VAT Logic

VAT Logic are VAT Review Specialists who focus exclusively on conducting VAT Recovery and VAT Risk Reviews for medium to large companies across all industries.

Value-added tax is an indirect tax that affects every single financial transaction in a company. Irrespective of the best accounting systems and internal controls, it is our experience over the past 20 years that most, if not all, companies lose substantial profits through VAT over-payments, unclaimed VAT benefits, and tax penalties and interest.

Reasons for failing to claim valid VAT input credits include the following:

   High staff turnover / inexperienced staff / understaffed (accounts department)

   Inaccurate data capture

   High volumes of transactions

   Complex supplier agreements

   Incorrect treatment of once-off and out-of-ordinary transactions

   Incorrect accounting system settings

   Changes in accounting systems, procedures and software

   Changes in VAT rates, legislation and rulings

Most companies make substantial VAT overpayments. The good news is that the VAT Act allows companies to review their historical VAT payments and claim a refund for any VAT overpayments and unclaimed VAT benefits.

Companies are subjected to numerous tax acts. It is almost impossible for companies to have a dedicated tax expert for each tax. Therefore, it has become imperative for VAT vendors to engage with VAT specialists, like VAT Logic, to minimise VAT leakage and ensure compliance with their VAT affairs.