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Financial Operations
Web Problem? Email Kana Horvath |
Value Added Tax (VAT) Refund The Board of Regents of the University System of Georgia entered into an agreement with Universal VAT Services (UVS) to perform processing and collection services to reclaim Value Added Taxes (VAT). VAT, levied by most European countries, or Goods and Service Tax (GST) and Provincial Sales Tax (PST) in Canada are luxury taxes placed on corporate travel expenses, including hotel; meal; car rental, fuel and parking; telephone; conference and trade show. This luxury tax is refundable to non-European or Canadian residents. Please see the attachment for eligible reclaimable business expense items and countries. The attachment also includes a procedure for processing vouchers containing VAT transactions. Compliance with the procedure is necessary for the Office of Disbursements and UVS to identify such transactions and complete processing and collection activities accurately and timely. UVS will complete the paperwork, reclaim activities, deduct the negotiated fee and forward the balance to the university. Refunds, received by the university prior to June 30 for expenditures that were made from current year funds, will be deposited back to the current year as an expense credit. Refunds, received after June 30 for expenditures that were made from prior year funds, will be deposited to prior year surplus. If you have any questions regarding this matter, please contact Jim Rutledge at 1-3338. VAT Reclaimable Business Expense Items
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