Hauliers reap benefits from VAT-back cards
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• More than 140 hauliers have benefited from Euroshell cards' quick VAT reclamation scheme since it was introduced last December. Shell Fuel Cards marketing manager Mark Foster says that most operators get their VAT back within two weeks.
The scheme was launched after 60% of international hauliers admitted they were not bothering to reclaim VAT on European purchases because of complicated administrative systems. Shell has simplified the procedure for Euroshell card holders to cut out waits of up to three years for VAT refunds, The service is available for card transactions in 10 European countries including Belgium, France and Germany. Customers pay their VAT in full but get it back within two weeks, less a commission of 12-18%, according to each country's VAT rate.
For hauliers operating in Spain and Italy, where the VAT reclamation procedure takes considerably longer, claims must go through Shell's Danish agent, FDE. When the VAT is returned the agent will credit it to customers' accounts less commission.
Shell is also offering to reclaim VAT on any 1991 foreign transactions provided details are sent to FDE before May 31: "This is an opportunity for operators to claim VAT back on any invoices they may still have sitting around in drawers," says Foster.