months after the end of the financial year in which the expenses were incurred. In some cases, it may be possible to submit retrospective claims for VAT refunds”, underlines Mr. Mukherjee who adds that the potential for a sizeable claim does exist. VAT rates range actually from 7% to 25% in EU countries.

Mr. Mukherjee is satisfied with positive responses registered by the MCCI’s participants following his presentation on the subject, last week. “We are very much keen to work and assist Mauritian companies on this issue. Depending on the volume of business, AVR will study the possibility of opening a regional office in Mauritius”.

With a staff of 42, AVR has more than 3,000 clients worldwide: Unilever, BAT, HP, Merryl Lynch, HSBC, ABN Amro, American Express, Nokia, Coca-Cola and Pepsi Cola, among others.