Taxback International has developed into one of the world's foremost experts in value-added tax (VAT) reclaim, compliance, and consultation. With the use of cutting-edge technology, in-depth industry knowledge, and clever alliances, it offers clients complete VAT solutions. The business provides services to customers all over the world. Ireland's Kilkenny serves as the headquarters of Taxback International.

Karl Nolan, CEO of Taxback International, responded to a message from Business Fortune

As a global leader in tax technology, reclaim, consulting, and VAT compliance, what are the main areas of focus for Taxback?

Many companies worldwide, especially in Europe, still use Excel or spreadsheets for their VAT processes. This leads to time-consuming tasks and issues like fines and late filings. We help solve these challenges by streamlining processes globally. Our platform ensures accurate VAT submissions and provides a complete audit trail, including predicting potential VAT liabilities and facilitating online payments. Customers can choose how to use our platform, with options for self-service, fully managed, or a hybrid approach. Our platform operates on a subscription basis, giving companies the flexibility to adapt it to their specific needs and gain comprehensive visibility into their VAT processes.

Would you please introduce your services to us? What distinguishing qualities do they have?

We offer two main solutions: VAT Connect focuses on reclaiming VAT, and Comply focuses on VAT compliance. VAT Connect uses customer data and machine learning to accurately predict and apply VAT recovery, with real-time visibility through an online tracker. It also provides comprehensive analytics for customer use. Comply gives customers a complete view of their VAT liability across multiple jurisdictions to efficiently manage VAT compliance. Both platforms offer benefits such as mitigating the risk of missing deadlines, enhancing governance, and reducing audit costs. The platforms' off-the-shelf nature allows for a quick and efficient implementation process.

Could you share one or two client success stories with us, describing specific challenges they faced and how Taxback's solutions helped them succeed?    

To handle their VAT difficulties, we collaborated with a reputable international corporation that operates in more than 60 countries. When it first started using Excel for VAT filing and compliance across several nations, it ran into problems with different processes, frequencies, and payment options. Because the company's global CFO lacked real-time visibility, governance and risk issues arose.

The company hired us to deploy our platform in multiple important jurisdictions, and they immediately saw the advantages of centralized management. We've successfully moved all of their entities onto the platform throughout the years, giving users a complete worldwide picture. In addition to providing the CFO with improved risk management and control, this gives senior management and auditors real-time access to information about VAT liabilities across jurisdictions. For the organization, the implementation has proven to be a huge success.

Describe the Taxback team for us. What benefit do they offer the business?

With members of the team located all over the world and representing a variety of cultural backgrounds, it is evident that they are committed to the same goal of making sure that our actions are always in our clients' best interests. In the course of our 26 years in business, we have amassed a wealth of knowledge and experience in numerous nations. The platforms we provide to the market are the culmination of this wealth of experience.

What has always been thought of as a stodgy industry has seen innovation brought in by our innovative and potentially disruptive technology. With the help of this innovation, our customers may free up time and money to reassign precious staff to higher-impact projects. The ease with which clients can select and utilize our platform demonstrates our unwavering dedication to customizing our offerings to suit their particular requirements.

Our group is motivated by a never-ending desire to question the status quo and establish a stimulating workplace that encourages innovation. Our clients, on the other hand, are the real winners of our strategy, as they witness the wonderful results of our team's commitment to quality and innovation.

What new projects is Taxback working on right now?

The biggest development in our sector is related to changes in regulations, especially in Europe with the VIDA (VAT in the Digital Age) program. The three main goals of this regulatory initiative are to simplify and harmonize VAT procedures throughout Europe. This project is being spearheaded by the European Union, and the OECD is also thinking about taking comparable action.

By January 1, 2028, the EU hopes to have fully implemented VIDA, and different European nations have adopted it to varying degrees thus far. When it comes to e-invoicing and e-reporting, the EU is at the forefront. Furthermore, VIDA seeks to eliminate traditional paper-based methods by automating VAT collection and processing.

Reducing and preventing fraud is a critical component of VIDA; according to EU estimates, member state governments lose about $93 billion in uncollected VAT annually. This project offers a chance as well as a challenge. As our systems are ideally positioned to help customers navigate and comply with these changes, we see it as having significant potential. In order to give our customers the tools they need to handle these changing legal requirements, we are actively developing customized solutions that take into account the differences in how each country is adopting VIDA.

About | Karl Nolan

Karl Nolan serves as the Chief Executive Officer of Taxback International.

"Because our platform is ready to use right out of the box, businesses can quickly reap its advantages without having to wait for a lengthy period to adopt it."