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Businesses collectively forgoing $500m annually

Australian businesses are leaving an estimated half a billion dollars in recoverable tax on the table each and every year, it has been claimed.

Businesses collectively forgoing $500m annually
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Businesses collectively forgoing $500m annually

According to global tax reclamation firm VAT IT, businesses are entitled to reclaim foreign Value Added Tax (VAT) – effectively what Australians know as GST – on a range of expenses incurred overseas.

Read the full article at My Business.

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